ALMATY. Oct 20 (Interfax) - Assets held by VTB's Kazakh subsidiary bank decreased to 6.689 billion tenge (147.58 tenge/$1 on October 20, 2010) in January-June 2010 from 11.685 billion tenge for the same period of 2009, the bank said in its IFRS results.
Therefore, the bank's assets decreased by 41% in the first half.
The subsidiary reduced its obligations by 83% to 937.49 million tenge while equity went down by 3.6% to 5.75 billion tenge.
The bank's net losses in January-June increased by 700% to 213.376 million tenge.
DO VTB Bank (Kazakhstan) is a 100% subsidiary of Russia's VTB.
VTB (Kazakhstan) was 656th largest CIS bank by assets at the end of 2009 and 26th biggest Kazakh bank according to the Interfax-1000, compiled by the Interfax Center for Economic Analysis (CEA).