REFERENCE: SB Alfa-Bank OJSC (Kazakhstan) - assets and liabilities

/IRBIS, information of the KASE Listing commission, March 4, 02/ - The following information is published due to the admittance of the first issue indexed inscribed coupon bonds of SB Alfa-Bank OJSC (SB Alfa-Bank OJSC, Almaty) into official list of the Kazakhstan Stock Exchange (KASE) under category "A". ASSETS Assets of SB Alfa-Bank OJSC grew by KZT4.2bn or 3.4 times from 1999 to 2001 (by KZT0.7bn or 1.4 times in 1999 against 1998, by KZT2.6bn or 2.1 times in 2000 to 1999, by KZT0.8bn or 1.2 in 2001 to 2000). More than 90% of them are profitable assets. Except for 1999 most of the assets growth was attributable to the loan portfolio of the bank (in 1999 - a KZT0.3bn decline, in 2000 - KZT2.7bn increase, in 2001 - KZT0.5bn increase). LOAN PORTFOLIO Loan portfolio of SB Alfa-Bank OJSC increased by KZT2.9bn or 5.2 times from 1999 to 2001. Its proportion increased from 39.7% (1998) to 60.9% (2001) within total assets. Financing of lending activities is conducted by the bank through time deposits of the clients and its own funds. Structure of SB Alfa-Bank OJSC loan portfolio based on terms ------------------------------------------------------------------------ as of Jan 1.99 as of Jan 1.00 as of Jan 1.01 as of Jan 1.02 -------------- -------------- --------------- --------------- th. th. th. th. Credits KZT % KZT % KZT % KZT % ---------- -------- ----- -------- ----- --------- ----- --------- ----- Short-term 984,745 99.9 171,238 38.1 2,806,632 88.0 3,487,708 91.9 Mid-term 1,222 0.1 277,759 61.9 384,256 12.0 275,573 7.3 Long-term 0 0 0 0 0 0 33,435 0.9 ---------- -------- ----- -------- ----- --------- ----- --------- ----- Total 985,967 100.0 448,997 100.0 3,190,888 100.0 3,796,716 100.0 ------------------------------------------------------------------------ In 2001 most of the financing was used in trade (29.1%), agriculture and food industry (22.0%), industry (18.1%), construction (11.5%) and others (19.3%). Quality of SB Alfa-Bank OJSC loan portfolio ------------------------------------------------------------------------------ as of Jan 1.99 as of Jan 1.00 as of Jan 1.01 as of Jan 1.02 -------------- -------------- --------------- --------------- Loan type th. th. th. th. KZT % KZT % KZT % KZT % ---------------- -------- ----- -------- ----- --------- ----- --------- ----- Standard 843,924 85.6 59,958 13.3 2,037,620 63.9 1,686,081 43.9 Substandard 142,043 14.4 208,107 46.1 928,702 29.1 1,368,098 35.7 Substandard with payment deferral 0 0 0 0 0 0 241,176 6.3 Unsatisfactory 0 0 175,719 38.9 180,192 5.6 519,715 13.5 Doubtful with high risk 0 0 8,077 1.8 42,856 1.3 21,479 0.6 Unprofitable 0 0 0 0 0 0 0 0 ---------------- -------- ----- -------- ----- --------- ----- --------- ----- Total 985,967 100.0 451,861 100.0 3,189,368 100.0 3,836,549 100.0 ------------------------------------------------------------------------------ Comments: volume of loan portfolio is given with guarantees Provisions created by SB Alfa-Bank OJSC ------------------------------------------------------------------------------- as of Jan 1.99 as of Jan 1.00 as of Jan 1.01 as of Jan 1.02 -------------- -------------- -------------- -------------- Type of liabilities th. th. th. th. KZT % KZT % KZT % KZT % ------------------- ------- ------ ------- ------ -------- ----- -------- ----- Standard 0 0.0 0 0.0 0 0.0 0 0 Substandard 7,102 100.0 10,405 21.0 46,435 44.7 68,405 33.0 Substandard with payment deferral 0 0 0 0 0 0 24,118 11.6 Unsatisfactory 0 0 35,144 70.9 36,038 34.7 103,943 50.2 Doubtful with high risk 0 0 4,039 8.1 21,428 20.6 10,739 5.2 Unprofitable 0 0 0 0 0 0 0 0 ------------------- ------- ------ ------- ------ -------- ----- -------- ----- Total 7,102 100.0 46,818 100.0 103,901 100.0 207,205 100.0 ------------------------------------------------------------------------------- Comments: volume of loan portfolio is given with guarantees The most of the financing are standard loans that do not require provisions. From 1999 there are no unprofitable loans in loan portfolio of the bank. The change in proportion of the provisions is not clear, though it increased by 99.4% as loan portfolio increased by 20.3%, which is considered a positive factor. EQUITY Equity of SB Alfa-Bank OJSC (th. KZT) ------------------------------------------------------------- as of Jan as of Jan as of Jan as of Jan 1.99 1.00 1.01 1.02 --------------------- --------- --------- --------- --------- Core capital 574,538 578,686 673,269 1,275,924 Supplementary capital 21,318 414,519 397,742 739,575 --------------------- --------- --------- --------- --------- Equity 595,656 993,005 1,070,811 2,015,299 ------------------------------------------------------------- From 1999 to 2001 equity of SB Alfa-Bank OJSC, calculated by the instructions of the National Bank, increased by KZT1.4bn or 3.4 times. In 1999 the growth of the equity by KZT397.3m or 1.7 times was mainly due to the increase in supplementary capital by KZT393.2m. In 2000 the increase in equity of SB Alfa-Bank OJSC by KZT77.8m or 7.8% was a result of a growth in core capital by KZT94.6m and KZT16.8m decline in supplementary capital. In 2001 the growth of core capital was KZT944.5m or 88.2% to 2000, which is due to an increase in KZT602.7m growth of core capital and KZT341.8m of supplementary capital. LIABILITIES Liabilities of SB Alfa-Bank OJSC increased by KZT3.3bn or 3.9 times from 1999 to 2001, including deposits - KZT2.7bn or 4.8 times. By the information of the bank, in late 2001 deposits of individuals reached KZT1.3bn (growth against the beginning of 1999 by KZT1.2bn or 13.2 times), legal entities - KZT2.2bn (growth against the beginning of 1999 by KZT1.6bn or 3.5 times). As of January 1, 2002 attracted deposits reached 78.4% of total liabilities or KZT3.5bn, including 20.0% of time deposits, 58.4% of call deposits. Structure of SB Alfa-Bank OJSC liabilities ------------------------------------------------------------------------ as of Jan 1.00 as of Jan 1.01 as of Jan 1.02 --------------- --------------- --------------- th. th. th. Provisions KZT % KZT % KZT % ------------------------ --------- ----- --------- ----- --------- ----- Call deposits 883,224 49.9 2,225,240 50.6 2,572,610 58.4 Time deposits 346,529 19.6 401,268 9.1 882,072 20.0 Liabilities to banks and other organizations 502,743 28.4 1,539,829 35.0 787,874 17.9 Other liabilities 37,701 2.1 229,459 5.2 165,216 3.7 ------------------------ --------- ----- --------- ----- --------- ----- Total 1,770,197 100.0 4,395,796 100.0 4,407,772 100.0 ------------------------------------------------------------------------ From January 1, 2000 through January 1, 2002 the growth of time deposits reached KZT472.4m or 2.2 times in absolute terms, with their proportion increasing from 19.6% to 20.0% of total volume. Call deposits increased by KZT2.3bn or 8.2 times during the same period. Proportion of SB Alfa-Bank OJSC assets and liabilities by terms as of January 1, 2002 (th. KZT) --------------------------------------------------------------------------------- More Assets / Till 1 1-3 3-6 6-12 1-3 than Liabilities month months months months years 3 yrs TOTAL ----------------- --------- ------- --------- --------- ------- ------- --------- Cash 1,317,527 - - - - - 1,317,527 Deposit accounts in other banks - - - - - - - Securities 194,000 102,000 - - 218,573 169,132 683,704 Loans to clients, 284,284 693,834 1,127,650 1,439,833 4,481 33,346 3,583,428 gross Others 95,878 36,368 171,623 303,869 ----------------- --------- ------- --------- --------- ------- ------- --------- Total assets 1,891,690 832,202 1,127,650 1,439,833 223,054 374,100 5,888,529 ----------------- --------- ------- --------- --------- ------- ------- --------- Liabilities to 161,541 - - - - - 161,541 other banks Client deposits 2,728,121 167,342 257,534 301,607 77 - 3,454,681 Subordinate loans - - - - - 510,680 510,680 Other liabilities 212,071 68,345 - - 453 - 280,869 ----------------- --------- ------- --------- --------- ------- ------- --------- Total liabilities 3,101,733 235,687 257,534 301,607 530 510,680 4,407,771 ---------------------------------------------------------------------------------