Major Kazakh Bank increases its profit by 4 times
Azerbaijan, Baku, Feb. 15 / Trend E. Kosolapova/
Kazakh Kaspi Bank increased its profit by 4 times in 2011, the Bank reported referring to IFRS un-audited, consolidated financial statement. The bank's profit hit 8.8 billion tenge ($59.31 billion) in 2011 compared to 2.22 billion tenge ($14.96 million) in 2010.
Bank deposits increased by 24 percent in this period to 322 billion tenge ($2.17 billion), credit portfolio increased by 20 percent to 324.2 billion tenge ($2.19 billion).
Kaspi Bank is one of the largest Kazakh banks. Its main shareholder is Caspian Financial Group. According to the bank, its assets hit 431 billion tenge ($2.9 billion) and its equity makes up 50 billion tenge ($337 million).