Russian Sberbank subsidiary in Kazakhstan reports 2.8% decrease in assets under IFRS in Q1
ALMATY. June 1 (Interfax) - In January-March 2017, the assets of Subsidiary Bank of Sberbank of Russia in Kazakhstan decreased 2.8% to 1.603 trillion tenge, according to the bank's press office.
Liabilities decreased 3.5% and amounted to 1.449 trillion tenge, equity increased 4% to 154.498 billion tenge, and authorized capital remained unchanged at 51.5 billion tenge.
The deposit portfolio shrank 6.5% to 1.188 trillion tenge, the loan portfolio was 0.4% down to 888.218 billion tenge.
In the reporting period, the bank's net profit rose 230% to 4.381 billion tenge, net interest income rose by 2.8% to 17.982 billion tenge, operating expenses went up 17% to 14.035 billion tenge, while profit before corporate income tax expenses increased 100% to 4.095 billion tenge.
In January-March 2017, Subsidiary Bank of Sberbank of Russia in Kazakhstan was ranked 4th by assets among the 33 second-tier banks operating in the republic, according to the National Bank of Kazakhstan.