Eurasian Bank Directs Profit Received to Active Operation Growth and Technology Development
23 June 2022, Almaty
The Eurasian Bank sole shareholder decided not to pay dividends for 2021, but to direct net profit in the amount of KZT 12,732,416,000 to increase the reserve capital of the Bank.
Member of the Eurasian Bank Board of Directors Shukhrat Ibragimov commented that such a decision to refuse dividends has been traditionally made by the Bank shareholder for many years.
“All the profits traditionally remain and will remain at the disposal of the Bank for its capitalization in order to further increase the financing of the Kazakhstan economy and investments in the development of banking technologies and customer services,” Mr. Ibragimov said.
The shareholder also approved the consolidated and unconsolidated financial statements for 2021, prepared according to international standards, confirmed by the KPMG Audit JSC audit company.
Eurasian Financial Company JSC is the sole shareholder of the Bank, owning 100% of the voting shares of Eurasian Bank JSC.
Eurasian Bank JSC is a socially important commercial bank of Kazakhstan with a 28-year history of development. It is one of the eight largest banks in the country with assets of 1.414 trillion tenge, occupies a leading position in the retail banking market, provides a wide range of services to corporate clients and SMEs. The Bank’s rating on the Moody’s scale — B2 — was confirmed on 12 April 2022 with a “stable” outlook. The Bank belongs to the ecosystem of the ERG Group (one of the largest companies in the world in the field of mining and processing of mineral resources).
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