ALMATY, March 12 (Reuters) - Kazakhstan’s largest lender by assets, Halyk Bank , posted a 7.9% year-on-year drop in fourth-quarter net income on Thursday to 83.1 billion tenge ($207.6 million).
The bank reported significant increases in credit loss expenses and operating expenses for the quarter.
Halyk’s full-year net income rose 31.6% to 334.5 billion tenge, which it said was mainly thanks to net interest income growth.
The bank last month asked the holders of its 2021 and 2022 Eurobonds to waive covenants restricting it from paying out more than 50% of its net profit in dividends.
$1 = 400.2700 tenge Reporting by Olzhas Auyezov; Editing by Jan Harvey and Mark Potter