Kazakh Halyk Bank ups net profit by 58 percent in first quarter of 2012

Business Materials 21 May 2012 12:56 (UTC +04:00)

Azerbaijan, Baku, May 21 / Trend E. Kosolapova/

Kazakh Halyk Bank increased net profit by 58 percent in the first quarter of 2012 compared to the same period of 2011, Novosti-Kazakhstan reported.

Halyk Bank's net profit hit 16.8 billion tenge in the reporting period.

The bank's assets increased by 11.9 percent to 2.5 trillion tenge, loan portfolio decreased by 3.2 percent to 1.1 trillion tenge in this period.

The obligations of the bank in January-March increased by 12.7 percent to 2.2 trillion tenge. Equity capital increased by 6.8 percent to 331.4 billion tenge.

The bank's net interest margin rose from 4.3 percent in January - March 2011 to 4.9 percent in the same period of 2012.

The profitability of the bank's capital amounted to 19.3 percent per annum in January-March 2012 (13 percent in the first quarter of 2011), return on assets hit 2.8 percent (1.9 percent in January-March 2011).

The bank's main shareholders as of April 1 were Holding Group ALMEX (44.51 percent), Sovereign Wealth Fund Samruk-Kazyna (11.55 percent) and Accumulated Pension Fund of Halyk Bank (9.59 percent).