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Total net profit of Kazakh commercial banks decreased 92.9% in 2008
Almaty, January 25 2009
Kazakhstan's commercial banks received net profit of 15.4 billion tenge (current FOREX rate is 121.60/$1) in 2008, a decrease of 92.9% year-on-year, the Financial Supervision Agency (FSA) says in a statement.
Over the reported period the total revenues of the second-tier banks came to 2,934.7 billion tenge, or up 63.5% as compared to the last year.
According to the agency, gross equity capital of the banking sector made 11,899.3 billion tenge as of January 1, 2009 demonstrating a 1.8% increase year to date, the gross assets of the banks made 1,953.9 billion tenge, a 9.8% growth.
Liquid assets share to banks' total assets as of January 1, 2009 was 13.6%.
At the same time, the loan portfolios including inter-bank loans increased by 4.2% in 2008 to make 9,238.4 billion tenge in the reporting period.
The structure of the loan portfolios as of January 1, 2009 was as follows: 43.3% of standard loans (39.7% as of January 1, 2008), 52.3% of doubtful loans (58.8% respectively) and 4.4% of bad loans (1.5%).
As at January 1, 2009 the overdue payments against the main debts and interests made up 477.9 billion tenge for all the second tier banks (5.2% of the banks' loan portfolios).
Loans extended to the sectors of economy in 2008 have increased by 496.8 billion tenge or 7.6% and totaled 7,160 billion tenge.
FSA said that total amount deposited by individuals and entities in banks (except for by banks and international financial organizations) was 6,872.6 billion tenge as of January 1, 2009, or an increase of 7% in 2008, including 1.500.3 billion tenge retail deposits (3.6% up in 2008) and 5,372.3 billion tenge corporate deposits (8% up respectively).
As of January 1, 2009 as many as 37 second-tier banks operated in the banking sector of the republic.
The population of Kazakhstan tops 15.7 million people.