Kazakh banks increase their financial stability
Baku, Azerbaijan, Aug. 13
By Leman Zeynalova - Trend:
Equity of Kazakhstan's second-tier banks at the end of June 2018 amounted to more than 3 trillion tenges, which is 1.7 percent or 51.8 billion tenges more than last year, Ranking.kz reported.
In June 2017, growth was equal to 13.4 percent or 353.8 billion tenges more comparing with the same period of 2016.
In a year, 25 out of 32 Kazakh second-tier banks increased the volume of equity. People's Bank showed the largest annual increase - 106.2 billion tenges (15.1 percent) and reached 809.7 billion tenges. By volume of equity the People's Bank is the undisputed leader among Kazakhstan's second-tier banks. For the year its share has grown even more - from 23.5 percent to 26.6 percent.
The People's Bank is followed by Kaspi bank with an increase of 49.6 billion tenges (34.7 percent), reaching 192.5 billion tenges.
House Construction and Savings Bank of Kazakhstan (HCSBK) concludes the top three with an increase of 49.5 billion tenges (38.5 percent), reaching 178.1 billion tenges.
At the same time, the aggregate profit of second-tier banks of Kazakhstan is also growing: after last year's decrease by 0.3 percent, to 204 billion tenges, in 1H18 the volume of profit was 321.2 billion tenges, which is 57.4 percent more than in the same period of 2017.
The official exchange rate was 356.8 KTZ / USD, as of August 13.
Follow the author on Twitter: @Lyaman_Zeyn