Results of NEFTEHIMBANK (Kazakstan) in the first half of 1999

/KASE, Sep.21, 99, Galina Chudinova, Nadir Zhakupov/ - According to the listing requirements NEFTEHIMBANK (Shimkent, official list of securities, category "B") provided Kazakhstan Stock Exchange (KASE) with financial reports for July 01, 99: balance sheet, income and losses statement. Following are the results of the emitter for the first half of 1999. All figures are given in tenge and as against to the corresponding period of 1998. First half First half Increase / of 1998, 1999, of decrease., Indicator '000 tenge '000 tenge % -------------------------- ---------- ---------- ---------- Authorized paid-up capital 213,000 212,970 -0.01 Shareholders equity 329,313 363,886 +10.5 Total assets 781,327 2,082,690 +166.6 Net working capital 182,594 580,983 +218.2 Accounts receivable 422,854 1,546,858 +265.8 Liabilities 423,029 1,303,775 +208.2 Volume of sales (services offered) 159,928 420,513 +162.9 Cost of goods sold (services offered) 159,796 415,550 +160.1 Net income (loss) 132 4,963 +3,659.8 -------------------------- ---------- ---------- ---------- Increase in the shareholders equity by 34.57 million (10.5%) was stipulated by increase: in revaluation reserves - by 97.86 million; in undistributed profit - by 37.29 million; at decreasing: in revaluation fund- by 100,55 million; in authorized paid-up capital - by 0.03 million (as result of redemption of 15 shares by issuer). As a result the book value per share increased by 324.63 tenge (10.5%) to 3,416.77 tenge per share. The bank's assets has increased by 1,301.36 million (166.6%), including: loan portfolio - by 850.88 million; liquid assets - by 398.39 million or 3.2 times (increasing of corresponding accounts by 490.51 million at reduction of securities in the bank's portfolio by 70.05 million and cash by 22,07 million; other assets - by 54.53 million; at decreasing of fix assets by 2.44 million. Total liabilities has increased by 1,266.79 million or 3.8 times, including: increase in volume of attracted means - by 1,124.00 million; increase in other liabilities - by 142.79 million. Increase of income from operating activity has made 260.59 million (162.9%) which is stipulated by increasing of non-interest income by 322.52 million or 10.1 times, including: revaluation income - by 312,37 million; income from financial operations - by 12.06 million; other income - by 9.01 million; at decreasing of commission earnings by 10.92 million. At the same time the interest income decreased by 61,93 (49.9%) in result of decrease in: proceeds from operation with securities- by 11.97 million; income from interbank credits and deposits - by 0.27 million; other income - by 64,29 million; at increase of proceeds from loans granted - by 14.60 million. Total expenses have increased by 255.75 million (160.1%), which was caused by increase in non-interest expense by 299.91 million, including expenses for staff - by 1.52 million; office and equipment maintenance cost- by 19.30 million; other expenses - by 279.09 million. The same time interest expenses decreased by 44.96 million, including: reduction in the interbank deposits interest payment - by 3,30 million; reduction in other expenses -by 1.97 million; increasing in the bank deposits interest payment - by 1.97 million. Except it, reserves for losses in classified assets and contingent liability decreased by 3.19 million. The same time the tax payment increased by 3.99 million. Net income has made 4.96 or 37.6 times more than in the corresponding period of the previous year.