The reduction in Alatau City Bank's net profit for January-June 2026 was an expected consequence of the decision to partially repay state aid ahead of schedule, the bank's press service told Kursiv. This was reported by Qazaqyia.kz citing Kursiv Media.
Earlier it was reported that net profit for the first half of the year fell to 4.5 billion tenge from 43.3 billion tenge for the first five months of the current year.
Bank's comment
"The observed decline in net profit for January-June of this year is purely technical and directly related to the effect of the buyback of previously issued bonds as part of the early repayment of part of state support," the press service commented on the reporting published by the National Bank of Kazakhstan.
In early July, Alatau City Bank reported that the Board of Directors on June 29 decided to partially repay state aid in the amount of 125.3 billion tenge ahead of schedule by early buying back bonds placed under state support programs for the banking sector.
Impact on financial results
The press service also explained that the effect on the financial result occurred in June, as the decision to partially repay state aid early was made by the bank's board of directors at the end of that month.
"At the same time, the bank fully complies with all regulatory requirements and has a significant margin of safety for the timely fulfillment of all its obligations to clients and partners. The priorities of Alatau City Bank remain qualitative business growth and further improvement of the quality of customer service," the bank noted.
Additional information
The bank submitted its financial statements to the National Bank. The decision was made under banking sector support programs. The bank continues its operations and fulfills all obligations.