Alliance Bank (Kazakhstan) announces Y2011 preliminary results
/KASE, January 11, 12/ - JSC "Alliance Bank" (Almaty), whose bonds are officially listed at Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of January 11, 2011:
quote
Alliance Bank JSC has announced preliminary results for expired 2011. According to the financial statements prepared on the basis of unconsolidated, unaudited statements of the Bank provided to KFN (without taking into account final turnovers for 12 months of 2011), net profit of Alliance Bank amounted to KZT 13, 387 million.
The Bank's assets for the period increased by 5.9% (KZT 28, 633 million) in comparison with the beginning of 2011 and amounted to KZT 518, 075 million. Herewith in August the Bank has implemented substantial part of the problem retail portfolio, which affected the growth rate of assets.
Liabilities of the Bank have increased by KZT 66, 072 million or by 14.5% in relation to the beginning of 2011, amounting to KZT 521,674 million. In total deposit portfolio has grown by KZT 84, 911 million, or by 40.8% to KZT 292, 798 million. Deposits of individuals increased by 47.7% (KZT 35, 874 million) and deposits of legal entities by 37% (KZT 49, 037 million), indicating a steady growth in the Bank's reputation.
Deficiency of the Bank's equity, which was formed due to the introduction in July 2011 by the National Bank of RK new account "3300 - Account adjustments to reserves (provisions)" which displays the difference between the amounts of provisions formed in accordance with the requirements of the KFN and IFRS, amounted to KZT -3,599 million.
At the same time, regulatory capital of the Bank (used for calculation of prudential standards) - as before has positive value and exceeds by the results of 2011, sum amounts to KZT 68 billion. All prudential standards established by KFN of the NBK, the Bank complied with the reserve.
The loan portfolio decreased by KZT 9,928 million or 1.8%, mainly due to the sale of a pool of problem retail loans (having overdue, mainly over two years), as well as write-offs of "bad bank" loans to clear the balance sheet at the expense of profit received by the Bank.
Herewith growth in disbursements of loans to retail customers amounted to 327% with respect to a result in 2010, and lending growth to SMEs made 119%.
unquote
The full press-release is available on KASE website, at:
[2012-01-11]