Profit Of Kazakh Tengri Bank Considerably Down
Kazakhstan’s Tengri bank had 105.49 million tenges (310.66 tenges = $1) of net profit in 1Q2017 as compared to 430.4 million tenges in the same period of 2016, according to the bank’s financial statements posted on the website of the Kazakhstan Stock Exchange (KASE).
The bank’s revenues in this period hit 132.94 million tenges compared to 315.76 million tenges in 1Q2016.
The bank’s assets decreased from 71.42 billion tenges in the beginning of 2017 to 69.26 billion tenges at the end of March.
The capital of the bank increased from 22.41 billion tenges to 22.55 billion tenges in January-March 2017. Its liabilities decreased from 49.01 billion tenges to 46.71 billion tenges in the reporting period.
Tengri Bank founded in 1992 under the name of Danabank provides a wide range of banking services to legal entities as well as individuals.
In March 2017 the shareholders of Kazakhstan’s Tengri Bank signed a memorandum of intent to merge with Capital Bank Kazakhstan. The bank’s consolidated capital will be 43.2 billion tenges and the bank will rise to the 17th place among second tier banks in Kazakhstan.