Azerbaijan, Baku, May 3 / Trend E. Kosolapova/
The Kazakh Development Bank finished 2011 at a 17 billion tenge loss (148,06 tenge = $1), Novosti-Kazakhstan reported with the reference to the Bank's audited consolidated financial statements under international financial reporting standards (IFRS).
In 2010 the Bank received 2.226 billion tenge profit.
The bank's assets decreased by 7.2 percent - to 889.9 billion tenge in the reporting period, the amount of the loan portfolio decreased by 14.2 percent - to 275.4 billion tenge, liabilities decreased by 1.7 percent - to 678.8 billion tenge.
The bank's equity decreased by 21.2 percent - to 211.1 billion tenge.
The Kazakh Development Bank was established in 2001. It is the national institution of development, which ensures lending of medium and long term investment projects in production infrastructure and non-raw sectors of economy.
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