Total profit of Kazakhstan’s banks up

Business Materials 1 March 2018 13:30 (UTC +04:00)

Baku, Azerbaijan, Mar. 1

By Ali Mustafayev – Trend:

The total profit of second-tier banks (STB) of Kazakhstan in January 2018 amounted to 54.9 billion tenges, 38.9 percent (15.4 billion tenges) more than in January 2017.

Revenues of Kazakhstan's STB in January 2018 amounted to 2.3 trillion tenges, which is 22.5 percent less than in the same period of 2017, while expenses decreased even more - by 23.3 percent, to 2.3 trillion tenges, which allowed to increase the banks’ profits, Kazakh media reported.

In January 2017 Kazakh banks incurred losses worth 18.7 billion tenges.

However, despite the figures of 2017 in the banking sector, 28 out of 32 STBs in Kazakhstan started the current year with profit.

The highest profits in January 2018 were gained by Halyk Bank (15.7 billion tenge), Sberbank (10.3 billion tenge) and Tsesnabank (9.3 billion tenge).

Currency rate for 01.03.2018: $1 – 320 tenges.