/KASE, April 21, 09/ - Kazkommertsbank (Almaty), a company listed on
Kazakhstan Stock Exchange (KASE), provided KASE with a press release dated
April 21, 2009:
Quotation beginning
Kazkommertsbank announced today results of its operation in 2008, based on
consolidated audited financial statements (IFRS).
Highlights of 2008
- Net interest income (before provisions for impairment losses) increased by
37.9% up to KZT200 bn. compared with the previous year
- Net profit declined to KZT 20 billion (USD 166 mn.) after KZT 151 billion
(USD 1.3 bn.) of provisions for credit losses
- Total Bank assets declined 12.8% from prior year
- Deposits increased 9.4% year-on-year
- Cost-to-income ratio decreased to 16.9% as a result of tighter cost control
- Core Tier 1 ratio increased to 13.5%
- Total capital ratio increased to 17.7%
- Provisioning rate of 11.9% of gross loans, fully covering non-performing
loans, which represented 8.1% of gross loans
- Net interest margin before provisions for impairment losses up to 8% from
6.1% in 2007
- Kazakh government agency Samruk-Kazyna to take major stake of up to
25% in the Bank
Nina Zhussupova, Chairperson of the Management Board, said: "This has been a
very difficult year for global markets and the Kazakh banking sector, and our
business has not been immune. We demonstrated robust performance in very
difficult conditions and have achieved this by focusing on asset quality and
liquidity management, whilst maintaining our operational efficiency.
"Samruk-Kazyna is becoming a significant shareholder and we see this
investment as an important development as it will give us an opportunity to
participate in the Government's stabilisation programmes" - Nina Zhusupova
added.
Media Relations:
Aliya Nursipatova, Investor Relations
Tel.: +7 (727) 258-51-25, E-mail: investor_relations@kkb.kz
Larissa Kokovinets, Public Relations
Tel.: +7 (727) 258-54-56, E-mail: pr@kkb.kz
Quotation end
The full version of the press release is available at the KASE website at:
http://www.kase.kz/files/emitters/KKGB/kkgb_reliz_210409.pdf
[2009-04-21]