Kazakh Halyk Bank sees decrease in profit

Baku, Azerbaijan, Sept.4

By Elena Kosolapova - Trend:

Kazakhstan's Halyk Bank and its subsidiary organizations got net profit worth 55.3 billion tenge (241.15 tenge = $1) in H1 of 2015, or 13.7 percent less compared to the same period of 2014, said the consolidated financial statement of the bank posted on the website of Kazakhstan Stock Exchange (KASE).

The net profit of the bank's group has increased by 8.4 percent per annum as of Q2 of 2015 compared to the same period of 2014 and reached 28.3 billion tenge.

The assets of Halyk Bank of Kazakhstan have increased by 5.2 percent in H1 and totaled 2.9 trillion tenge.

The equity remained unchanged compared to Dec.31, 2014 and dropped by 5.1 percent compared to March 31, 2015 as a result of redemption of the bank's preferred shares in June 2015 for 140 tenge per share totaling 23 billion tenge and due to the dividends paid by the bank on its common and preferred shares.

The decrease in the bank's equity was partially compensated with the net profit gained throughout Q2 of 2015.

The net interest income of Kazakhstan's Halyk Bank for the first six months of 2015 rose by 16.4 percent compared to the same period of 2014 and stood at 75.5 billion tenge.

Return on average equity (RoAE) stood at 23.3 percent per annum, compared to 32.1 percent per annum as of the six months of 2014.

This is while the return on average assets (RoAA) totaled 3.9 percent per annum, compared to 4.7 percent per annum in the same period of 2014.

Borrowings to customers exceeded 1.8 trillion tenge as of June 30, 2015, or 6.7 percent more than Dec.31, 2014.

Nonperforming Loans (NPL) 90+ ratio dropped to 13.3 percent as of June 30, 2015 compared to 13.6 percent on March 31, 2015 mainly due to growth in the bank's loan portfolio in Q2 of 2015.

The funds of loan institutions have increased by 11.1 percent compared to Dec.31, 2014 mainly due to the borrowings attracted by the bank from governmental organizations under government programs to support the economy.

Issued debt securities increased by 41.4 percent compared to Dec.31, 2014.

Kazakhstan's Halyk Bank is a leading financial services group and the leading retail bank in Kazakhstan. The main shareholder of the bank is Holding Group Almex JSC.

Edited by SI

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Follow the author on Twitter: @E_Kosolapova

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