Kazakh banking sector observes decrease in profit
In January-March 2017, the consolidated income of all Kazakhstani banks made 82.4bln tenge that is 14.1% less compared to the Q1 2016.
Giant banks are turning into the main beneficiaries now. Thus, in Q1 2016, two banks earned 48.7% of the total income of the country’s second-tier banks. This year, one bank only received 42.4% of the consolidated net income.
28 out of 33 second-tier banks made a profit in Q1 2017, while 15 of them raised their profit compared to January-March 2016.
Halyk Bank received the biggest profit in Q1 2017 – KZT34.9bln that is 42.4% of the total income of the country's second-tier banks. In the same period in 2016, the bank ranked the 2nd with its KZT15.1bln income (15.7%).
Kazkommertsbank’s profit in January-March 2017 comprised KZT6.9bln that is 78.2% less than in 2016 (KZT31.7bln).
The profit of City Bank in Q1 2017 fell by 17.8% and made KZT6.6bln only.