Kazakhstan – Kazkommertsbank reports results for 9M 2012: net profit rises 9.4% to € 101 mln, but total assets, core tier 1 adequacy ratio, and NPL ratio stagnate – UPDATED

On 7 December the commercial bank Kazkommertsbank («Казкоммерцбанк» АҚ) published interim financial information for the first nine months of 2012.  (1 EUR = 194.24 KZT.)

Total assets (активы) as of 30 September were 2,559.20 bln KZT (€ 13.2 bln), slightly below the figure of 2,565.69 bln KZT for the beginning of the year.  Net profit for 9M 2012 was 19.61 bln KZT (€ 100.96 mln), 9.4% higher than net profit in the year-earlier period.  As of 30 September gross loans had increased by 4.8% since the beginning of the year and retail deposits by 8.9%, but the bank’s Core Tier 1 ratio stood at 18.2%, a slight decrease from 18.6% at the beginning of the year, and its ratio of non-performing loans (NPLs – недействующие займы) was 28.7%, almost unchanged from 28.6% at the beginning of the year.

As of 1 October 2012 the shareholder structure of Kazkommertsbank was as follows:

Shareholder	% of common shares
Central Asian Investment Company – CAIC («Орталық Азиялық инвестициялық компания» – ОАИК)	23.83
Mr. Nurzhan S. Subkhanberdin (Нұржан Сәлкенұлы Сұбханбердин), chairman of the board of Kazkommertsbank and owner of 87.21% of CAIC	9.32
АО Alnair Capital Holding АҚ  (Альнаир)	28.76
Samruk-Kazyna National Welfare Fund («Самұрық-Қазына» Ұлттық әл-ауқат қоры» АҚ)	21.26
European Bank for Reconstruction and Development (EBRD)	9.32
Other minority shareholders	7.06

Sources:

Сжатая промежуточная консолидированная финансовая информация (не аудировано) за девять месяцев, закончившихся 30 сентября 2012 г. (2012-12-07)

АО "Казкоммерцбанк" (Казахстан) сообщило результаты своей деятельности за девять месяцев 2012 года (2012-12-07 14:39)

Казкоммерцбанк планирует рост ссудного портфеля в 2012г на уровне 2-3% (2012-12-07 18:03)

Состав акционеров АО «Казкоммерцбанк» (2012-10-01)

Mark Pleas

Eastern Europe Banking & Deposits Consultant

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