Neftebank OJSC (Kazakhstan) pays dividends for year 2000 and raise $2.5m from IFC

/KASE, Oct 5, 01/ - Neftebank OJSC (Aktau) provided the KASE with a copy of the minutes of annual general shareholders meeting which was held on May 7, 2001. Based on approved agenda the shareholders of Neftebank OJSC approved the constitution of Account commission, report of the Board on the company's results in 2000, annual financial statements for the year 2000 and report of Supervision commission, as well as made following decisions: - use an income of KZT58.4m received in 2000 in capitalization of authorized capital; - allow the Board to elect independent auditor from the list of the National Bank of Kazakhstan; give controlling functions to the Board of directors over the correctness of the choice; - elect the Board of directors consisting of 7 members: Suindikov J., Idrisov D.A., Esengaliev B., Pazylbekov M.S., Ablyazimov B., Alenov K.K.; - approve a big deal between Neftebank OJSC and International Financial Corporation (IFC) to receive a $2.5m loan for 7 years on credit terms; - approve an option deal that gives preemptive right to IFC to buy and sell 10 and more percent of the bank's shares; - add a supervisor from IFC into the Board of directors of the bank based on the terms of the loan; - give the right to the Board of the bank to conduct a bond issue; charge the Board of directors with controlling functions (review of issue volume and others); - give the Board of the bank a right to select printed media where the information on the bank will be published based on existing law. Chairman of the Board, Mamanov J.M. made a speech on results in year 2000. It was said that in 2000 and in early 2001 a TWINNING program was completed under line of the World bank, which is confirmed by the certificate issued to the bank on April 29, 2001. In 2000 the currency of the balance sheet increased to KZT34 bn, shareholders' equity equaled KZT1.0 bn, payment turnover - KZT171.8m. Now, bank services more than 2,478 legal entities (113 of them opened accounts in 2000) and 15 th. Individuals. Total volume of credits granted increased 1.4 times relative to 1999, including: tenge loans grew 2.4 times, currency loans fell 1.7 times. As of January 1, 2001 debt of the borrowers equaled KZT2.2 bn. In 2000 a total of KZT324.0m was granted as loans to individuals. Credit income reached KZT366.3m. The modernization of the bank's technical equipment consumed KZT33.0m in 2000, and KZT30.0m planned for the year 2001. The bank obtained a license to offer safe keeping services. Till the end of 2001 Neftebank OJSC plans to enter the plastic cards market: international payment system VISA International is reviewing the bank's documents to this organization. Now, the bank serves plastic cards of Europay/MasterCard, VISA International, Dinners Club and Altyn. The number of employees in late 2000 was 201, including branches. Common inscribed shares of Neftebank OJSC (KZ1C36500212, trade code - NFBN) are in official list of the Exchange under category "B" from April 7, 1999 (from Apr 15, 98 through Apr 7, 99 they were under category "A").