Kaspi Bank

Kaspi Bank's net profit rose 28.5% yoy to KZT 29.7 bil in 1Q2019

By Helgi Analytics - October 24, 2019

Kaspi Bank made a net profit of KZT 29.7 bil under revenues of KZT 70.8 bil in the first quarter of 2019, up 28.5% and 37.4% ...

Kaspi Bank's net interest income rose 46.8% yoy to KZT 26.6 bil in 1Q2019

By Helgi Analytics - October 24, 2019

Kaspi Bank generated total banking revenues of KZT 70.8 bil in the first quarter of 2019, up 37.4% when compared to the same peri...

Kaspi Bank's net interest margin rose 23.7% yoy to 6.09% in 1Q2019

By Helgi Analytics - October 24, 2019

Kaspi Bank's net interest margin amounted to 6.09% in the first quarter of 2019, up from 1.21% when compared to the previous qua...

Profit Statement 2016 2017 2018
Net Interest Income KZT bil 42.8 60.8 91.6
Fee Income (As % Of Revenues) % 71.1 67.5 63.9
Other Income KZT bil -4.48 -6.40 -5.91
Total Revenues KZT bil 133 167 237
Staff Cost KZT bil 21.4 25.9 26.2
Operating Profit KZT bil 84.7 110 173
Provisions KZT bil 76.2 27.7 52.6
Net Profit KZT bil 5.42 69.2 99.5
Balance Sheet 2016 2017 2018
Interbank Loans KZT bil 1.55 8.33 22.9
Customer Loans KZT bil 715 891 1,067
Debt Securities KZT bil 292 213 357
Total Assets KZT bil 1,219 1,472 1,699
Shareholders' Equity KZT bil 137 169 210
Interbank Borrowing KZT bil 40.3 63.2 0.049
Customer Deposits KZT bil 815 1,001 1,237
Issued Debt Securities KZT bil 205 232 245
Ratios 2016 2017 2018
ROE % 4.00 45.3 52.5
ROA % 0.433 5.14 6.28
Costs (As % Of Assets) % 3.83 4.28 4.02
Costs (As % Of Income) % 36.2 34.4 26.9
Capital Adequacy Ratio % 24.1 20.9 23.0
Net Interest Margin % 3.42 4.52 5.78
Loans (As % Of Deposits) % 87.8 89.0 86.2
NPLs (As % Of Loans) % 22.5 11.6 17.6
Provisions (As % Of NPLs) % 46.5 79.2 57.8
Growth Rates 2016 2017 2018
Total Revenue Growth % -7.19 26.3 41.5
Operating Cost Growth % 3.83 20.1 10.5
Operating Profit Growth % -12.5 29.8 57.9
Net Profit Growth % -64.9 1,177 43.8
Customer Loan Growth % -8.68 24.7 19.7
Total Asset Growth % -5.22 20.8 15.4
Customer Deposit Growth % -0.422 22.9 23.6
Shareholders' Equity Growth % 1.57 24.0 24.1

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summary Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                  
Net Interest Income KZT bil ...   36.3 68.3 63.2 61.3 42.8    
Total Revenues KZT bil ...   75.3 133 135 143 133    
Operating Profit KZT bil ...   48.8 96.0 96.2 96.7 84.7    
Net Profit KZT bil ...   19.1 39.3 41.0 15.4 5.42    
balance sheet                  
Interbank Loans KZT bil ...   1.59 8.86 0.655 0.749 1.55    
Customer Loans KZT bil ...   435 642 780 783 715    
Debt Securities KZT bil ...   36.6 75.7 70.9 169 292    
Total Assets KZT bil ...   583 872 1,034 1,286 1,219    
Shareholders' Equity KZT bil ...   68.1 93.0 133 134 137    
Interbank Borrowing KZT bil ...   39.0 55.1 52.0 47.6 40.3    
Customer Deposits KZT bil ...   417 583 714 818 815    
Issued Debt Securities KZT bil ...   33.0 88.4 97.4 260 205    
ratios                  
ROE % ...   32.2 48.8 36.2 11.5 4.00    
ROA % ...   3.76 5.40 4.30 1.33 0.433    
Costs (As % Of Assets) % ...   5.23 5.06 4.08 3.98 3.83    
Costs (As % Of Income) % ...   35.2 27.7 28.8 32.3 36.2    
Capital Adequacy Ratio % ...   19.0 17.3 18.8 21.5 24.1    
Net Interest Margin % ...   7.16 9.39 6.63 5.28 3.42    
Interest Income (As % Of Revenues) % ...   48.1 51.4 46.8 42.9 32.3    
Fee Income (As % Of Revenues) % ...   51.3 50.3 57.3 63.9 71.1    
Staff Cost (As % Of Total Cost) % ...   51.6 52.4 48.6 52.0 44.7    
Equity (As % Of Assets) % ...   11.7 10.7 12.9 10.5 11.2    
Loans (As % Of Deposits) % ...   104 110 109 95.7 87.8    
Loans (As % Assets) % ...   74.6 73.7 75.4 60.9 58.7    
NPLs (As % Of Loans) % ...   18.3 21.7 20.6 25.3 22.5    
Provisions (As % Of NPLs) % ...   81.8 62.1 53.1 30.3 46.5    
income statement Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                  
Interest Income KZT bil ...   71.0 114 125 129 129    
Interest Cost KZT bil ...   34.7 45.8 61.7 67.8 86.2    
Net Interest Income KZT bil ...   36.3 68.3 63.2 61.3 42.8    
Net Fee Income KZT bil ...   38.7 66.9 77.4 91.3 94.3    
Other Income KZT bil ...   0.421 -2.28 -5.57 -9.71 -4.48    
Total Revenues KZT bil ...   75.3 133 135 143 133    
Staff Cost KZT bil ...   13.7 19.3 18.9 24.0 21.4    
Depreciation KZT bil ...   1.91 2.42 3.46 4.33 4.47    
Other Cost KZT bil ...   10.9 15.1 16.5 17.9 22.1    
Operating Cost KZT bil ...   26.5 36.8 38.9 46.2 48.0    
Operating Profit KZT bil ...   48.8 96.0 96.2 96.7 84.7    
Provisions KZT bil ...   25.4 46.6 46.5 79.1 76.2    
Extra and Other Cost KZT bil ...   0.029 0 0.001 0 0.001    
Pre-Tax Profit KZT bil ...   23.4 49.4 49.6 17.6 8.45    
Tax KZT bil ...   4.37 10.1 8.63 2.16 3.03    
Minorities KZT bil ...   0 0 0 0 0    
Net Profit KZT bil ...   19.1 39.3 41.0 15.4 5.42    
Dividends KZT bil     14.7 0.018 13.1 0 34.6   ...
growth rates                  
Net Interest Income Growth % ... ... 19.4 88.3 -7.42 -3.00 -30.1    
Net Fee Income Growth % ... ... 155 73.0 15.8 18.0 3.25    
Total Revenue Growth % ... ... 65.2 76.4 1.64 5.83 -7.19    
Operating Cost Growth % ... ... 63.3 39.0 5.59 18.9 3.83    
Operating Profit Growth % ... ... 66.2 96.6 0.133 0.556 -12.5    
Pre-Tax Profit Growth % ... ... 149 111 0.488 -64.5 -52.0    
Net Profit Growth % ... ... 123 106 4.39 -62.3 -64.9    
balance sheet Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018
balance sheet                  
Cash KZT bil ...   87.5 115 141 293 165    
Interbank Loans KZT bil ...   1.59 8.86 0.655 0.749 1.55    
Customer Loans KZT bil ...   435 642 780 783 715    
Retail Loans KZT bil ...   351 610 753 711 645    
Mortgage Loans KZT bil ...   0 0 0 0 0    
Consumer Loans KZT bil ...   351 610 753 711 645    
Corporate Loans KZT bil ...   160 131 122 137 153    
Debt Securities KZT bil ...   36.6 75.7 70.9 169 292    
Fixed Assets KZT bil ...   19.3 23.7 30.9 30.8 33.0    
Total Assets KZT bil ...   583 872 1,034 1,286 1,219    
Shareholders' Equity KZT bil ...   68.1 93.0 133 134 137    
Of Which Minority Interest KZT bil ...   0 0 0 0 0    
Liabilities KZT bil ...   515 779 901 1,152 1,083    
Interbank Borrowing KZT bil ...   39.0 55.1 52.0 47.6 40.3    
Customer Deposits KZT bil ...   417 583 714 818 815    
Retail Deposits KZT bil ...   322 404 ... ... ... ... ...
Corporate Deposits KZT bil ...   95.4 179 ... ... ... ... ...
Sight Deposits KZT bil ...   64.4 149 ... ... ... ... ...
Term Deposits KZT bil ...   353 433 ... ... ... ... ...
Issued Debt Securities KZT bil ...   33.0 88.4 97.4 260 205    
Other Liabilities KZT bil ...   25.2 52.2 37.0 26.5 22.4    
asset quality                  
Non-Performing Loans KZT bil ...   93.4 161 180 214 180    
Gross Loans KZT bil ...   511 742 875 848 799    
Total Provisions KZT bil ...   76.4 99.9 95.6 65.0 83.5    
growth rates                  
Customer Loan Growth % ... ... 34.1 47.6 21.4 0.440 -8.68    
Retail Loan Growth % ... ... 59.2 73.8 23.4 -5.61 -9.26    
Consumer Loan Growth % ... ... 59.2 73.8 23.4 -5.61 -9.26    
Corporate Loan Growth % ... ... -2.31 -17.9 -7.19 12.3 12.0    
Total Asset Growth % ... ... 35.3 49.6 18.6 24.4 -5.22    
Shareholders' Equity Growth % ... ... 35.6 36.6 43.4 0.775 1.57    
Customer Deposit Growth % ... ... 29.5 39.7 22.5 14.6 -0.422    
Retail Deposit Growth % ... ... 43.1 25.4 ... ... ... ... ...
Corporate Deposit Growth % ... ... -1.90 87.9 ... ... ... ... ...
ratios Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018
ratios                  
ROE % ...   32.2 48.8 36.2 11.5 4.00    
ROA % ...   3.76 5.40 4.30 1.33 0.433    
Costs (As % Of Assets) % ...   5.23 5.06 4.08 3.98 3.83    
Costs (As % Of Income) % ...   35.2 27.7 28.8 32.3 36.2    
Capital Adequacy Ratio % ...   19.0 17.3 18.8 21.5 24.1    
Tier 1 Ratio % ...   14.2 13.1 15.5 14.5 16.3    
Net Interest Margin % ...   7.16 9.39 6.63 5.28 3.42    
Interest Spread % ... ... 6.25 8.60 5.76 4.52 2.58    
Asset Yield % ...   14.0 15.7 13.1 11.1 10.3    
Cost Of Liabilities % ... ... 7.76 7.09 7.35 6.61 7.72    
Payout Ratio % ...   77.3 0.047 31.9 0 638   ...
Interest Income (As % Of Revenues) % ...   48.1 51.4 46.8 42.9 32.3    
Fee Income (As % Of Revenues) % ...   51.3 50.3 57.3 63.9 71.1    
Other Income (As % Of Revenues) % ...   0.558 -1.72 -4.13 -6.79 -3.37    
Staff Cost (As % Of Total Cost) % ...   51.6 52.4 48.6 52.0 44.7    
Equity (As % Of Assets) % ...   11.7 10.7 12.9 10.5 11.2    
Loans (As % Of Deposits) % ...   104 110 109 95.7 87.8    
Loans (As % Assets) % ...   74.6 73.7 75.4 60.9 58.7    
NPLs (As % Of Loans) % ...   18.3 21.7 20.6 25.3 22.5    
Provisions (As % Of NPLs) % ...   81.8 62.1 53.1 30.3 46.5    
Provisions (As % Of Loans) % ...   17.6 15.6 12.3 8.30 11.7    
Cost of Provisions (As % Of Loans) % ...   6.69 8.66 6.55 10.1 10.2    
other data Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018
other data                  
Sight (As % Of Customer Deposits) % ...   15.4 25.6 ... ... ... ... ...

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Kaspi Bank's customer loan growth fell 24.2% yoy to 19.6% in 1Q2019

By Helgi Analytics - October 24, 2019

Kaspi Bank's customer loan growth reached 19.6% in 2019-03-31, down from 25.9% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 56.8% in 2013-09-30 and an all time low of -12.4% in 2016-09-30. In the last de...

Kaspi Bank's equity (as % of assets) rose 0.701% yoy to 12.3% in 1Q2019

By Helgi Analytics - October 24, 2019

Kaspi Bank's Equity reached 22.2% of total assets in the 1Q2019, up from 19.0% for the previous year. As a share of net customer loans, the ratio amounted to 29.0% at the end of the first quarter of 2019. ...

Kaspi Bank's corporate loans rose 158% to KZT 204 bil in 2018

By Helgi Analytics - September 25, 2019

Kaspi Bank's loans reached KZT 1,188 bil in the 2018, up from KZT 981 bil compared to the previous year. Historically, the bank’s loans reached an all time high of KZT 1,188 bil in 2018 and an all time low of KZT 511 bil in 2012. In the last decade, the...

Kaspi Bank's capital adequacy ratio rose 10.0% to 23.0% in 2018

By Helgi Analytics - September 25, 2019

Kaspi Bank's capital adequacy ratio reached 23.0% at the end of 2018, up from 20.9% compared to the previous year. Historically, the bank’s capital ratio hit an all time high of 24.1% in 2016 and an all time low of 17.3% in 2013. The Tier 1 ratio amounted to ...

Kaspi Bank's npls (as % of loans) rose 51.9% to 17.6% in 2018

By Helgi Analytics - September 25, 2019

Kaspi Bank's non-performing loans reached 17.6% of total loans at the end of 2018, up from 11.6% compared to the previous year. Historically, the NPL ratio hit an all time high of 25.3% in 2015 and an all time low of 11.6% in 2017. Provision coverage amount...

Kaspi Bank's net interest income rose 50.6% to KZT 91.6 bil in 2018

By Helgi Analytics - September 25, 2019

Kaspi Bank generated total banking revenues of KZT 237 bil in 2018, up 41.5% 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 237 bil in 2018 and an all ti...

Kaspi Bank's net interest margin rose 27.8% to 5.78% in 2018

By Helgi Analytics - September 25, 2019

Kaspi Bank's net interest margin amounted to 5.78% in 2018, up from 4.52% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 9.39% in 2013 and an all time low of 3.42% in 2016. The average margin in t...

Kaspi Bank's customer loan growth fell 20.0% to 19.7% in 2018

By Helgi Analytics - September 25, 2019

Kaspi Bank's customer loan growth reached 19.7% in 2018, down from 24.7% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 47.6% in 2013 and an all time low of -8.68% in 2016. In the last decade, the average ...

Kaspi Bank's capital adequacy ratio rose 8.71% yoy to 26.2% in 4Q2017

By Helgi Analytics - October 24, 2019

Kaspi Bank's capital adequacy ratio reached 26.2% at the end of fourth quarter of 2017, up from when compared to the previous quarter. Historically, the bank’s capital ratio hit an all time high of 27.2% in 2Q2017 and an all time low of 16.8% in 2Q2013. The ...

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Finance

Kaspi Bank has been growing its revenues and asset by 12.3% and 14.3% a year on average in the last 5 years. Its loans and deposits have grown by 10.7% and 16.2% a year during that time and loans to deposits ratio reached 86.2% at the end of 2018. The company achieved an average return on equity of 29.9% in the last five years with net profit growing 20.4% a year on average. In terms of operating efficiency, its cost to income ratio reached 26.9% in 2018, compared to 31.7% average in the last five years.

Equity represented 12.4% of total assets or 19.7% of loans at the end of 2018. Kaspi Bank's non-performing loans were 17.6% of total loans while provisions covered some 57.8% of NPLs at the end of 2018.

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