Kazakh banks' net profit highest over past 5 years

Baku, Azerbaijan, Dec. 12

By Rashid Shirinov – Trend:

In January–October 2018, the revenues of Kazakhstan's second-tier banks increased by 2.4 percent year-on-year and amounted to 27.7 trillion tenge, Trend reports citing Finprom.kz.

The bulk of the revenues was income not related to remuneration (93.7 percent, 26 trillion tenge), while the revenues related to remuneration accounted for 6.3 percent (1.7 trillion tenge).

In the structure of revenues, the main share accounts for revaluation income (84.7 percent, 23.5 trillion tenge), as well as the income on bank claims on customers (4.7 percent, 1.3 trillion tenge), and income from the recovery of reserves (3.5 percent, 1 trillion tenge).

The net profit of Kazakhstan's second-tier banks for the first 10 months of this year amounted to 566.5 billion tenge. This was the highest figure over the past five years.

Halyk Bank had the best net profit indicators in the reporting period (238.8 billion tenge, 94.7 percent up year-on-year). Kaspi Bank ranked second (85.4 billion tenge, 94.5 percent up), and Sberbank was third (39.8 billion tenge, more than 3.5 times up).

The Top-5 also included Citibank and House Construction Savings Bank. Their net profits amounted to 25.3 billion and 24.5 billion tenge, respectively.

Meanwhile, three banks were loss-making: AsiaCredit Bank (1,2 billion tenge), National Bank of Pakistan (77,1 million tenge) and Bank Kassa Nova (37,3 million tenge).

(370.55 KZT = 1 USD on Dec. 12)

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Follow the author on Twitter: @ShirinovRashid

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