Analysis of the profit and loss report

on IFRS (See the appendix 3)

The net profit for 2014 made 21,6 billion tenge. Interest income in a year increased by 43,3% and made 78,5 billion tenge against 54,8 billion tenge for 2013. The increase in interest income occurred generally due to growth of the income on a credit portfolio, the gain in comparison with the similar period of last year made 43,9%. Percentage expenses for 2014 increased by 47,4% or for 10,3 billion tenge in comparison with 2013 and made for reporting date 32,1 billion tenge. The share of expenses on the raised funds of clients made 79%, having reduced by 0,6% in relation to last year. The share of expenses on means of banks made 14% (14,5% for 2013); on the issued bonds expenses grew by 995 million tenge, their share made 7% (5,9% for 2013).

The net commission income of Bank grew by 44,2% or for 3,6 billion tenge and made 11,7 billion tenge for January 1, 2015. The main sum of the commission income is the share of settlement operations of clients and cash operations.

In 2014 there was an increase in the income by all types of commission operations. Considerably the gained income by documentary calculations increased by 1,9 billion tenge in comparison with last year.

Not interest income of Bank grew by 36,6% or for 1,5 billion tenge. The income on operations with foreign currency for 2014 increased by 27% or 1,081 billion tenge and made 5,1 billion tenge.

Operating expenses of Bank for the reporting period grew by 40,4% or for 7,5 billion tenge and made 25,9 billion tenge for January 1, 2015. Growth happened at the expense of increase in expenses on the personnel of 14,8 billion tenge (a gain of 41,9% in comparison with last year) and administrative expenses of 7,3 billion tenge (a gain of 28,8% in comparison with last year) that is caused by increase in number of the personnel.

The relation of operating expenses to the operating income to reserves made for reporting date 40,7% against 40,8% in 2013.