Net loss of Kazakh banks decreases
Baku, Azerbaijan, May 3
In March 2019 the net loss of Kazakhstan's banking sector decreased from 102.1 billion tenge (February 2019) to 50.3 billion tenge, Trend reports via Association of Financiers of Kazakhstan.
“Finance results of the banking sector in March supported the further revenue growth of the Halyk Bank of Kazakhstan (+16.5 billion tenge) and of the Kaspi Bank (+10.8 billion tenge), as well as the reduction of expenditures of the First Heartland Jýsan Bank (-6.5 billion tenge),” the report said.
“Excluding the First Heartland Jýsan Bank, the total volume of banking sector profit amounted to 158.7 billion tenge compared to 203.6 billion tenge of the same period of 2018. Net Income Margin (NIM) and Net Interest Spread (NIS) indicators amounted to 5.02 (5.05 in the same period of last year) percent and 3.86 percent (3.93 percent in the same period of last year) respectively,” reads the message.
“Due to the reduction of the expenditures average indicators of cost efficiency of assets and of equity displayed an increase. The ROAA indicator increased from -0.4 percent to -0.2 percent, while the ROAE indicator increased from -3.4 percent to -1.7 percent,” said the statement.