Kazkommertsbank announces operating results for first half-year of 2014

30.09.14 18:05
/KASE, September 30, 14/ – Kazkommertsbank JSC (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of September 30, 2014: quote JSC Kazkommertsbank ("KKB" or the "Bank") (LSE: KKB; KASE: KKGB), one of the largest banks in Kazakhstan and Central Asia, today announces its audited consolidated IFRS financial results for the six months ended 30 June 2014. Highlights of the 1H 2014 results: - Kazkommertsbank completed the purchase of 46.5% of BTA common shares. Meanwhile, JSC NWF Samruk-Kazyna transferred its remaining 4.26% in JSC BTA Bank to the Bank under a trust agreement providing the Bank with operational control of JSC BTA Bank. - As the transaction was completed on the last day of the reporting period, it affected only the balance sheet of consolidated financial statements for the period ended 30 June 2014. - Total assets increased by 67.9% to KZT 4,341 billion from KZT 2,586 billion as at year end 2013 - Total deposits increased by 46.2% year-to-date to KZT 2,459 billion - Tier 1 Capital Adequacy ratio at 13.1% - Total Capital Adequacy ratio at 14.7% - Adjusted Net Interest Margin at 3.9% - Net income amounted to KZT 13.9 billion in 1H 2014 compared to KZT 14.8 billion in 1H 2013 - Provisioning rate on loan portfolio at 59.7% unquote The full version of the press-release is available on KASE website at: - http://www.kase.kz/files/emitters/KKGB/kkgb_reliz_300914.pdf – in Russian; - http://www.kase.kz/files/emitters/KKGB/kkgb_reliz_300914_en.pdf – in English. [2014-09-30]