OREANDA-NEWS. June 03, 2011. Subsidiary Organization JSC VTB Bank (Kazakhstan) (Almaty, hereinafter - the Bank), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has by an official letter informed KASE that its Board of Directors  took the following decisions, reported the press-centre of KASE:

quote

1. On taking note of the Management Board's Y2011 Q1 progress report on the business plan.

2. On taking note of the Bank's managerial accounts for reporting periods.

3. On taking note of the Management Board's progress report on the action plan designed in response to faults detected by the Bank's Internal Audit.

4. On creation of the Bank Board of Directors' Audit Committee, approval of the relevant provision and defining its composition.

5. On approval of the Bank's revised organizational structure.

6. On approval of a transaction with a person related to the Bank by special relationship.

7. On taking note of a report of the Bank's Internal Audit.

8. On approval of amendments and changes #6 to Rules "On general conditions of carrying out transactions of Subsidiary Organization JSC VTB Bank (Kazakhstan)".

9. On setting a total limit on securities issued by the National Bank of the Republic of Kazakhstan and those issued by the Ministry of Finance of the Republic of Kazakhstan.

10. On approval of the register of persons related to the Bank by special relationship.

11. On setting up branches of SO JSC Bank VTB (Kazakhstan) in the cities of Taldykorgan, Oral, KyzylOrda and Kokshetau.

12. On approval of the financing limit for an LLP of not more than KZT998,113,500 (nine hundred ninety eight million one hundred thirteen thousand and five hundred), which is equivalent to USD6,850,000 (six million eight hundred fifty thousand).