Results of OJSC "Bank CenterCredit" (Kazakhstan) in 1999

/KASE, March 2, 00, Galina Chudinova, Galina Tsalyuk/ - According to listing requirements OJSC "Bank CenterCredit" (Almaty, official list of securities, category "A") provided Kazakhstan Stock Exchange (KASE) with its 1999 financial statements: balance sheet, income statement and cash flow statement. Following are the results of the emitter in 1999 (in th. KZT): As of As of Indicator January 1 '99 January 1 '00 Change -------------------------------- ------------- ------------- ------ Authorized (announced) 1,063,339 1,063,339 0 Authorized (paid) 1,003,313 1,062,531 +5.9 Shareholders equity 1,232,984 1,447,052 +17.4 Total assets 10,250,426 13,829,727 +34.9 Liquid assets 1,394,021 4,018,139 +188.2 Loans and deposits 8,509,937 11,839,424 +39.1 Credits granted 6,157,797 8,326,133 +35.2 Income from operating activities 1,823,685 3,337,990 +83.0 Total expenses 1,702,528 3,078,139 +80.8 Net income of the period 121,157 259,851 +114.5 -------------------------------- ------------- ------------- ------ Growth in shareholders' equity by KZT214.07 mln or 17.4% relative to 1998 was caused by increases in: - undistributed income - by 130.45 mln; - paid portion of authorized capital - by 59.22 mln; - accumulations in the funds - by 24.40 mln; As a result book value of a share increased by KZT132.98 or 10.8% against 1998, at KZT1,361.89 per share. The bank's assets has increased by KZT3,579.30 mln or 34.9%, including increases in: - liquid assets - by 2,624.12 mln (cash currency - 453.63 mln, amounts in correspondent accounts - 912.22 mln, securities in the bank's portfolio - 1,258.27 mln); - loan portfolio - by 2,168.34 mln; - investments - by 26.30 mln; with decreases in: - residual value of fixed and intangible assets - by 61.92 mln; - other assets - by 1,177.54 mln; Bank liabilities has increased by KZT3,365.23 mln or 37.3% relative to 1998 due to increases in: - in volume of funds raised - by 3,329.49 mln (deposits - 3,170.44 mln, from banks - 607.43 mln, which was partially compensated by repayment of 448.38 mln international loan); - other liabilities - by 2,824.05 mln. KZT1,514.30 mln or 83.0% growth in operating income of the bank against 1998 was caused by increases in: - interest income - by 420.55 mln or 47.7%; - non-interest income - by 1,093.75 mln or 116.2%. Expenses of the bank have increased by KZT1,375.61 mln or 80.8%, including: - interest expenses - by 272.24 mln or 69.6%; - non-interest expenses - by 520.47 mln or 50.3%; - payments to the reserves created to cover losses on classified assets and conditional liabilities - by 471.17 mln or 223.9%; - tax payments - by 111.73 mln or 168.0%. As a result of fast growing incomes of the bank over its expenses net income of 1999 grew KZT138.69 mln or 114.5% relative to 1998, at KZT259.85 mln. Following is the dynamics of some of the bank indicators in 1999 shown on a quarterly basis with non-accruing basis (in th. KZT); Change, Change, Change, Indicator I-99 II-99 % III-99 % IV-99 % ---------------- ------- ------- ------- --------- ------- --------- -------- Client deposits -78,066 646,705 +928.4 101,379 -84.3 2,500,420 +2 366.4 Operating income 607,999 208,053 -65.8 2,045,968 +883.4 475,970 -76.7 Net income 16,150 64,931 +302.0 14,494 -77.7 164,276 +1 033.4 ---------------- ------- ------- ------- --------- ------- --------- --------