business and economy

Bank CenterCredit net income down 11 percent in Jan-Sep

By SRI ⋅ November 20, 2009 ⋅  Email This Post ⋅  Print This Post ⋅ Post a comment

(SRI) - Bank CenterCredit (BCC), Kazakhstan’s sixth largest bank, reported a net income of KZT5.46 billion ($36.4 million) in the first nine months of 2009, down 11 percent compared to the same time period in 2008, according to its preliminary financial statements.

The bank’s assets increased by 18 percent in January through September 2009 from KZT940.5 billion ($6.27 billion) to KZT1.11 trillion ($7.4 billion) while its capital rose by 5.4 percent from KZT94.6 billion ($630 million) to KZT99.71 billion ($665 million).

BCC is partially owned by Korean Kookmin Bank which is in the process of raising its stake from 30.6 percent to 40.1 percent. BCC founder Bakhytbek Baiseitov reportedly controls another 36.42 percent of the bank.

Tags: Bank CenterCredit

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