as at 31 December 2019
| thousands of tenge | Notes | 31 December 2019 |
31 December 2018* |
|---|---|---|---|
| Assets | |||
| Cash and cash equivalents | 5 | 20,580,665 | 44,798,305 |
| Amounts due from credit institutions | 6 | 8,451,527 | − |
| Investment securities | 7 | 11,179,190 | − |
| Loans to customers | 8 | 36,929,798 | 43,004,358 |
| Finance lease receivables | 9 | 226,615,145 | 186,617,217 |
| Assets held for sale | 10 | 511,083 | − |
| Property held for finance lease | 11 | 7,704,941 | 10,740,178 |
| Current corporate income tax assets | 20 | 134,137 | 175,427 |
| Property and equipment | 12 | 463,556 | 995,816 |
| Intangible assets | 13 | 581,104 | 554,969 |
| VAT and other taxes recoverable | 14 | 6,137,493 | 3,891,038 |
| Advances paid | 15 | 5,597,916 | 7,190,060 |
| Other assets | 23 | 849,024 | 966,510 |
| Total assets | 325,735,579 | 298,933,878 | |
| Liabilities | |||
| Amounts due to the Shareholder | 16 | 54,136,402 | 67,232,037 |
| Amounts due to credit institutions | 17 | 75,934,329 | 41,807,710 |
| Debt securities issued | 18 | 65,384,934 | 64,596,068 |
| Payables to suppliers | 19 | 5,861,586 | 4,802,218 |
| Deferred corporate income tax liabilities | 20 | 754,648 | 1,338,197 |
| Advances received | 21 | 4,795,803 | 4,263,925 |
| Deferred VAT liabilities | 7,642,894 | 5,070,632 | |
| Other liabilities | 23 | 1,965,997 | 3,473,379 |
| Total liabilities | 216,476,593 | 192,584,166 | |
| Equity | |||
| Share capital | 24 | 82,837,204 | 82,837,204 |
| Additional paid-in capital | 24 | 26,156,975 | 25,730,293 |
| Reserve capital | 24 | 1,436,184 | 1,436,184 |
| Provision for notional distribution | 24 | (9,605,611) | (9,605,611) |
| Retained earnings | 8,434,234 | 5,951,642 | |
| Total equity | 109,258,986 | 106,349,712 | |
| Total liabilities and equity | 325,735,579 | 298,933,878 | |
| Book value per common share (in tenge) | 24 | 1,311,95 | 1,277,14 |
for the year ended 31 December 2019
| thousands of tenge | Notes | 2019 | 2018 |
|---|---|---|---|
| Interest revenue calculated using effective interest rate | |||
| Cash and cash equivalents | 1,438,785 | 1,486,056 | |
| Loans to customers | 4,050,708 | 4,491,387 | |
| Investment securities | 483,446 | 173,417 | |
| 5,972,939 | 6,150,860 | ||
| Other interest income | |||
| Finance lease receivables | 26,492,528 | 19,995,116 | |
| 26,492,528 | 19,995,116 | ||
| Total interest income | 32,465,467 | 26,145,976 | |
| Interest expense | |||
| Amounts due to the Shareholder | (4,488,460) | (5,150,325) | |
| Amounts due to credit institutions | (5,332,674) | (3,597,104) | |
| Debt securities issued | (6,865,312) | (4,859,740) | |
| Total interest expense | (16,686,446) | (13,607,169) | |
| Net interest income | 15,779,021 | 12,538,807 | |
| Credit loss expense | 22 | (1,208,591) | (2,818,840) |
| Net interest income after credit loss expense | 14,570,430 | 9,719,967 | |
| Net (losses)/gains from foreign currencies | (390,004) | 469,670 | |
| Other income | 26 | 831,792 | 970,887 |
| Personnel expenses | 27 | (2,785,088) | (2,729,776) |
| Other operating expenses | 27 | (1,068,777) | (913,138) |
| Depreciation and amortisation | 12,13 | (289,283) | (231,506) |
| Net loss from modification of loans to customers and finance lease receivables that does not result in derecognition | 8,9 | (1,472,203) | (664,681) |
| Other impairment and provision expenses | 22 | (660,306) | (189,906) |
| Non-interest expense | (5,833,869) | (3,288,450) | |
| Profit before corporate income tax benefit | 8,736,561 | 6,431,517 | |
| Corporate income tax benefit | 20 | 474,403 | 296,855 |
| Profit for the year | 9,210,964 | 6,728,372 | |
| Basic and diluted earnings per common share (in tenge) | 24 | 111,19 | 81,22 |
for the year ended 31 December 2019
| thousands of tenge | Notes | 2019 | 2018 |
|---|---|---|---|
| Profit for the year | 9,210,964 | 6,728,372 | |
| Other comprehensive income for the year | − | − | |
| Total comprehensive income for the year | 9,210,964 | 6,728,372 |
for the year ended 31 December 2019
| thousands of tenge | Share capital | Additional paid-in capital | Reserve capital | Provision for notional distribution | Retained earnings | Total |
|---|---|---|---|---|---|---|
| At 31 December 2017 | 82,837,204 | 24,912,791 | 1,436,184 | (9,542,733) | 3,141,505 | 102,784,951 |
| Impact of adopting IFRS 9 | − | − | − | − | (346,015) | (346,015) |
| Restated balance in accordance with IFRS 9 | 82,837,204 | 24,912,791 | 1,436,184 | (9,542,733) | 2,795,490 | 102,438,936 |
| Total comprehensive income for the year | − | − | − | − | 6,728,372 | 6,728,372 |
| Gain on initial recognition of loans due to the Shareholder at below market rates (Note 24) | − | 817,502 | − | − | − | 817,502 |
| Dividends declared (Note 24) | − | − | − | − | (3,572,220) | (3,572,220) |
| Provision for notional distribution for the year (Note 24) | − | − | − | (62,878) | − | (62,878) |
| As at 31 December 2018 | 82,837,204 | 25,730,293 | 1,436,184 | (9,605,611) | 5,951,642 | 106,349,712 |
| Total comprehensive income for the year | − | − | − | − | 9,210,964 | 9,210,964 |
| Gain on initial recognition of loans due to the Shareholder at below market rates (Note 24) | − | 426,682 | − | − | − | 426,682 |
| Dividends declared (Note 24) | − | − | − | − | (6,728,372) | (6,728,372) |
| Provision for notional distribution for the year (Note 24) | − | − | − | − | − | − |
| As at 31 December 2019 | 82,837,204 | 26,156,975 | 1,436,184 | (9,605,611) | 8,434,234 | 109,258,986 |
for the year ended 31 December 2019
| thousands of tenge | Notes | 2019 | 2018 |
|---|---|---|---|
| Cash flows from operating activities | |||
| Interest received | 28,579,278 | 22,968,078 | |
| Interest paid | (13,687,902) | (9,941,005) | |
| Realised losses less gains from dealing in foreign currencies | (71,523) | (123,105) | |
| Personnel expenses paid | (2,798,188) | (2,689,031) | |
| Other operating expenses paid | (998,588) | (882,191) | |
| Other income received | 695,311 | 453,882 | |
| Cash flows from operating activities before changes in operating assets and liabilities | 11,718,388 | 9,786,628 | |
| Net (increase)/decrease in operating assets | |||
| Amounts due from credit institutions | (8,397,531) | − | |
| Loans to customers | 4,211,586 | 2,187,468 | |
| Finance lease receivables | (28,733,868) | (7,826,399) | |
| VAT and other taxes recoverable | (2,246,455) | (784,700) | |
| Advances paid | (135,629) | (4,644,534) | |
| Other assets | (279,798) | (126,120) | |
| Net increase/(decrease) in operating liabilities | |||
| Advances received | 778,715 | 792,588 | |
| Other liabilities | (2,111,137) | (905,603) | |
| Net cash used in operating activities before corporate income tax | (25,195,729) | (1,520,672) | |
| Corporate income tax paid | (215,818) | (232,401) | |
| Net cash flows used in operating activities | (25,411,547) | (1,753,073) | |
| Cash flows from investing activities | |||
| Purchase of investment securities | (11,152,666) | − | |
| Purchase of property and equipment and intangible assets | 12,13 | (403,297) | (211,840) |
| Proceeds from sale of property and equipment | − | 795 | |
| Net cash used in investing activities | (11,555,963) | (211,045) | |
| Cash flows from financing activities | |||
| Proceeds from loans due to the Shareholder | 32 | − | 11,232,415 |
| Repayment of loans due to the Shareholder | 32 | (15,531,974) | (22,971,379) |
| Receipt of loans due to credit institutions | 32 | 40,225,000 | 19,000,000 |
| Repayment of loans due to credit institutions | 32 | (6,109,535) | (17,617,865) |
| Proceeds from debt securities issued | 32 | 10,233,955 | 17,250,959 |
| Repayment on debt securities issued | 32 | (9,389,000) | − |
| Dividends paid to the Shareholder | 24 | (6,728,372) | (3,572,220) |
| Net cash from financing activities | 12,700,074 | 3,321,910 | |
| Effect of exchange rates changes on cash and cash equivalents | 49,320 | 2,202,417 | |
| Effect of changes in expected credit losses on cash and cash equivalents | 5 | 476 | (1,071) |
| Net (decrease)/increase in cash and cash equivalents | (24,217,640) | 3,559,138 | |
| Cash and cash equivalents at the beginning of the year | 5 | 44,798,305 | 41,239,167 |
| Cash and cash equivalents at the end of the year | 5 | 20,580,665 | 44,798,305 |
| Non-cash transactions | |||
| Offsetting of current corporate income tax assets against other tax liabilities | 41,290 | − |