Kazakhstan-based Tsesnabank reports 18% decrease in IFRS net profit in Q1

Kazakhstan-based Tsesnabank reports 18% decrease in IFRS net profit in Q1

ALMATY. May 2 (Interfax) – In 2017 Q1, Kazakhstan-based Tsesnabank earned 4.927 billion tenge in net profit, a drop of 17.9% year-on-year, according to the bank’s consolidated financial statements under IFRS.

In the reporting period, pre-tax profit dropped 33% year-on-year to 5.126 billion tenge, net interest income increased by 5.5% to 19.532 billion tenge, net commission income rose by 70% to 3.572 billion tenge.

In January-March 2017, Tsesnabank’s assets edged down 1% to 2.237 trillion tenge, liabilities decreased 1.4% to 2.063 trillion tenge while equity capital grew 3.2% to 173.765 billion tenge, portfolio of deposits increased 2.5% to 1.714 trillion tenge, portfolio of loans up 1.8% to 1.688 trillion tenge.

Tsesnabank’s major shareholders are JSC Financial Holding Tsesna (60.7% of shares), JSC Centralized Accumulative Pension Fund (8.06%), Kinesiokz LLP (5.29%), Apparatkz LLP (5.46%), JSC Management Company Republic (0.39%).

Tsesnabank was ranked 3rd by assets in 2017 Q1 among the 33 second-tier banks operating in Kazakhstan, according to the National Bank.

Current FOREX rate is 314.40 tenge/$1.

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