According to the preliminary results of the unaudited financial statements, the bank's net profit in 2021 amounted to 2.1 billion tenge.
Despite the ongoing quarantine restrictions, JSC "Nurbank" actively lent to the real sector of the economy, increasing its loan portfolio as of January 1, 2022, to 260 billion tenge, which is 26 billion tenge or 11.2% more compared to the same period last year. The volume of the non-performing loan portfolio (NPL) is 6.31% of the total loan portfolio.
The bank was most active in lending to large corporate, medium-sized, micro, and small businesses. Corporate lending increased by 16.4%, reaching 124.2 billion tenge. Loans issued to individuals grew by 3% compared to the same period last year.
Despite the overall slowdown in the loan market, the bank successfully specializes in lending, both through its own resources and within the framework of government programs to support business. Corporate business is viewed by the bank not only as a classic credit issuance model but also as a sales channel with high potential. It allows for a rapid increase in customer bases in other segments, such as small and retail business.
It is worth noting that to support clients, in 2021, the bank participated in state programs for those affected by the pandemic, and payment deferrals were granted to small and medium-sized business entrepreneurs on all loans. For loans showing signs of impairment, about 80 billion tenge (stage 3 loans), the bank has adequately formed provisions (at the level of 50%), which serves as a good "safety cushion" in case of loan defaults.
"Most borrowers are operating steadily but have temporary difficulties repaying loans on time. It should be noted that borrowers' debts are secured by appropriate collateral. As we have emphasized before, the bank is a partner to its clients and always strives to accommodate borrowers, structuring individual payment schedules and resolving any arising issues to support borrowers' businesses and does not rush to liquidate collateral assets. The more stable and resilient the borrowers, the stronger the country's economy. Therefore, loans in the third stage can, to some extent, be seen as the bank's openness and loyalty to its borrowers," said Risk Management Director Eliza Kozykeeva.
The capital adequacy ratio, a major indicator of the bank's stability, exceeds the regulatory standard by several times (22%).
The high liquidity ratios, which are 35% of the bank's assets and mostly invested in government securities and National Bank notes, allow the bank to continue active lending in 2022.
Overall, the past year was positive for the bank, with a trend towards improving this result in the current year. It should be recalled that in January 2022, the international rating agency "S&P Global Ratings," one of the world leaders in providing independent research and benchmark indicators related to credit risk assessment, confirmed JSC "Nurbank's" credit ratings at the level of "B-/B," with a "Stable" outlook.
Source: nur.kz