/KASE, June 26, 08/ - Alliance Bank JSC (Almaty), a listing company of
Kazakhstan Stock Exchange (KASE), provided KASE with the press release of
June 25:
Quotation start
Almaty, June 25, 2008 - Alliance Bank (LSE: ALLB) disclosed its 1Q 2008
performance highlights based on IFRS audited consolidated financials. One of the
main achievements of the Bank for the reported period was growth of its net
interest income before reserves by 22 % against the same period of 2007. As of
1Q 2008 it amounted to KZT20,579 million (USD170.9 million).
Strategy of the Bank targeted at business efficiency increase, allowed to see
increase of interest as well as commission income. As of 1Q 2008, net
commission income of the Bank totaled KZT176 million against losses of KZT
154 million for the same period of 2007. Main portion of commission income of
the Bank are income cash settlement operations, which grew 2.5 times and
comprised KZT2,205 million (USD18.3 million) as well as documentary operations
income, increased 2.5 times and totaling KZT793 million (USD6.6 million) against
the same period of 2007.
Maintaining high profitability of operational activity, the Bank pays close
attention to adequate liquidity levels, retaining liquid assets at the level of
20-23 % of total assets. Within 1Q 2008 level of liquid assets increased by 4 %
as opposed to the indicator of 2007 and totaled KZT251 million (USD2.1 million).
At the same time the Bank's liquidity ratio since beginning of 2008 grew by
1.3 % reaching 22.1 %.
Liquidity k4 and k5 ratios under prudential norms of NBK comprised 443.7 % and
181.6 % accordingly while minimum requirements are 30 % and 50 %
respectively.
"In the first quarter of 2008, we primarily focused on maintenance of the Bank's
adequate liquidity level and scheduled repayment of our liabilities to foreign
investors. The Bank's foreign indebtedness in 2008 is USD1.22 bn., while 70 % of
this amount falls due and will be repaid before July 1, 2008. In the current
environment of insufficient liquidity, the Bank has the PIL scheduled repayments
as the main source of funding. As of April 1 the assets with less than one year
maturity made up KZT531 bn., which significantly exceeds liabilities with less
than one year maturity totaling KZT375 bn. As a result, we are successfully
managing all our short-term liabilities repayment, despite challenges connected
with fundraising from international markets," said Erik Sultankulov, CEO of
Alliance Bank.
As was previously announced, as a result of environment change in international
capital markets in 2007, the Bank has corrected its development strategy in
order to settle new objectives. The Bank's new strategic targets encompass
maintenance of stable growth and strengthening its position in the market as
well as improvement of the service quality and operational efficiency. Maximum
use of the stored knowledge, know how and technologies are aimed to attract more
customers to the Bank. Alliance Bank will continue to be the leader and an
innovator in retail banking. Customer service efficiency coupled with increased
service quality are among the Bank's main priorities.
For further information, please, contact:
Public Relations Service:
Tel. +7 (727) 259 80 76
E-mail: pr@alb.kz
Web-site: www.alb.kz
Investor Relations
Tel.:+7 (727) 258 40 40 ext. 52030
E-mail: InvestorRelations@alb.kz
Quotation end
The full version of the press release of Alliance Bank JSC is available at the
KASE website at:
-
http://www.kase.kz/emitters/scan/asbn/asbn_reliz_250608.pdf - in Russian;
-
http://www.kase.kz/emitters/scan/asbn/asbn_reliz_250608e.pdf - in English.
[2008-06-26]