3 Dec 2014 13:17

Halyk Bank to boost IFRS net profit 52% in 2014

ALMATY. Dec 3 (Interfax) - Kazakhstan-based Halyk Bank expects its net profit to International Financial Reporting Standards (IFRS) 52% to 110 billion tenge in 2014, Halyk Bank CEO Umut Shayakhmetova told a press conference.

This year, the bank's expenditures will account for 30% of its revenue, the loan portfolio will grow 5-7%, net margin will come in at 5.7%, return on capital at over 25%, she said.

In 2013, Halyk Bank earned 72.4 billion tenge in consolidated net profit under IFRS standards (181.09 tenge/$1 on Dec. 3).

Halyk Bank is ranked 2nd by assets among the 38 second tier banks operating in the republic.