Kazakh Subsidiary of Russian bank reduces profit
Baku, Azerbaijan, May 5
By Elena Kosolapova - Trend:
The Kazakh subsidiary of Russian Sberbank decreased its profit by 10 percent in 2013, Novosti-Kazakhstan reported with the reference to the bank's audited consolidated financial statements under international financial reporting standards (IFRS).
Net profit hit 21.623 billion tenge (182.02 tenge = $1) in 2013 compared to 24.021 billion tenge in 2012.
SB Sberbank's assets increased by 42 percent to 1.033 trillion tenge in the reporting period, loan portfolio increased by 41 percent to 730.8 billion tenge.
The bank's liabilities increased by 43 percent to 916.1 billion tenge in 2013, equity increased by 33 percent to 117.3 billion tenge.
SB Sberbank JSC is a member of the Sberbank International Group. The Bank has been operating in Kazakhstan's financial market for seven years and has the fifth largest assets among the second-tier banks in Kazakhstan. SB Sberbank JSC has a network of branches, which consists of 106 structural units, including 15 subsidiaries. The Bank's headquarters is in Almaty.
Edited by C.N.