ForteBank

ForteBank's net profit rose 47.7% to KZT 29.0 bil in 2018

By Helgi Analytics - September 25, 2019

ForteBank made a net profit of KZT 29.0 bil under revenues of KZT 80.3 bil in 2018, up 47.7% and 27.2% respectively compared to the p...

ForteBank's npls (as % of loans) rose 182% to 23.7% in 2018

By Helgi Analytics - September 25, 2019

ForteBank's non-performing loans reached 23.7% of total loans at the end of 2018, up from 8.39% compared to the previous year. ...

ForteBank's net interest margin fell 5.65% to 3.15% in 2018

By Helgi Analytics - September 25, 2019

ForteBank's net interest margin amounted to 3.15% in 2018, down from 3.34% compared to the previous year. Historically, th...

Profit Statement 2016 2017 2018
Net Interest Income KZT bil 42.6 44.4 49.4
Fee Income (As % Of Revenues) % 3.19 16.6 17.9
Other Income KZT bil 11.6 8.20 16.5
Total Revenues KZT bil 56.0 63.1 80.3
Staff Cost KZT bil 18.3 19.6 19.0
Operating Profit KZT bil 21.4 24.8 39.0
Provisions KZT bil 2.54 0.086 5.00
Net Profit KZT bil 11.8 19.7 29.0
Balance Sheet 2016 2017 2018
Interbank Loans KZT bil 10.7 6.39 18.2
Customer Loans KZT bil 624 672 690
Debt Securities KZT bil 257 373 580
Total Assets KZT bil 1,215 1,445 1,689
Shareholders' Equity KZT bil 178 194 201
Interbank Borrowing KZT bil 69.2 75.9 72.1
Customer Deposits KZT bil 803 981 1,076
Issued Debt Securities KZT bil 157 185 333
Ratios 2016 2017 2018
ROE % 6.83 10.6 14.7
ROA % 1.03 1.48 1.85
Costs (As % Of Assets) % 3.03 2.88 2.63
Costs (As % Of Income) % 61.7 60.6 51.4
Capital Adequacy Ratio % 22.6 20.8 17.8
Net Interest Margin % 3.73 3.34 3.15
Loans (As % Of Deposits) % 77.7 68.5 64.1
NPLs (As % Of Loans) % 11.1 8.39 23.7
Provisions (As % Of NPLs) % 74.3 86.8 37.9
Growth Rates 2016 2017 2018
Total Revenue Growth % -9.53 12.7 27.2
Operating Cost Growth % 3.32 10.7 7.83
Operating Profit Growth % -24.6 15.8 57.0
Net Profit Growth % 60.1 66.8 47.7
Customer Loan Growth % -0.950 7.68 2.65
Total Asset Growth % 13.7 18.9 16.9
Customer Deposit Growth % 21.6 22.2 9.62
Shareholders' Equity Growth % 6.52 9.15 3.32

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summary Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                    
Net Interest Income KZT bil       6.35 13.3 15.3 33.2 42.6    
Total Revenues KZT bil       16.4 28.4 186 61.9 56.0    
Operating Profit KZT bil       -2.18 11.7 161 28.5 21.4    
Net Profit KZT bil       0.640 -84.8 171 7.36 11.8    
balance sheet                    
Interbank Loans KZT bil       0.329 0.197 12.2 12.8 10.7    
Customer Loans KZT bil       389 308 561 630 624    
Debt Securities KZT bil ... ... ... ... ... 159 107 257    
Total Assets KZT bil       590 476 909 1,069 1,215    
Shareholders' Equity KZT bil       11.1 -75.1 155 167 178    
Interbank Borrowing KZT bil ... ... ... ... ... 33.4 63.7 69.2    
Customer Deposits KZT bil       337 308 514 660 803    
Issued Debt Securities KZT bil       154 241 189 169 157    
ratios                    
ROE %       10.5 265 430 4.58 6.83    
ROA %       0.114 -15.9 24.7 0.744 1.03    
Costs (As % Of Assets) %       3.31 3.13 3.55 3.38 3.03    
Costs (As % Of Income) %       113 58.7 13.2 54.0 61.7    
Capital Adequacy Ratio % ...     18.9 ... ... 21.6 22.6    
Net Interest Margin %       1.13 2.49 2.22 3.36 3.73    
Interest Income (As % Of Revenues) %       38.8 46.7 8.27 53.7 76.0    
Fee Income (As % Of Revenues) %       34.1 32.3 1.68 6.88 3.19    
Staff Cost (As % Of Total Cost) % ... ... ... ... ... 31.3 53.9 53.1    
Equity (As % Of Assets) %       1.89 -15.8 17.0 15.6 14.6    
Loans (As % Of Deposits) %       115 100 109 95.4 77.7    
Loans (As % Assets) %       65.9 64.7 61.7 58.9 51.3    
NPLs (As % Of Loans) % ... ... ... ... ... 11.9 14.3 11.1    
Provisions (As % Of NPLs) % ... ... ... ... ... 107 52.1 74.3    
income statement Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                    
Interest Income KZT bil       52.1 66.0 56.0 85.2 107    
Interest Cost KZT bil       45.7 52.8 40.7 51.9 64.4    
Net Interest Income KZT bil       6.35 13.3 15.3 33.2 42.6    
Net Fee Income KZT bil       5.58 9.17 3.13 4.26 1.79    
Other Income KZT bil       4.44 5.97 167 24.4 11.6    
Total Revenues KZT bil       16.4 28.4 186 61.9 56.0    
Staff Cost KZT bil ... ... ... ... ... 7.70 18.0 18.3    
Depreciation KZT bil ... ... ... ... ... 1.95 3.42 3.08    
Other Cost KZT bil ... ... ... ... ... 14.9 12.0 13.1    
Operating Cost KZT bil       18.5 16.7 24.6 33.5 34.6    
Operating Profit KZT bil       -2.18 11.7 161 28.5 21.4    
Provisions KZT bil       -2.77 78.4 23.4 14.0 2.54    
Extra and Other Cost KZT bil       0 0 0 0 0    
Pre-Tax Profit KZT bil       0.598 -66.7 138 14.5 18.9    
Tax KZT bil       -0.042 18.2 -33.5 7.05 7.26    
Minorities KZT bil       0 0 0 0.067 -0.133    
Net Profit KZT bil       0.640 -84.8 171 7.36 11.8    
Dividends KZT bil ... ... ... ... ... ... ... 4.53   ...
growth rates                    
Net Interest Income Growth % ...     -38.4 109 15.6 117 28.1    
Net Fee Income Growth % ...     30.5 64.4 -65.9 36.4 -58.1    
Total Revenue Growth % ...     -40.9 73.6 553 -66.6 -9.53    
Operating Cost Growth % ...     -8.34 -10.1 47.4 36.2 3.32    
Operating Profit Growth % ...     -129 -640 1,271 -82.3 -24.6    
Pre-Tax Profit Growth % ...     -97.2 -11,247 -307 -89.5 30.6    
Net Profit Growth % ...     -98.4 -13,358 -302 -95.7 60.1    
balance sheet Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
balance sheet                    
Cash KZT bil       17.1 16.1 88.6 202 177    
Interbank Loans KZT bil       0.329 0.197 12.2 12.8 10.7    
Customer Loans KZT bil       389 308 561 630 624    
Retail Loans KZT bil ... ... ... ... ... 224 197 188    
Mortgage Loans KZT bil ... ... ... ... ... 106 106 103    
Consumer Loans KZT bil ... ... ... ... ... 117 91.4 85.4    
Corporate Loans KZT bil ... ... ... ... ... 113 117 118    
Debt Securities KZT bil ... ... ... ... ... 159 107 257    
Fixed Assets KZT bil ... ... ... ... ... 25.1 42.0 54.2    
Total Assets KZT bil       590 476 909 1,069 1,215    
Shareholders' Equity KZT bil       11.1 -75.1 155 167 178    
Of Which Minority Interest KZT bil ... ... ... ... ... 0.709 0.776 0.545    
Liabilities KZT bil       579 551 755 902 1,037    
Interbank Borrowing KZT bil ... ... ... ... ... 33.4 63.7 69.2    
Customer Deposits KZT bil       337 308 514 660 803    
Retail Deposits KZT bil ... ... ... ... ... ... ... ...    
Corporate Deposits KZT bil ... ... ... ... ... ... ... ...    
Sight Deposits KZT bil ... ... ... ... ... ... ... ...    
Term Deposits KZT bil ... ... ... ... ... ... ... ...    
Issued Debt Securities KZT bil       154 241 189 169 157    
Other Liabilities KZT bil ... ... ... ... ... 18.5 9.82 8.11    
asset quality                    
Non-Performing Loans KZT bil ... ... ... ... ... 76.4 97.6 75.2    
Gross Loans KZT bil ... ... ... ... ... 643 681 680    
Total Provisions KZT bil ... ... ... ... ... 81.9 50.9 55.9    
growth rates                    
Customer Loan Growth % ...     18.3 -20.9 82.4 12.2 -0.950    
Retail Loan Growth % ... ... ... ... ... ... -11.8 -4.64    
Mortgage Loan Growth % ... ... ... ... ... ... -0.510 -2.94    
Consumer Loan Growth % ... ... ... ... ... ... -22.1 -6.61    
Corporate Loan Growth % ... ... ... ... ... ... 3.99 0.441    
Total Asset Growth % ...     11.3 -19.4 91.1 17.6 13.7    
Shareholders' Equity Growth % ...     980 -774 -306 7.97 6.52    
Customer Deposit Growth % ...     14.6 -8.81 67.0 28.5 21.6    
Retail Deposit Growth % ... ... ... ... ... ... ... ... ...  
Corporate Deposit Growth % ... ... ... ... ... ... ... ... ...  
ratios Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ratios                    
ROE %       10.5 265 430 4.58 6.83    
ROA %       0.114 -15.9 24.7 0.744 1.03    
Costs (As % Of Assets) %       3.31 3.13 3.55 3.38 3.03    
Costs (As % Of Income) %       113 58.7 13.2 54.0 61.7    
Capital Adequacy Ratio % ...     18.9 ... ... 21.6 22.6    
Tier 1 Ratio % ...     9.10 ... ... 18.7 20.1    
Net Interest Margin %       1.13 2.49 2.22 3.36 3.73    
Interest Spread % ...     1.04 3.05 1.86 2.34 2.73    
Asset Yield %       9.30 12.4 8.09 8.61 9.37    
Cost Of Liabilities % ...     8.26 9.34 6.23 6.27 6.64    
Payout Ratio % ... ... ... ... ... ... ... 38.5   ...
Interest Income (As % Of Revenues) %       38.8 46.7 8.27 53.7 76.0    
Fee Income (As % Of Revenues) %       34.1 32.3 1.68 6.88 3.19    
Other Income (As % Of Revenues) %       27.1 21.0 90.1 39.4 20.8    
Staff Cost (As % Of Total Cost) % ... ... ... ... ... 31.3 53.9 53.1    
Equity (As % Of Assets) %       1.89 -15.8 17.0 15.6 14.6    
Loans (As % Of Deposits) %       115 100 109 95.4 77.7    
Loans (As % Assets) %       65.9 64.7 61.7 58.9 51.3    
NPLs (As % Of Loans) % ... ... ... ... ... 11.9 14.3 11.1    
Provisions (As % Of NPLs) % ... ... ... ... ... 107 52.1 74.3    
Provisions (As % Of Loans) % ... ... ... ... ... 14.6 8.08 8.96    
Cost of Provisions (As % Of Loans) %       -0.773 22.5 5.38 2.35 0.405    
other data Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
other data                    
Sight (As % Of Customer Deposits) % ... ... ... ... ... ... ... ...    

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ForteBank's net interest income rose 11.2% to KZT 49.4 bil in 2018

By Helgi Analytics - September 25, 2019

ForteBank generated total banking revenues of KZT 80.3 bil in 2018, up 27.2% compared to the previous year. Historically, the bank’s revenues containing of interest, fee and other non-interest income reached an all time high of KZT 353 bil in 2010 and an all ti...

ForteBank's capital adequacy ratio fell 14.4% to 17.8% in 2018

By Helgi Analytics - September 25, 2019

ForteBank's capital adequacy ratio reached 17.8% at the end of 2018, down from 20.8% compared to the previous year. Historically, the bank’s capital ratio hit an all time high of 22.6% in 2016 and an all time low of 13.9% in 2010. The Tier 1 ratio amounted to...

ForteBank's corporate loans fell 10.3% to KZT 115 bil in 2018

By Helgi Analytics - September 25, 2019

ForteBank's loans reached KZT 758 bil in the 2018, up from KZT 725 bil compared to the previous year. Historically, the bank’s loans reached an all time high of KZT 758 bil in 2018 and an all time low of KZT 643 bil in 2014. In the last decade, the aver...

ForteBank's customer loan growth fell 65.5% to 2.65% in 2018

By Helgi Analytics - September 25, 2019

ForteBank's customer loan growth reached 2.65% in 2018, down from 7.68% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 82.4% in 2014 and an all time low of -20.9% in 2013. In the last decade, the average a...

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Finance

ForteBank has been growing its revenues and asset by 9.04% and 16.5% a year on average in the last 3 years. Its loans and deposits have grown by 3.07% and 17.7% a year during that time and loans to deposits ratio reached 64.1% at the end of 2018. The company achieved an average return on equity of 10.7% in the last three years with net profit growing 58.0% a year on average. In terms of operating efficiency, its cost to income ratio reached 51.4% in 2018, compared to 57.9% average in the last three years.

Equity represented 11.9% of total assets or of loans at the end of 2018. ForteBank's non-performing loans were 23.7% of total loans while provisions covered some 37.9% of NPLs at the end of 2018.

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