Results of activity of Nurbank OJSC (Kazakhstan) for 2002

/KASE, April 9, 03/ - Nurbank OJSC (Almaty), whose bonds are circulating in Kazakhstan stock exchange's official "A" listing category, provided KASE with the financial statement for 2002: balance sheet, income statement and cash flow statement. The following indicators are results of the bank's financial and economic activity for 2002, based upon the bank's information (in th. KZT, unless otherwise specified): --------------------------------------------------------------- As of As of Indicator Jan 1, 01 Jan 1, 02 Change,% -------------------------------- ---------- ---------- -------- Issued authorized capital (paid) 2,700,000 3,000,000 +11.1 Shareholders' equity 4,713,063 5,706,126 +21.1 Total assets 25,198,934 35,804,226 +42.1 Liquid assets 12,388,555 16,015,454 +29.3 Credits granted (net) 10,843,241 17,971,106 +65.7 Total liabilities 20,485,871 30,098,100 +46.9 Loans and deposits 19,829,579 29,057,794 +46.5 Issued bonds - 1,516,036 - Total revenues 3,576,022 4,857,684 +35.8 General expenses 2,321,823 3,982,530 +71.5 Net income for the period 1,254,199 875,154 -30.2 --------------------------------------------------------------- It's been calculated according to issuer's data: --------------------------------------------------------------- Return on equity (ROE), % 26.61 15.34 -42.4 Return on assets (ROA), % 4.98 2.44 -50.9 --------------------------------------------------------------- Relative to 2001 there is increase of: - shareholders' equity of the bank - by KZT993.1 m as the result of increase of paid part of authorized capital by 300.0 m, savings in funds and reserves - by KZT1.0 bn, whereas there took place decrease of the sum of undistributed income by 315.9 m; - assets - by KZT10.6 bn, including: net-volume of loan portfolio by 7.1 bn and sums on accounts in other banks - by 4.2 bn that was partially covered by decrease of securities in the bank's portfolio by 466.1 m and other assets - by 248.5 m; - liabilities - by KZT9.6 bn that was caused by increase of rests on deposit and other clients' accounts by 5.3 bn, floatation of bonds for 1.5 m, increase of sums of borrowed loans - by 2.5 bn and other liabilities - by 384.0 m; - revenues - by KZT1.3 bn (also on loan operations - by 904.9 m); - expenses - by KZT1.7 m (of them 816.5 m or 3 times - increase of reserves for covering of possible losses). Net income, which Nurbank OJSC received for 2002, decreased in comparison with 2001 by KZT379.0 m. The table below shows dynamics of some indicators of Nurbank OJSC for 2002 by quarters by non-growing total (in m KZT): ---------------------------------------------------------------------------- Change, Change, Change, Indicator I-2002 II-2002 % III-2002 % IV-2002 % ------------------ -------- ------- ------- -------- ------- ------- ------- Change of deposits -1,991.5 685.4 +134.4 1,941.4 +183.3 4,619.1 +137.9 Total revenues 1,190.4 1,131.1 -5.0 1,167.2 +3.2 1,368.9 +17.3 Net income 348.3 310.3 -10.9 132.4 -57.3 84.1 -36.5 ---------------------------------------------------------------------------- [2003-04-09]