Russia’s Sberbank subsidiary enteres top ten in Kazakhstan

Kazakhstan-based subsidiary of Russia’s Sberbank has entered the top ten banks in Kazakhstan in terms of assets, Tengrinews.kz reports, citing Oleg Smirnov, Chairman of the Board. “The year 2010 was quite successful. We entered the top ten banks in Kazakhstan. As of today the bank is ranked 9th in terms of assets”, Mr. Smirnov said at a press-conference today. According to the Bank’s reports, the share of the bank in the consolidated assets of the Kazakhstan’s banking system stands at 2.3%, wheares in 2009 the figure stood at 1.9%. Sberbank was ranked 2nd in tems of lending growth dynamics in 2010. According to Mr. Smirnov, the bank’s assets in Kazakhstan are set to grow by 40% in 2011. As of the end of the Q1 2011, the bank’s assets grew by 20.3%, reaching $ 2.3 billion. Individuals’ deposits for the period grew 40.8%, reaching $ 1.5 billion. As of April 1, net profit made up $ 7.5 million. Sberbank today is the largest credit institution in Russia and CIS.