Eurasia Bank swings to net loss of 6.7 bln tenge in Jan-June
ALMATY. Aug 2 (Interfax) - Kazakhstan-based Eurasian Bank posted a half-year net loss of 6.696 billion tenge compared to a net profit of 1.46 billion tenge in January-June 2015, according to the bank's unaudited consolidated financial statements to IFRS.
The current FOREX rate is 352.1 tenge/$1.
In January-June 2016, the bank's loss before tax came to 8.544 billion tenge compared to a profit of 2.105 billion tenge before tax in the same period last year. The net interest margin fell by 18.4% to 16.85 billion tenge and operating revenue dropped by 33.9% to 16.447 billion tenge.
In the reporting period the bank's assets declined by 0.7% from December 31, 2015 to 982.015 billion tenge, liabilities edged down by 0.2% to 908.507 billion tenge, and equity capital stood unchanged at 36.110 billion tenge.
Eurasia Bank was ranked 9th by assets in January-March 2016 among the 35 second-tier banks operating in Kazakhstan, according to the country's National Bank.