Results of activity of BTA Ipoteka JSC (Kazakhstan) for the first 6 months of 2004

/IRBIS, Galina Tsalyuk, September 8, 04/ - BTA Ipoteka JSC (Almaty), whose securities are circulating in the official "B" listing category of Kazakhstan stock exchange Inc. (KASE), provided KASE with the financial statement for the first 6 months of 2004. Following indicators are result of the bank's financial and economic activity for the reported period, based upon the bank's information (th. KZT, unless otherwise specified): ---------------------------------------------------------------- As of As of Indicator Jul 1, 03 Jul 1, 04 Change,% ----------------------------------- --------- --------- -------- Authorized capital (paid-up) 40,000 45,950 +14.9 Shareholders' equity 218,688 420,620 +92.3 Total assets 3,177,262 6,839,382 +115.3 Loans and financial rent (net) 2,935,815 6,536,795 +122.7 Total liabilities 2,958,574 6,418,762 +117.0 Borrowed loans (excluding bonds) 2,921,529 5,838,042 +99.8 Floated bonds - 500,000 - Net interest income before reserves 97,980 316,496 +223.0 Net non-interest income 109,064 131,503 +20.6 General administrative expenses 34,052 80,809 +137.3 Deductions to reserves 7,205 161,160 +2,136.8 Net income for the period 130,022 138,712 +6.7 ---------------------------------------------------------------- Relative to similar period of 2003 there is in increase of: - shareholders' equity - by 201.9 m as the result of increase of reserve capital - 187.3 m retained earnings - 8.7 m; and paid-up part of authorized capital - 5.9 m; - assets - by 3.7 bn., including: net volume of loans granted (and financial rent) - 3.6 bn; funds in banks - by 79.3 m, depreciated cost of fixed assets - 24.7 m; and other assets - by 25.3 m; - liabilities - by 3.5 bn, of them: bonds floated - 500.0 m; attracted loans - by 2.9 bn; and other liabilities - 43.7 m; - net interest incomes - by KZT 218.5 m; - net non-interest incomes - by KZT 22.4 m; - general administrative expenses - by KZT 46.7 m; - deductions to reserves - by KZT 153.9 m. Net income, the Company received for the period, exceeded net income of similar period of 2003 by KZT 8.7 m. Primary activities - retail mortgage financing, construction and consulting. [2004-09-08]