Auditing report on 2000 financial statements of KAZKOMMERTSBANK OJSC (Kazakhstan)

/KASE, Aug 3, 01/ - KAZKOMMERTSBANK OJSC (Almaty, official list of securities, category "A"), in accordance with the listing requirements, provided KASE the auditing report of "Deloitte & Touche" (Almaty, Kazakhstan) made on 2000 consolidated financial statements. Based on independent auditor, who finished working on the report on Dec 31, 2000 and 1999, the following are the results (in th. KZT): Indicator 1999 2000 ------------------------------------------------ ----------- ----------- Authorised capital (paid up) 2,941,814 2,931,906 Weighted average issued shares, number of shares 285,390,136 284,677,841 Shareholders' equity 13,374,826 17,352,087 Total assets 81,185,724 124,015,677 Liquid assets 23,106,195 47,612,518 Loans and other outflows to the clients (net) 48,339,227 67,080,203 Loans and other outflows to the banks (net) 7,240,234 15,711,530 Liabilities to the banks 22,698,687 23,362,974 Liabilities to the clients 22,076,532 54,138,572 Operating profit 18,353,396 16,397,821 Total expenses 15,356,898 12,373,631 Net income 2,996,498 4,024,190 ------------------------------------------------ ----------- ----------- Calculated by the data of auditing report: ------------------------------------------------ ----------- ----------- Return on equity (ROE), % 22.40 23.19 Return on assets (ROA), % 3.69 3.24 Earnings per share (EPS), KZT 10.50 14.14 Book value of a share, KZT 46.87 60.95 -------------------------------------------------------------------------- Auditing was conducted by "Deloitte & Touche" in accordance with International accounting standards (IAS). Since KAZKOMMERTSBANK OJSC keeps its accounts and financial records based on the Kazakhstan accounting standards, and banking legislature financial statements of the bank were properly corrected to comply with IAS. The following is the number of bank's subsidiaries: Kazkommerts Securities OJSC (Almaty, Kazakhstan), United payment system CJSC (Almaty, Kazakhstan) and also registered by industrial chamber of Rotterdam - Kazkommerts Capital B.V. and Kazkommerts International B.V. The following companies are among associated companies whose investments are considered by participation under portion method : ABN AMRO Bank Kazakhstan CJSC (29.0%), ABN AMROAsset Management PAMC CJSC (48.9%), Umit PAF (20.0%), Kazkommerts-Police Insurance company OJSC (100.0%) In the opinion of the auditor, financial statements of KAZKOMMERTSBANK OJSC and its branch companies give a reliable and objective picture of financial situation as of December 31, 2000, 1998. The results of economic activity and cash flow statement for each year of three-year period ended on Dec. 31, 1999 stated in compliance with IAS. Today at KASE within official list of securities under A category the following securities of KAZKOMMERTSBANK OJSC are traded - from Oct 16, 1997 - common inscribed shares (KZ1C00400415, trade code - KKGB); - from Aug 31, 1999 - common coupon bonds of companies (KZ72KA7B9A11, KKGBb, Sept 06. 99 - Sept 06. 01, $100, $30,0 mln, semiannual coupon 10.0% APR). - from Dec 27, 2000 - euronotes (XS0122349615, KKGBe2, Dec 22. 00 - Dec 22. 07, $1,000, $20.0 mln, semiannual coupon 11.0% APR).