Auditor's report on financial statement of Nurbank OJSC (Kazakhstan) for 2002

/KASE, May 8, 03/ - Nurbank OJSC (Atyrau), whose bonds are circulating in Kazakhstan stock exchange's "А" listing category, has presented KASE auditor's report made by KPMG Janat (Almaty), which had been made on the bank's consolidated financial statement for 2002, prepared in compliance with international accounting standards. Result of the bank's consolidated financial and economic activity as of December 31 of 2002 is presented by the following indexes, in accordance with the auditor's data (in th. KZT, unless otherwise specified): ------------------------------------------------------------------------- Indicator 2001 2002 ------------------------------------------------- ---------- ---------- Issued (paid) authorized capital 2,700,000 3,000,000 Shareholders' equity 4,576,249 6,228,169 Total assets 24,818,411 36,339,196 Sum of liquid assets 13,687,820 17,511,431 Loans to clients (net) 10,271,453 17,763,092 Loans for banks (net) 3,312,996 6,550,666 Liabilities, total 20,242,112 30,111,027 Clients' funds 18,262,189 23,558,540 Indebtedness before credit institutions 502,833 4,140,924 Issued bonds - 1,516,349 Total revenues 3,496,580 5,176,843 General expenses 2,292,263 3,700,466 Net profit 1,204,317 1,476,377 ------------------------------------------------- ---------- ---------- It's been calculated according to auditor's data: ------------------------------------------------- ---------- ---------- Return on equity (ROE), % 4.85 4.06 Return on assets (ROA), % 26.32 23.70 ------------------------------------------------------------------------- Audit of the bank's consolidated financial statement was conducted by KPMG Janat in compliance with international auditing standards. The bank's financial statement was correspondingly corrected in order to bring it to conformity with international accounting standards. The bank's consolidated financial statement comprises financial statement of daughter companies, in which the banks owns 100% market share: Grand Lombard LLP (Almaty, giving of loans on security), NURTRUST CJSC (Almaty, pension assets management), NUR-INVEST LLP (Almaty, leasing company), MONEY EXPERTS LLP (Almaty, broker-dealer activity), and also dependent company - IC Mercur Reward OJSC (Almaty, insuring activity), in which the bank owns 20% of total number of issued shares (pro rata to the market share). In the auditor's opinion the consolidated financial statement exactly in all essential aspects reflects the bank's financial condition as of December 31 of 2002, and also results of its activity, cash flow and changes in the capital in the year, which ended by the mentioned date in compliance with international accounting standards. [2002-05-08]