Business Information Center Kapital
NurBank's net profit in 2014 amounted to 2.6 billion tenge, while 2013 was unprofitable for the bank (-32.3 billion tenge). This was reported by the business information center Kapital.kz, citing consolidated financial statements in accordance with IFRS.
According to the bank, the loan portfolio volume (excluding provisions) at the end of 2014 was 233.9 billion tenge. The bank's assets increased by 46.2% over the year, reaching 369.5 billion tenge. The deposit portfolio grew by 24%, amounting to 189.2 billion tenge. The bank's commission income increased by 13%, mainly in cash and transfer operations. The net interest income of the financial institution before provisions grew by 84%.
The bank's risk-adjusted capital ratio (RAC), calculated using the methodology of the National Bank of Kazakhstan, amounted to about 14.2% as of January 1, 2014.
“Thus, the current level of the bank's capital allows for almost doubling the assets while the RAC ratio will not drop below 10% even with the bank's aggressive growth in the coming years,” the financial institution noted.
The bank commented on its plans. “We intend to increase our share in servicing retail, small and medium-sized businesses. By the end of 2014, the loan portfolio structure was: corporate business - 57%, SME - 24%, retail business - 19%. Plans by 2016 include reducing the corporate business share in the loan portfolio to 48% by increasing the share of SMEs and retail business,” said Kantar Orynbaev, Chairman of NurBank.
The loan portfolio for the corporate sector and SMEs amounted to 188.7 billion tenge as of December 31, 2014. Over the year, this portfolio increased by 5.5%. The share of the corporate sector and SME portfolio in the total loan portfolio was 80.7%.
The volume of corporate sector client funds at the end of last year was about 83 billion tenge, compared to 77 billion tenge at the end of 2013. In 2014, the SME deposit portfolio grew by 64.4%.
The volume of the retail sector loan portfolio as of December 31, 2014, was 45.2 billion tenge, mainly due to commodity and unsecured lending. The share of retail sector loans in the total loans to clients was 19.3%. The share of mortgage loans in the volume of retail sector loans reached 45.18%. The volume of retail clients' funds at the end of 2014 amounted to 70.5 billion tenge. Retail clients' funds in the bank increased by 27.5% over the year.