ATFBank (Kazakhstan) announces Y2012 H1 operating results

/KASE, August 8, 12/ - JSC "ATFBank" (Almaty), whose securities are officially listed at Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of August 8, 2012: quote On July 31, 2012 the Board of Directors of JSC "ATFBank" approved an increase in the equity by KZT15 bn my means of offering common shares with the right of preemptive purchase of the UniCredit Group, in the third quarter of 2012, thus increasing the financial strength and ensuring a higher liquidity of the Bank. The Group continues to invest in JSC "ATFBank", maintaining its operations in Kazakhstan. Financial ratios based on Y2012 H1 results according to IFRS: - Operating profit decreased by mere 1.6% compared with last year, making up KZT15.7 bn as a result of a 6.2% increase in fee revenues and a 4.8% decrease in fee expenses, while the net interest income decreased slightly (by 4%). - Operating expenses decreased by 0.6%, making up KZT8.2 bn, following cutting expenses on manpower by 7.3%. - Losses from devaluation (provisions) made up KZT9.5 bn, which is by 9% less than last year, pointing to effective measures of the Bank aimed at slowing down of bad loans' share. - Loss before taxation decreased by 27.1% on last year and equals to KZT1.9 bn. According to the National Bank of the Republic of Kazakhstan, as of May 31, 2012 JSC "ATFBank" occupies the 5th place with regard to assets' volume and 5th place with regard to loan portfolio amongst Kazakhstan's second-tier banks. Besides, JSC "ATFBank" is at the 5th place in terms of deposits, their increase for the first half-year of 2012 made up 4%. The ratio of net borrowings to deposits improved by 10% by the end of June 2012 compared with 2011, which positively influenced the Bank's liquidity. In April 2012 the Bank successfully repaid Eurobonds to the amount of USD200 m, which is equivalent to KZT30 bn. In May 2012 the Bank also repaid subordinated bonds issued under the 1st issue of the 1st bond programme to a total of KZT13 bn. In June this year the Bank issued 5-year senior unsecured bonds. Rating agency Fitch assigned to the KZT15 bn issue a rating in national currency "BBB(EXP)" and national rating "AA+(kaz)(EXP)". The long-term issuer default rating of JSC "ATFBank" in foreign currency remains at "BBB" outlook "negative" according to Fitch as of February 9, 2012 and today ATFBank retains the highest credit rating amongst Kazakhstan's second-tier banks. unquote [2012-08-08]