/IRBIS, Assel Omarova, September 17, 04/ - Kazakhstan agency for regulation and supervision of financial market and financial organizations (AFN) issued press-release dedicated to situation on financial market of Kazakhstan. Following is description of the companies rendering certain types of banking services as of September 1, 2004 (all figures are given on the mentioned date unless otherwise indicated).

As of September 1 of 2004 there were 72 pawnshops, 82 credit partnerships, 2 mortgage companies, and 41 organizations rendering certain types of banking services with valid licenses.

As of August 1, 2004 total of aggregate assets of credit partnerships was KZT 8.3 bn. (growth by 3.3% within July), liabilities - KZT 4.5 bn. (growth of 4.1%), shareholders equity according to balance - KZT 3.8 bn. (growth by 2.4%). Stake of standard credits in the structure of portfolio of credit institutions was 82.5% (as of July 1 - 82.8%), doubtful - 15.0% (14.5%), bad - 2.5% (2.7%).

Total assets of mortgage companies as of August 1 was KZT 27.1 bn. (grew by 12.1% within June), liabilities - KZT 22.5 bn. (growth by 8.0%), shareholders equity - KZT 4.6 bn. (37.5%). Stake of standard credits in the structure of credit portfolio of mortgage companies was 99.0% (as of July 1 - 99.0%), doubtful - 0.7% (0.9%) and bad credits - 0.3% (0.1%).

AFN also approved following decisions:

• to cancel license provided according to banking regulation to SKT Autas- Credit LLP on the ground of voluntary cancellation of its activity (liquidation);
• to recall license provided according to banking regulation to "Gold Cash" lending deposit partnership on the ground of violations of the law "On credit partnerships";
• to recall license provided according to banking regulation to "Tirek Capital" on the basis of sub-paragraph k-1), paragraph - 1, Article 48 of the law "On banks and banking activity in the Republic of Kazakhstan" (absence of activity during 12 calendar month from the date of license issue);
• to recall license provided according to banking regulation to Express Garant " on the basis of systematic violations of current regulation, rendering of services beyond the authorized competence.

As of September 1 of 2004 one credit institution was in the process of voluntary liquidation.

[2004-09-17]