In 2016, Nurbank demonstrated positive dynamics in key financial indicators, reported Eldar Sarsenov, Chairman of the Management Board of JSC 'Nurbank'. According to the audited consolidated financial statements, Nurbank's net profit in 2016 increased by 75% and amounted to 374.5 million tenge, while in 2015, the bank's net profit was 213.7 million tenge.
“Despite the current situation in the financial market, Nurbank remains stable and reliable. We are glad that today businesses and the population trust us, as shown by last year's results. This year we will continue to develop, with balanced growth, and implement new services and technologies,” said the head of Nurbank E. Sarsenov.
Key results of Nurbank's activities for 2016:
- The bank's assets increased by 19% and amounted to 381.4 billion tenge, compared to 321.2 billion tenge at the end of 2015. The largest share of the bank's assets consists of loans issued to customers, accounting for 57.6% of assets. At the end of 2015, the share of loans was 61.5%.
- The loan volume grew by 11% or 22.3 billion tenge and amounted to 219.7 billion tenge.
- The securities portfolio amounted to 53.1 billion tenge, having increased over the year by 25% or 10.7 billion tenge.
- The bank's liabilities increased by 21.1% or 59.2 billion tenge. By the end of 2016, the bank's liabilities exceeded 340.4 billion tenge. In the liabilities structure, the share of customer funds placed in current accounts and deposits, excluding government and bank accounts, is 78.8%. The growth in customer funds volumes in 2016 amounted to 62.7 billion tenge or 30.5%.
- Interest income increased by 18%, with a commission income growth of about 2%.
“Dynamic development has allowed us to stabilize our competitive position and financial profile. In turn, favorable product conditions have enabled us to increase the bank's assets by 19% and the inflow of deposits by 30.5%,” noted E. Sarsenov.
Recall that in January 2017, the international rating agency Standard & Poor's affirmed Nurbank's long-term and short-term credit ratings at 'B/B'. Standard & Poor's analysts noted the successful reduction of non-performing loans, as well as the bank's positive growth rates.
As of June 1, 2017, the bank has 16 branches and 85 banking service centers in Kazakhstan. Moreover, the bank has a developed alternative sales network - ATMs, payment and POS terminals, as well as internet banking Nurbank24.