Eurasian Bank (Kazakhstan) announces 2013 Q1 operating results

/KASE, May 22, 13/ – JSC "Eurasian Bank" (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of May 22, 2013: quote According to unaudited IFRS-conform consolidated financial statements of the Bank, the net profit of Eurasian Bank in 2013 Q1 increased by 170% on the year before reaching KZT3.77 bn (in the first quarter of last year – KZT1.39 bn). During the mentioned period all main indicators of the bank rose. So, Eurasian Bank's equity increased by 53.66% to KZT51.54 bn. The loan portfolio rose by 33.25% on the first quarter of last year, to KZT394.49 bn, whereas the NPL went down by 3.3% to 7.29%. Assets based on 2013 Q1 results increased by 21.64% to KZT483.53 bn. Return on Average Equity (ROAE) of the Bank compared with January-March 2012 increased by 78.41% to 30.33%.Return on Average Assets (ROAA) for the expired period of the year rose by 110.51%, making up 3.16%, according to IFRS-conform consolidated financial statements of the Bank. In the period of one year, from March 2012 to end of March 2013 deposits of customers of Eurasian Bank rose by 24% from KZT211.12 bn to KZT261.81 bn. At the same time the number of active client accounts in the Bank, compared with the first quarter of last year rose by 47.68% to 926,763. The general client base currently makes up over 1.24 mln. At the growing loan portfolio and strengthening platform, the Bank retained positive development of the net interest margin (NIM) – as of March 31, 2013 it increased by 22.59 % compared with the similar period of 2012, making up 7.85%. Cost to income ratio (CIR) decreased by 11.14% over the year, making up 51.89% as of the end of the first quarter 2013, compared with 58.4% in the similar period of last year. "Over the last three years Eurasian Bank has been showing on all indicators. This year we will continue to actively develop", – says CEO of Eurasian Bank Michael Eggleton. – "We have an excellent team and lots of fresh ideas. Currently our main efforts are aimed at improvement of the infrastructure and client service, reduction of operating risks and implementation of modern technologies and business approaches into the business process". Press-service of JSC "Eurasian Bank" tel. +7 (727) 259 95 99 (ext.4802) Malika.Buldekbayeva@eubank.kz www.eubank.kz unquote [2013-05-22]