Kazakh bank's liabilities decrease 49% in six months
Baku, Azerbaijan, July 26
By Leman Zeynalova – Trend:
Liabilities of Qazaq Banki JSC in Kazakhstan have decreased by 49.1 percent (169.8 billion tenge) in six months, the Association of Financiers of Kazakhstan said in a statement posted on its website.
Despite the significant decrease in the bank's balance sheet caused by the outflow of liquidity, the financial institution, according to the corporate reports, increased net profit by 3.3 times to 1.5 billion tenge at half year-end, the association noted.
At the same time, the bank also received a profit from operations with financial assets - measured at a fair value through profit or loss - in the amount of 0.3 billion tenge compared to a loss of 1.5 billion tenge in the same period last year.
An increase in the reserve of retained earnings (3.3 billion tenge) has exerted positive impact on the bank's capital. The share capital has not changed and amounts to 39.3 billion tenge.
"Qazaq Banki's liabilities decreased by 169.8 billion tenge in six months. The negative dynamics of the bank's liabilities is mainly conditioned by the reduction of current accounts and deposits of customers (150.1 billion tenge), the share of which decreased from 81 percent to 73 percent of all liabilities. In particular, deposits of corporate clients decreased by 69.4 billion tenge, and individual clients - by 80.8 billion tenge," the message says.
Qazaq Banki is a commercial bank and specializes in providing banking services to legal entities and individuals.
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