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Market and Company News
04.03.2002 00:00

REFERENCE: SB Alfa-Bank OJSC (Kazakhstan) - dynamics of financial indicators, prudential norms

/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".

SB Alfa-Bank OJSC prepares financial reporting in compliance with Kazakhstan accounting standards and also banking legislation, instructions and provisions of the National bank of the Republic of Kazakhstan.

Following are data of financial reporting (in th. KZT, unless otherwise is specified) presented to KASE by the issuer and indicators calculated by the exchange on their basis. Total amount of liquid assets and own equity are determined in accordance with the National Bank instruction.

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Indicator                        As of Jan  As of Jan  As of Jan  As of Jan
                                     01,99      01,00      01,01      01,02
-------------------------------  ---------  ---------  ---------  ---------
Authorized capital (paid           339,681    339,681    339,681  1,000,000
Shareholders' equity               595,656    993,005  1,070,811  2,015,299
Total assets                     1,720,882  2,451,890  5,084,124  5,888,530
Liquid assets                      927,188  1,897,370  1,757,567  2,001,231
Credits granted                    682,857    403,448  3,075,984  3,583,428
Loans and deposits               1,116,834  1,732,496  4,166,337  4,242,556
Incomes from operating activity    337,379    498,714    447,264    888,720
Nat income                          91,326     98,489     10,577    141,856
Return on assets (ROA), %             5.31       4.02       0.21       2.41
Return on equity (ROE), %            15.76      14.45       1.54       9.58
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SB Alfa-Bank OJSC has been performing international audit of financial reporting from 1997. Audit of financial reporting of the bank for 1997 and 1998 was performed by PricewaterhouseCoopers (Almaty, Kazakhstan), for 1999 and 2000 - Arthur Andersen (Almaty, Kazakhstan).

Following is a table composed based on data of audit conclusions (in th. KZT, unless otherwise is specified).

------------------------------------------------------------------------
Indicator                                    As of      As of      As of
                                         Jan 01,99  Jan 01,00  Jan 01,01
--------------------------------  ----------------  ---------  ---------
Authorized capital (paid)                  339,681    339,681    339,681
Shareholders' equity                       577,061    676,950    678,431
Total assets                             1,706,086  2,449,875  5,076,526
Liquid assets                              916,890  1,897,370  1,869,728
Floating and loans to clients              671,552    402,144  3,070,644
Banks' indebtedness                          5,929  1,673,219    779,927
Indebtedness to banks and other
credit organizations                       376,921    205,632  1,178,579
Subordinated debt                           17,664    297,111    361,250
Nat income (loss)                           84,594    105,437      1,481
Return ion equity (ROЕ), %                    4.96       0.16       0.00
Return on assets (ROА), %                    14.66       0.04       0.00
------------------------------------------------------------------------

According to PricewaterhouseCoopers, financial reporting of SB Alfa-Bank OJSC for 1998 in all significant aspects reflects financial position of the bank as well results of its financial and economic activity and cash flows for given period in compliance with International accounting standards.

According to Arthur Andersen, balance reports for 1999 and 2000 years in all significant aspects reflect truly financial position of the bank as well as results of financial and economic activity and cash flows for given period in compliance with International accounting standards.

Auditors confirm that as of December 31 of 1999 and 2000 years liquidity level of SB Alfa-Bank OJSC and other indicators correspond to prudential norms stated by the National Bank of Kazakhstan.

Data on performance by SB Alfa-Bank OJSC of prudential norms

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Ratio                              Jan 01,99  Jan 01,00  Jan 01,01  Jan 01,02
---------------------------------  ---------  ---------  ---------  ---------
Core capital К1, th. KZT             574,538    578,686    673,269  1,275,924
Supplementary capital К2, th. KZT     21,318    414,519    397,742    739,575
Shareholders' equity К, th. KZT      595,656    993,005  1,070,811  2,015,299
Capital sufficiency ratio k1
(allowed min = 0.04)                    0.33       0.24       0.13       0.22
Capital sufficiency ratio k2
(allowed min = 0.12)                    0.77       0.50       0.28       0.44
Maximum risk for one borrower k3
(allowed max = 0.25)                    0.24       0.18       0.24       0.19
Maximum risk for one borrower k3
(allowed max = 0.10)                    0.01       0.00       0.00       0.04
Current liquidity ratio k4
(min = 0.2)                             2.96       2.17       0.51       0.58
Ratio of investments
to shareholders' equity k5
(allowed max = 0.5)                     0.18       0.11       0.10       0.07
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Following is a comparison of indicators of SB Alfa-Bank with average indicators on four comparable on a size of shareholder's equity Kazakhstan's banks. Average values of indicators were calculated based on data of financial reporting presented to KASE by banks that are members of the exchange of category "B" (participation in trades with foreign currency).

Comparable data as of February 2002 with other commercial banks (th. KZT, unless otherwise is specified)

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Indicator             SB Alfa-Bank OJSC  Average value
--------------------  -----------------  -------------
Shareholder's equity          2,071,465      1,717,555
Assets                        6,338,742      7,319,581
Net income                       32,371         13,942
k1 (min 0.04)                      0.26           0.22
k2 (min 0.08)                      0.47           0.68
k4 (min 0.20)                      0.67           1.28
ROА, %                             0.51           0.19
ROE, %                             1.56           0.81
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