Kazakh Bank CenterCredit Posts 5.5% Decline In IFRS Assets In 2016

Bank CenterCredit Announces Changes To The Board

In 2016, Bank CenterCredit posted a 5.5% decline in assets to 1.362 trillion tenge, according to the bank’s consolidated audited financial statements under IFRS.

Bank CenterCredit (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), announced that 2016 consolidated financial statements have been released.

The letter was published on KASE website.

Tsesnabank is discussing possibile merger deal with Bank CenterCredit after purchasing Korean Kookmin Bank’s share.

JSC Bank CenterCredit is one of the top commercial banks in Kazakhstan in terms of assets and total deposits. The Bank’s primary business consists of corporate and retail banking. Its corporate banking activities include a broad range of wholesale banking products to a diversified group of domestic customers, primarily small and medium sized companies.The Bank’s retail banking activities and products include retail lending and deposit taking and credit and debit cards. The Bank is also an active participant in the fixed income securities market and foreign currency markets in Kazakhstan.

The Bank’s objects, as set out in the Bank’s Articles of Association, are to promote the development of the state economy and to ensure the receipt of dividends by the Bank’s shareholders through a variety of banking operations in compliance with the laws of Kazakhstan.