Development Bank of Kazakhstan sees increase in profit
Baku, Azerbaijan, Nov. 10
By Elena Kosolapova – Trend:
Development Bank of Kazakhstan had a net profit of 16.91 billion tenges (341.18 tenges = $1) in January-September 2016, according to the bank’s financial statements posted on the website of the Kazakhstan Stock Exchange (KASE).
The net profit of the bank hit 3.58 billion tenges in the same period of 2015.
The bank’s operating profit during the period reached 33.88 billion tenges as compared to 27.68 billion tenges in the same period of 2015.
The bank’s assets increased from 2.128 trillion tenges in early 2016 to 2.368 trillion tenges in late September 2016. The capital of the bank increased from 356.1 billion tenges to 374.58 billion tenges in January-September 2016.
The bank’s liabilities increased from 1.772 trillion tenges to 1.993 trillion tenges during the period.
Development Bank of Kazakhstan was founded in line with a government decree in 2001. It promotes sustainable development of Kazakhstan’s national economy through investments to non-energy sector of the country.