OJSC "Demir Kazakhstan Bank" has announced its results in 1999

/IRBIS, March 10, 00/ - OJSC "Demir Kazakhstan Bank" (Almaty) has released the information on its results in 1999. Based on financial statements for 1999, net profit of the bank equaled KZT201,948 th., or USD1,5 mln. At the end of the year shareholders' equity of the bank reached KZT1,589,251 th. (USD11,300.0 th.), it grew by KZT1 bln last year. It is said as of late February of current year shareholders' equity surpassed KZT2 bln or USD14 mln. In 1999 the bank's liabilities amounted to USD40 mln, which is USD30 mln more than a year ago. While total assets of the bank reached USD50 mln. The bank paid KZT117 mln in taxes in 1999. The main shareholder of the bank is DEMiRBANK T.A.S. (Istanbul). As of January 1, 2000 the bank was serving a total of 918 clients, including corporate local, international and Turkish companies. In November, 1999 the National Bank of Kazakhstan has reclassified OJSC "Demir Kazakhstan Bank" to the first level of banks in achieving International standards. Lately, OJSC "Demir Kazakhstan Bank" became one of 16 members of the Fund for mandatory insurance of the deposits of private persons. The bank is a member of Kazakhstan stock exchange (KASE) in categories that allow to participate in trades in foreign currencies, state securities (SS) and private issue securities (PIS) that were entered into KASE official list of securities. OJSC "Demir Kazakhstan Bank" is a Primary dealer of the Ministry of finance and Primary agent of the National Bank of Kazakhstan on the market for SS. Presently, the bank has 102 employees, including the employees at Almaty branch in "Ramstore" trading center. The bank plans to open its branch in Atyrau in April of current year.