Kazakhstan's Temirbank raises full-year profit forecast by 16%
16:27, 14 April 2011
ALMATY. April 14. KAZINFORM Temirbank, the Kazakh lender taken over by the government after it defaulted in 2009, raised its profit forecast this year by 16 percent, saying it plans to boost lending.
The lender expects to post a profit of 5 billion tenge ($34 million) this year, up from its October estimate of 4.3 billion tenge, Chief Executive Officer Erzhan Shaikenov told reporters in Almaty today. The bank plans to increase its loan portfolio by as much as 4 percent this year, Shaikenov said.
The lender reported an 81 billion-tenge profit for 2010, compared with a 95 billion-tenge loss in 2009, Shaikenov said, Kazinform refers to Nariman Gizitdinov, Bloomberg.
To contact the reporter on this story: Nariman Gizitdinov in Almaty at ngizitdinov@bloomberg.net
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