Kazakh subsidiary of Russian VTB Bank receives profit in 2013 compared to loss in 2012
Baku, Azerbaijan, May 14
By Elena Kosolapova - Trend:
Kazakh subsidiary of Russian VTB Bank received 619 million tenge net profit in 2013 compared to a 487 million tenge loss (182.02 tenge = $1) in 2012, the bank reported on May 14.
"The increase of net profit resulted from the growth in number of the bank's operations (including increase of the loan portfolio) along with optimization of expenses," the company said.
The bank's assets increased by 49 percent up to 143.995 billion tenge in the reporting period.
The bank's liabilities have increased by 59 up to 126.265 billion tenge.
The Bank's loan portfolio increased by 34 percent and amounted to 108.280 billion tenge.
The volume of funds on the customers' accounts and deposits increased by 87 percent and reached 97.155 billion tenge as of December 31, 2013.
Net interest income increased by 43 percent to 5.810 billion tenge.
Net commission income increased by 64 percent and reached 1.651 million tenge in 2013.