Results of activity of Nurbank OJSC (Kazakhstan) for 9 months of 2002

/KASE, November 28, 02/ - Nurbank OJSC (Almaty), whose bonds are circulating under the stock exchange's official "A" listing category, provided KASE with the financial statement for 9 months of 2002: the balance sheet, income statement and cash flow statement. The following indicators are results of the bank's financial and economic activity for 9 months of 2002, based upon the bank's information (in th. KZT): --------------------------------------------------------------- As of As of Indicator Oct 1, 01 Oct 1, 02 Change,% -------------------------------- ---------- ---------- -------- Issued authorized capital (paid) 2,700,000 2,711,400 +0.4 Shareholders' equity 4,455,169 5,399,235 +21.2 Total assets 34,170,470 28,858,897 -15.5 Liquid assets 22,632,036 10,662,062 -52.9 Credits granted (net) 8,230,517 14,676,265 +78.3 Total liabilities 29,715,301 23,459,662 -21.1 Loans and deposits 29,006,556 21,788,968 -24.9 Issued bonds - 847,996 - Total revenues 2,748,693 3,488,791 +26.9 General expenses 1,753,912 2,697,719 +53.8 Net income for the period 994,781 791,072 -20.5 --------------------------------------------------------------- Relative to similar period of 2001 there are following changes: - shareholders' equity of the bank increased by KZT944.1 m as the result of increase of savings in funds and reserves by KZT1.1 bn, paid part of authorized capital - by 11.4 m, whereas there took place decrease of total sum of undistributed income by 203.6 m; - assets decreased by KZT5.3 bn that was caused by decrease of deposits, which had been placed in other banks, by 9.3 bn and securities in the bank's portfolio - by 3.0 bn, whereas there took place increase of the net-volume of loan portfolio by 6.4 bn and other assets - by 564.5 m; - liabilities decreased by KZT6.3 bn in accordance with decrease of deposits by 9.4 bn that was partially covered by floatation of bonds for 848.0 m, increase of "repo" ytansactions volume by 926.7 m, attracted credits - by 392.8 m and other liabilities - by 961.9 m; - revenues increased by KZT740.1 m (including on credit portfolio by 627.5m); - expenses increased by KZT943.8 m (of them 476.9 m - increase of reserves for covering of possible losses). Net income of Nurbank OJSC, which was received by the results of 9 months of 2002 decreased in comparison with similar period of 2001 by KZT203.7 m. The table below shows dynamics of some indicators of Nurbank OJSC for 9 months of 2002 by quarters by non-growing result (in m KZT): ------------------------------------------------------------ Change, Change, Indicator I-2002 II-2002 % III-2002 % ------------------ -------- ------- ------- -------- ------- Change of deposits -1,805.0 685.4 +138.0 1,941.4 +183.3 Total revenues 1,1904 1,131.1 -5.0 1,167.2 +3.2 Net income 348.3 310.3 -10.9 132.4 -57.3 ------------------------------------------------------------ [2002-11-28]