Bank TuranAlem OJSC (Kazakhstan): financial indices

/IRBIS, Feb 20, 01/ - Following is a brief description of financial and economic indicators of Bank TuranAlem OJSC (Almaty). The description compiled according to the conclusion of Listing Commission of Kazakhstan Stock Exchange (KASE). Information is published in connection with admission of subordinated bonds of the first issue into official list of the KASE securities under category "A". The managing body of Bank TuranAlem OJSC takes all responsibility for information submitted to KASE Listing Commission. FINANCIAL STATEMENT DATA PRESENTED BY THE ISSUER Bank TuranAlem OJSC submitted KASE following statements: balance sheet, income and cash flow statements for 1996-1999 and 9 month 2000. The statements have been compiled according to the Kazakhstan Accounting Standards (KAS), banking legislation, instructions and regulations of the National Bank of Republic of Kazakhstan (NBK). Following is the table created by the KASE specialists based on financial statements (in KZT, thousands unless otherwise specified). It was compiled in compliance with the National Bank requirements. Thus, amount of liquid assets is determined on the basis of the NBK's instructions. ----------------------------------------------------------------------------- As of As of As of As of Index Jan.1 '98 Jan.1 '99 Jan.1 '00 Oct.1 '00 -------------------------------- ----------- ---------- ---------- ---------- Authorized capital 7,720,230 8,870,230 9,696,690 11,245,500 Shareholders' equity 1,343,182 4,362,594 5,676,919 8,453,766 Total assets 12,912,122 19,003,331 46,891,241 75,554,576 Liquid assets 5,389,847 4,197,064 11,544,109 21,797,305 Credits granted (net) 5,933,653 11,405,038 27,921,684 46,190,278 Loans and deposits 10,830,488 13,946,568 35,243,501 59,406,774 Income from operating activities 4,112,575 5,081,951 8,170,250 10,314,073 Net income (6,251,353) 1,867,698 886,295 1,337,131 Return on assets (ROA), % - 9.83 1.89 1.77 Return on equity (ROE), % - 42.81 15.61 15.82 ----------------------------------------------------------------------------- AUDITING REPORT DATA International audit of the financial statements for 1996-98 were made by Arthur Andersen (Almaty, Kazakhstan), for 1999 - Ernst & Young (Almaty, Kazakhstan). The following table created by the KASE specialists was based on auditing reports (in KZT, millions unless otherwise specified). The amount of liquid assets is determined on the basis of the NBK's instructions. ------------------------------------------------------------------------ As of Jan.1'98 As of Jan.1'99 As of Index Jan.1 '00 -------------------------------- -------------- -------------- --------- Authorized capital (paid-up) 6,781 7,931 8,758 Shareholders' equity 1,000 3,676 5,083 Total assets 14,090 18,371 46,027 Liquid assets 4,341 4,629 11,640 Credits to the clients (net) 5,657 10,645 27,094 Credits to the banks 6,745 - - Liabilities to clients 10,550 9,651 28,224 Liabilities to banks 377 3,009 9,023 Income from operating activities 3,600 4,731 8,024 Total expenses 3,303 3,205 7,113 Net income 297 1,526 911 Return on assets (ROA), % 2.10 8.31 1.98 Return on equity (ROE), % 29.65 41.51 17.92 ------------------------------------------------------------------------ In the opinion of Arthur Andersen and Ernst & Young, consolidated financial statements of the bank give a reliable representation of financial situation of the bank in all necessary aspects as of December 31, 1997, 1998, and 1999 as well as consolidated income and cash flow statements for indicated periods. All statements have been compiled according to international Accounting Standards. The auditing report is indisputable. PRUDENTIAL STANDARDS The banking supervision department of NBK reported that Bank TuranAlem OJSC maintained all prudential standards and other mandatory norms and limits as of Dec.01, 2000. The bank does not have overdue liabilities. COMPARATIVE CHARACTERISTICS Below is comparison of Bank TuranAlem OJSC with average figures of two largest Kazakhstani banks made by the KASE specialists as of Jan.01, 2001 (in KZT, thousands, unless otherwise specified). ------------------------------------------------------ Bank TuranAlem OJSC Average ratio Index -------------------- ------------------- ------------- Shareholders' equity 10,877,710 12,561,298 Assets 79,518,345 106,678,371 Net income 2,109,947 1,838,434 k1 (min 0,04) 0.10 0.07 k2 (min 0,08) 0.13 0.17 k4 (min 0,20) 0.61 0.92 ROА, % 2.65 1.69 ROE, % 19.40 12.94 ------------------------------------------------------