Support The Moscow Times!

Kazkommertsbank Q3 Up

Kazkommertsbank, which vies with Halyk Bank to be the largest lender in Kazakhstan by assets, said in a statement on Friday that net profit reached 19.6 billion tenge ($131.8 million) in the first nine months of the year.

Net interest income before provisions for impairment losses rose by 6 percent to 91.5 billion tenge, while other income more than quadrupled due largely to gains on the bank's foreign exchange and precious metals operations. These gains were partly offset by a 2 percent year-on-year increase in operating expenses.

Kazkommertsbank, which operates subsidiaries in Kyrgyzstan and Tajikistan, had total assets of 2.56 trillion tenge ($17.0 billion) as of Sept. 30.

Though it regularly trades first place with Halyk Bank in terms of total assets, Halyk is more profitable, with net profit of almost 54 billion tenge ($359 million) in the first nine months.

(Reuters)

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more