AKIPRESS.COM - Halyk Savings Bank of Kazakhstan announced November 17 its consolidated interim financial results for the nine months of this ended 30 September 2015.

Interest income increased by 16.1% for 9 months 2015 due to increase in average balances of net loans to customers by 15.7% and increase in average interest rate on net loans to customers to 12.4% p.a. for 9 months 2015 from 12.1% p.a. for 9 months 2014. Interest expense increased by 14.4% for 9 months.

2015 vs. 9m 2014 mainly due to local bond issues in 9m 2015 and loans drawn from JSC Entrepreneurship Development Fund “Damu” (“DAMU”) and JSC “Development Bank of Kazakhstan” (“DBK”). The increase in interest expense was partially offset by decrease in average balances of term deposits of legal entities. As a result, net interest income before impairment charge increased by 17.0% to KZT 114.3bn for 9m 2015 vs. 9m 2014.

Operating expenses grew by 12.7% for 9m 2015 vs. 9m 2014 mainl y due to increase in salaries of the Bank’s employees starting from 1 July 2014 and consolidation of JSC Altyn Bank in 4Q 2014.

Total assets increased by 35.0% vs. YE 2014 mainly in cash and cash equivalents (88.8%), loans to customers (19.4%) and financial assets through profit or loss (7.9 times).

Total equity increased by 6.5% vs. 31 December 2014 due to net profit earned during 9m 2015.

The Bank’s regulatory capital adequacy ratios decreased to k1 – 17.6%, k1-2 –17.6% and k2 – 17.8% as at 30 September 2015 from k1 – 19.1%, k1-2 – 19.1% and k2 – 19.4% as at 30 June 2015, whereas Basel Tier 1 capital adequacy ratio and total capital adequacy ratio decreased to 17.9% and 18.3%, respectively, as at 30 September 2015 from 18.7% and 19.4%, respectively, as at 30 June 2015.