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Halyk Posts Biggest First-Quarter Profit Among Kazakh Lenders

April 28 (Bloomberg) -- AO Halyk Savings Bank, controlled by President Nursultan Nazarbayev’s daughter and son-in-law, posted the biggest first-quarter profit among Kazakh banks.

Halyk’s net income rose to 7.4 billion tenge ($51 million) from 5.9 billion tenge a year earlier, the Almaty-based central bank’s financial oversight committee said in a monthly report on its website. The figures are based on unconsolidated data calculated in accordance with Kazakh accounting standards.

Halyk Bank said last month that 2011 profit may rise as much as 24 percent to 45 billion tenge as lending increases and the loan quality improves. The nation’s second-biggest bank by assets on March 30 bought back most of a 19.8 percent stake the government acquired in 2009.

The following table shows the three-month performance of Kazakhstan’s six largest lenders, along with 14th-ranked Temirbank, and their position as of April 1. The data from the oversight committee are in billions of tenge:

Bank                 Assets     Loans    Provisions  Profit/
                             Outstanding              Loss

Kazkommertsbank      2,412.7   2,293.3      737.5       0.27
Halyk Bank           2,163.4   1,217.1      295.0       7.41
BTA Bank             1,989.7   1,641.2      907.0       0.92
Bank Centercredit    1,171.9     747.8      111.4       0.37
ATF Bank             1,006.8     857.0      144.2     -15.01
Alliance Bank          508.1     557.4      315.7      -1.58
Temirbank              197.6     208.3      109.0       1.80
All 39 Banks        12,360.3   9,127.2    2,837.1      -0.36


To contact the reporter on this story: Nariman Gizitdinov in Almaty at

To contact the editor responsible for this story: Stephen Voss at

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