Visor Capital - The Premier Investment Bank in Kazakhstan
Register | Customer Login |   Language: EN /RU
Visor Capital - The Premier Investment Bank in Kazakhstan
home / News / Latest News
Press Releases
Media Coverage
Events
News Room
Press Materials

Total net profit of Kazakh commercial banks decreased 46.8% in Q1

Almaty, April 15,2008

Kazakhstan ’s commercial banks received net profit of 27.6 billion tenge (current FOREX rate is 120.44/$1) in January-March 2008, or a decrease of 46.8% year-on-year, the Financial Supervision Agency (FSA) says in a statement.

Over the reporting period the total revenues of the second-tier banks came to 657 billion tenge, or up 89.3% as compared to the same period last year, their total expenses grew 2.1 times to 629.3 billion tenge.

According to the agency, gross equity capital of the banking sector made 1,827.3 billion tenge as of April 1, 2008 demonstrating a 2.6% increase year to date, the gross assets of the banks made 11,731.1 billion tenge, a 0.4% growth.

At the same time, the loan portfolios including inter-bank loans decreased by 0.1% to make 8,861.5 billion tenge in the reporting period.

As at April 1, 2008 the overdue payments against the main debts and interests made up 190.5 billion tenge for all the second tier banks.

The structure of the loan portfolios as at April 1, 2008 was as follows: 42.9% of standard loans (39.7% as at January 1, 2008), 55% of doubtful loans (58.8% respectively) and 2.1% of bad loans (1.5%).

FSA said that total amount deposited by individuals and entities in banks (except for by banks and international financial organizations) was 6,571.1 billion tenge as at April 1, or an increase of 2.3% in the first quarter, including 1,500 billion tenge deposits by individuals and 5,071.1 billion tenge deposits by entities.

As at April 1, 2008 as many as 35 second-tier banks operated in the banking sector of the republic.

The population of Kazakhstan tops 15.5 million people.

The money in circulation in February, according to the statement, increased by 1% to 683.9 billion tenge, the deposits in the banking system rose by 1.2% to 3,967.6 billion tenge.

News

© 2006 Visor Capital. All rights reserved.