Kazakh Temirbank triples net profit in 2007

ALMATY, April 1 (Reuters) - Temirbank TEBN.KZ, Kazakhstan's No. 7 bank, said on Tuesday its net profit nearly tripled in 2007 to 7.4 billion tenge ($61 million) but projected slower growth this year.

It also said a decision on whether or not the bank would seek a strategic investor would be taken in 2008.

"We expect a net profit of 11.8 billion tenge ($98 million)," Temirbank Chief Executive Ablakhat Kebirov told reporters, referring to the 2008 outlook.

He said the bank's assets would increase to 433 billion tenge in 2008 from 330 billion last year, compared with 200 billion in 2006.

Kazakhstan's second-largest bank, BTA BTAS.KZ, has a controlling stake in retail-focused Temirbank. BTA has hired Deutsche Bank to advise it on future strategies for Temirbank and has said selling to a strategic investor is one option.

"The decision is most likely to be made this year: to sell or not to sell," Kebirov said. (Writing by Olzhas Auyezov; Editing by David Cowell)