Auditor's report on financial statement of AM Bank OJSC (Kazakhstan) for 2001

/KASE, September 19, 02/ - AMB OJSC (Almaty), whose securities are circulating under the stock exchange's official "А" listing category, presented KASE auditor's report made by Arthur Andersen (Almaty), conducted on the bank's consolidated financial statement for 2001, which had been prepared in compliance with Kazakhstan accounting standards. According to the auditor's data the following indicators are results of the bank's economic and financial activity as of December 31 of 2001 and 2000 (in th. KZT, unless otherwise specified): ------------------------------------------------------------------- Indicator 2000 2001 ------------------------------------------- ---------- ---------- Authorized capital (paid) 1,211,100 3,099,100 Shareholders' equity 1,791,276 4,250,911 Total assets 18,442,859 39,038,552 Sum of liquid assets 8,199,686 11,043,561 Loans to clients (net) 8,964,627 24,119,982 Total liabilities 15,907,589 34,076,210 Clients' funds 12,004,646 20,066,744 Banks' funds 2,541,682 12,282,998 Bonds issued 695,406 - Subordinated debt 743,994 711,431 Total revenues 3,352,829 5,193,095 General expenses 2,986,240 4,414,792 Net income 366,589 778,303 ------------------------------------------- ---------- ---------- It's been calculated by the auditor's data: ------------------------------------------- ---------- ---------- Return on equity (ROE), % 20.47 18.31 Return on assets (ROA), % 1.99 1.99 Earnings per share (EPS), KZT 166,480.02 263.67 Book value of one share, KZT* 813,476.84 1,371.66 ------------------------------------------------------------------- * - Such the great difference of book value of one share my the mentioned dates is explained by the following: - Book value of one share as of January 1, 01 has been calculated on the shares of first five issues, within the framework of which there were issued 2,202 only common shares with the face value of KZT550.0 th. each; - Book value of one share as of January 1, 02 has been calculated on the shares of the sixth issue (registered on May 22, 01 with simultaneous annulling of previous issues), within the framework of which there were issued 2,011,100 shares with the face value of KZT1,000.0 each, of them: 1,611,100 shares - common, 400,000 - privileged. Audit of the bank's consolidated financial statement was conducted by Arthur Andersen in compliance with international accounting and auditing standards. The bank's consolidated financial statement for 2000 comprises financial statement of two subsidiary companies - Insurance company "ATF Police" CJSC (Almaty, market share - 100%, insurance activity) and ATF leasing LLP (Almaty, 91.0%, financial leasing), for 2001 - only the financial statement of Insurance company "ATF Police" CJSC. In the auditor's opinion, the consolidated financial statement exactly and for sure reflects the bank's financial situation as of December 31 of 2001, and also results of its financial and economic activity and cash flow within the year, which ended by December 31 of the year 2001 in compliance with international accounting standards. [2002-09-19]