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Banking Essentials Newsletter: 17th April Edition

JSC Bayan Sulu Q1 profit climbs YOY

JSC Bayan Sulu said its normalized net income for the first quarter was 3.62 tenge per share, a gain from 54 tyiyn per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 161.6 million tenge, an increase from 24.1 million tenge in the prior-year period.

The normalized profit margin rose to 2.7% from 0.7% in the year-earlier period.

Total revenue increased 84.5% year over year to 5.96 billion tenge from 3.23 billion tenge, and total operating expenses climbed 78.3% year over year to 5.59 billion tenge from 3.13 billion tenge.

Reported net income grew from the prior-year period to 208.6 million tenge, or 4.67 tenge per share, from 26.0 million tenge, or 58 tyiyn per share.

As of April 29, US$1 was equivalent to 327.33 tenge.