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Major Kazakh Bank increases its profit by 4 times

Business Materials 15 February 2012 18:11 (UTC +04:00)

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).

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