OREANDA-NEWS. February 24, 2010. Tsesnabank (Astana), listing on Kazakhstan Stock Exchange (KASE), provided KASE with a press release, reported the press-centre of KASE:

In 2009 Tsesnabank showed dynamic development strengthening its standings on the Kazakhstan banking market.

The Bank enlarged its product range with a number of new deposits, credit programs, and money transfer schemes. Improving customer service, Tsesnabank established a Quality control service and introduced corporate service standards. In October the Bank received a license to carry out transactions in precious metals.

The bank card department completed a VSDC ATM-acquiring certification in international payment system VISA International for receipt of VISA chip payment cards in its ATM network. The bank completed certification regarding issue of chip cards, including those with new credit BINs.

Essentially the bank launched its processing center reducing cost of card transactions and enlarging a range of services.

The bank was working to improve its risk management system. The methodology developed in joint cooperation with PricewaterhouseCoopers experts allowed for more accurately diagnosing credit risks, cutting down operational costs, which will help cut down costs of products.

The Bank is developing its branch network and opened new branch 'Semey', and four additional facilities in regions. The bank constructed new buildings in Petropavlovsk and Kokshetau. In these regions the bank entered into cooperation memorandums with Akimats, which later may materialize into joint long-term financing projects, and innovation projects, providing for competitiveness of local products.

The bank engaged in a number of state programs to support of Kazakhstan economy. The bank proved to be a reliable partner cooperating with National wellbeing fund Samruk-Kazyna and Business development fund DAMU.

Y2009 non-audited consolidated financial statement highlights

Consolidated assets as on December 31, 2009 reached KZT175.4 bn, a 30 % increase since the year beginning. Own capital reached KZT15.7 bn.

Thanks to loans granted to corporate clients the bank loan portfolio increased 21.24 % on a year-to-year basis and reached KZT104,833 m with no change in quality. NPL's stake is just 4 %.

Liabilities reached KZT159.7 bn having increased during the year mainly thanks to KZT5,168 m raised from Business development fund DAMU and KZT4,198 m from National wellbeing fund Samruk-Kazyna. The funds were disbursed ahead of schedule.

Deposits, securities issued for circulation and client current accounts are a stable source of funding (95 % liabilities) KZT119.1 bn worth. The value of individual deposits reached KZT33.5 bn, which is 33.4 % more as compared against the year beginning.

Corporate deposits constitute for 59 %, and individual deposits for 41 %.

Net income reached KZT1.7 bn. The bank is the fourth Kazakh STB in terms of net income.

The positive dynamics is evidence of reliability and trust to the bank.