Article 11. Income Of The National Bank Of Kazakhstan Of The Law On The National Bank Of The Republic Of Kazakhstan

      The net income of the National Bank of Kazakhstan for the financial year is defined as the difference between the actual income received and expenses related to this financial year.  

     The undistributed net income of the National Bank of Kazakhstan is the net income of the National Bank of Kazakhstan, with the exception of the amount of exchange rate revaluation attributed to the accounts of revaluation of gold and foreign exchange reserves and other assets in foreign currency, adjusted for the amount of revaluation of fixed assets and intangible assets. The undistributed net income is used to increase the authorized and (or) reserve capital in the amount established by the Board of the National Bank of Kazakhstan.

     After approval by the President of the Republic of Kazakhstan of the annual report of the National Bank of Kazakhstan, the remaining part of the undistributed net income is transferred to the state budget with a deferral for one fiscal year.  

     If the amount of the reserve capital is less than the amount of the authorized capital, then all undistributed net income remains at the disposal of the National Bank of Kazakhstan and is used to replenish the reserve capital until it reaches the amount of the authorized capital. If the reserve capital is insufficient to compensate for the losses of the financial year, the uncovered losses are fully compensated to the National Bank of Kazakhstan from the state budget with a delay of one financial year.

The Law of the Republic of Kazakhstan dated March 30, 1995 No. 2155.

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