Auditor's conclusion of Temirbank OJSC (Kazakhstan) financial statement for 2001

/KASE, June 13, 02/ - Temirbank OJSC (Almaty), whose securities are circulating under category A of the official listing presented KASE the auditor's conclusion compiled by PriceWaterhouseCoopers (Almaty, Kazakhstan) in accordance with consolidated financial statement of the bank for 2001 and made in accordance with International standards. According to the audited financial statement data the results of the bank's economic activity by December 31, 2001 and 2000 are as follows (in th. KZT, unless otherwise indicated): --------------------------------------------------------------------- Indicator 2000 2001 --------------------------------------------- ---------- ---------- Authorized capital (paid exclusive withdrawn) 1,379,314 1,382,902 Shareholders' equity 1,754,627 2,127,765 Total assets 13,613,413 21,852,068 Total liquid assets 4,821,978 7,172,660 Floatations and loans to banks (net) 1,756,129 4,504,304 Loans and advances to clients (net) 8,026,721 13,727,904 Bonds iisued 721,055 1,634,176 Indebtedness to banks 2,515,824 7,203,245 Indebtedness to clients 8,428,482 10,520,770 Revenues from operational activitiy 2,942,782 3,311,739 Total expenses 2,872,291 2,941,565 Net income 70,491 370,174 --------------------------------------------------------------------- According to the auditor's data it's calculated: --------------------------------------------------------------------- Return on equity (ROE), % 4.02 17.40 Return on assets (ROA), % 0.52 1.69 Earnings per share (EPS), tenge 49.65 269.17 Book value of one share, tenge 1,272.10 1,538.62 --------------------------------------------------------------------- Earnings per share (EPS) for 2000 and 2001 were calculated taking into account dividends that were imposed on the bank's preference shares, in accordance with auditor's conclusion data. Audit was carried out by PriceWaterhouseCoopers in accordance with International auditing standards. The bank's financial statement was correspondingly corrected with the purpose of compliance with the International accounting standards.] The bank's consolidated financial statement comprises financial statement of the subsidiary company Temir Capital B.V. (registered on October 16, 2001 in Rotterdam city, The Netherlands), in which the bank possesses 100% market share. In the auditor's opinion the consolidated financial statement, in all significant aspects presents impartial picture of financial situation of Temirbank OJSC and its subsidiary company by December 31, 2001 and 2000, the results of its activity and cash flow within the years which ended by the date mentioned above in compliance with International accounting standards. [2002-06-13]