Auditing report on financial statements of KAZKOMMERTSBANK OJSC (Kazakhstan) for 2001

/KASE, Apr 30, 02/ - KAZKOMMERTSBANK OJSC (Almaty), whose securities are traded in official list of the Exchange securities under category "A", provided the KASE with auditing report of Deloitte & Touche (Almaty, Kazakhstan) made on consolidated financial statements of the banks for 2001, which have been prepared by International Accounting Standards. By the data of an independent auditor, following are the results of financial and economic activities of the banks as of December 31, 2001 and 2000 (in th. KZT, unless otherwise specified): -------------------------------------------------------------------- Ratio 2000 2001 ------------------------------------------ ----------- ----------- Authorized capital (paid) 2,931,906 3,497,691 Weighted average issued shares 284,677,841 287,982,090 Shareholders' equity 17,352,087 24,423,028 Total assets 124,015,677 194,343,507 Total liquid assets 47,072,224 42,636,459 Offered amounts and loans to clients (net) 67,080,203 137,661,500 Offered amounts and loans to banks (net) 15,711,530 17,569,835 Liabilities to banks 23,362,974 42,900,272 Liabilities to clients 54,138,572 108,975,301 Operating income 9,128,335 12,033,420 General expenses 5,276,482 5,940,102 Net income 4,024,190 5,288,901 ------------------------------------------ ----------- ----------- Calculated by audited financial statements ------------------------------------------ ----------- ----------- Return on equity (ROE), % 23.19 21.66 Return on assets (ROA), % 3.24 2.72 Earnings per share (EPS), KZT* 14.14 18.37 Book value of a share, KZT* 60.95 84.81 -------------------------------------------------------------------- * - calculated on weighted average number of shares. Audit was conducted by Deloitte & Touche based on International Auditing Standards. Financial statements of the bank have been corrected properly to make them in compliance with International Auditing Standards. Consolidated financial statements of the bank includes financial statements of following subsidiaries, where the bank has 100% stake: Kazkommerts Securities OJSC (Almaty, Kazakhstan), Kazkommertspolis OJSC (Almaty, Kazakhstan), as well as the one registered in the Chamber of commerce of Rotterdam - Kazkommerts Capital - 2 B.V., Kazkommerts International B.V. and Kazkommerts Finance - 2 B.V. Due to the absence of any economic activities the liquidation of a subsidiary Edinaya raschetnaya sistema CJSC (Almaty, Kazakhstan) started. The following are associated companies, where the investments are considered at the proportion of the stake in the capital: ABN AMRO Bank Kazakhstan CJSC (stake - 29.0%), PAMC ABN AMRO Asset Management CJSC (48.9%), Accumulative Pension Fund UlarUmit CJSC (25.0%). In the opinion of the auditor, consolidated financial statements give true reflection consolidated financial conditions of KAZKOMMERTSBANK OJSC and its subsidiaries as of December 31, 2001 and 2000, results of their activities and cash flows for each year that ended on those dates based on International Accounting Standards. [2002-04-30]