VALUT-TRANSIT BANK OJSC (Kazakhstan): financial ratios

/IRBIS, Oct 8, 01/ - Following is the brief reference to the main indicators of financial and economic activities of VALUT-TRANSIT BANK OJSC compiled on the basis of Listing Commission conclusion of the Kazakhstan Stock Exchange (KASE). The reference is published in connection with inclusion of the bank's bonds into category "A" of the officials list of KASE securities. Main financial indicators of the VALUT-TRANSIT BANK OJSC are compiled in accordance with the Kazakhstan Accounting Standards (KAS), banking legislation, instructions and regulations of the National Bank of Kazakhstan (NBK). Financial indicators of VALUT-TRANSIT BANK OJSC compiled according to audited statements, KZT, thousands unless otherwise indicated ------------------------------------------------------------------------- as of as of as of Indicator Jan 01, Jan 01, Jan 01, 1999 2000 2001 ---------------------------------------- --------- --------- --------- Authorised capital (paid-up) 500,000 1,000,000 1,300,000 Shareholders' equity 523,547 1,041,823 1,877,327 Total assets 1,672,201 2,846,628 6,057,302 Liquid assets 115,550 181,112 768,547 Credits granted (net) 1,160,509 2,408,919 4,645,887 Banking debts 5,320 9,356 - Indebtedness to banks 16,023 40,000 699,350 Indebtedness to clients 899,617 1,756,066 3,412,601 Income from operating activity 390,085 1,125,347 953,203 Net income (loss) 20,181 29,002 41,130 Return on equity (ROE), % 3.85 2.78 2.19 Return on assets (ROA), % 1.21 1.02 0.68 Net income per ordinary share (EPS), KZT 8.06 2.22 3.53 Book value of share, KZT 209.42 208.36 288.82 ------------------------------------------------------------------------- Data for 1998 were reviewed but not audited by KPMG Janat According to the KPMG Janat's conclusion, financial statements of VALUT- TRANSIT BANK OJSC gives a reliable and accurate picture of the company's financial situation for 1999 in all essential aspects including cash flow and income statements. The financial statements comply with Kazakhstan Accounting Standards. Financial statements of the bank whose audit was conducted by Deloitte & Touche were compile according to International Accounting Standards. According to Deloitte & Touche, balance sheet of VALUT-TRANSIT BANK OJSC gives a reliable and accurate picture of the company's financial situation for 2000 in all essential aspects. The auditor declined to give an opinion about income and cash flow statements as it did not conduct audit of the bank in past periods. The auditor confirmed that as of Dec. 31, 1999 and 2000 level of liquidity of VALUT-TRANSIT BANK OJSC and other indicators correspond to prudential standards of the National Bank of Kazakhstan. Data on execution of prudential standards by VALUT-TRANSIT BANK OJSC -------------------------------------------------------------------------------- Standard As of As of As of As of Jan, 99 Jan, 00 Jan, 01 July, 01 --------------------------------------- ------- --------- --------- --------- First level capital, K1, KZT, th. 497,231 1,005,231 1,84,477 2,089,787 Second level capital, K1, KZT, th. 35,364 64,264 160,588 234,824 Shareholders equity, K, KZT, th. 532,595 1,069,495 2,009,065 2,324,611 Capital adequacy ratio k1 (min = 0.04) 0.31 0.35 0.30 0.20 Capital adequacy ratio k2 (min = 0.12) 0.34 0.40 0.35 0.25 Risk size ratio k3 (max = 0.25) 0.24 0.24 0.20 0.23 Current liquidity ratio k4 (min = 0.3) 0.97 0.45 0.40 0.32 Investments-equity ratio k5 (max = 0.5) 0.30 0.20 0.30 0.29 -------------------------------------------------------------------------------- Table below presents characteristic of the bank in comparison with average ratios of banks (by the size of shareholders equity). Average ratios are compiled according to data of the financial statements presented by banks included into KASE membership under category "B" (forex trades). Comparable data as of July 01, 2001, KZT, thousands unless otherwise indicated ------------------------------------------------------------------------------ Indicator VALUT-TRANSIT BANK OJSC Average value over 4 other banks ------------------- ----------------------- -------------------------------- Shareholders equity 2,324,611 2,282,697 Assets 10,199,888 14,270,430 Net income` 144,581 238,638 K1 (min 0.04) 0.20 0.19 K2 (min 0.08) 0.25 1.45 K4 (min 0.20) 0.32 1.22 ROА, % 1.42 2.58 ROE, % 6.22 10.23 ------------------------------------------------------------------------------