- Press Releases
- Media Coverage
- Events
- News Room
- Press Materials
Total net profit of Kazakh banks declined 46.5% in January-August
Almaty, September 18 2008
Kazakhstan's banks received net profit of 82.4 billion tenge (current FOREX rate is 119.48/$1) in January-March 2008, or a decrease of 46.5% year-on-year, the Financial Supervision Agency (FSA) says in a statement on Wednesday.
Over the reporting period the total revenues of the second-tier banks came to 1,730 billion tenge, or up 57.3% as compared to the same period last year.
According to the agency, gross equity capital of the banking sector made 1,993.4 billion tenge as of September 1, 2008 demonstrating a 12% increase year to date, the gross assets of the banks made 12,560.7 billion tenge, a 7.5% growth.
Liquid assets share to banks' total assets as of September 1 was 14.9% (August 1- 14.1%).
At the same time, the loan portfolios including inter-bank loans rose 1% in August and by 2% since January to make 9,041.4 billion tenge in the reporting period.
The structure of the loan portfolios as at September 1, 2008 was as follows: 43.2% of standard loans (39.7% as at January 1, 2008), 53.9% of doubtful loans (58.8% respectively) and 2.9% of bad loans (1.5%).
As of September 1, 2008 the overdue payments against the main debts and interests made up 430.7 billion tenge for all the second tier banks, or 4.8% of the bank's loan portfolio (2.2% as of August 1.)
Doubtful an bad loans totaled 519.7 bl tenge or 5.7% to the loan portfolio.
FSA said that total amount of retail and corporate deposits in banks (except for by banks and international financial organizations) was 7,372.4 billion tenge as at September 1, or an increase of 5.7% in August, including 1,557.1 billion tenge in retail deposits (4.2% up in August and 7.5% up from January) and 5,815.3 billion tenge in corporate deposits (6.1% up in August.)
As at September 1, 2008 as many as 36 second-tier banks operated in the banking sector of the republic.
Investment management of pension assets is carried out by 13 organizations, including 9 pension funds licensed to manage their own pension assets.
The population of Kazakhstan tops 15.6 million people.