Bank of Astana for IPO
Securities of Astana Bank JSC will be placed on the Kazakhstani Stock Exchange (IPO) from 9th of June to 21st, JSC "Freedom Finance" (broker) conducts road shows on the exit of securities of JSC Astana Bank for initial public offering at the Kazakhstani Stock exchange (IPO). Recall that soon the IPO of the "Bank of Astana" - one of the fastest growing banks in Kazakhstan - will be held, with an average annual growth of interest income of 35% over the past five years. For reference: the Bank of Astana has been growing by an average of 35% per year for the past five years and is implementing a new format for a mobile bank with a great potential for growth. Now the bank generates 7.1 billion tenge of interest income. The business model is aimed at moving from an offline network of branches to online / mobile services and promotion of cards through direct delivery throughout Kazakhstan. This reduces the cost of maintaining the network, and commission income covers current costs. The new strategy allowed to increase assets 4.5 times - from 80 billion tenge in 2013 to 364 billion tenge in 2016. The main driver is the implementation of the growth strategy until 2020, the basis of which is expansion in perspective niches and, as a result, growth in profitability and valuation. Growth with well-defined niches allows the bank to have the potential for growth in profitability. For two years of intensive work, the bank entered the top five banks in terms of the number of users of online banking. In the sphere of lending, the bank is aimed at the segment of individual entrepreneurs, who now mainly work with microcredit organizations. Here the bank plans to reach a share of 8% and increase the loan portfolio to 25 billion tenge.
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