Results of activity of NEFTEBANK OJSC (Kazakhstan) for 2002

/KASE, April 10, 03/ - NEFTEBANK OJSC (Aktau), whose shares are circulating in Kazakhstan stock exchange's (KASE) official "B" listing category, provided KASE with the financial statement for 2002: balance sheet, income statement and cash flow statement. The following indicators are results of the bank's financial and economic activity for 2002, based upon the bank's information (in th. KZT, unless otherwise specified): ------------------------------------------------------------- As of As of Indicator Jan 1, 02 Jan 1, 03 Change,% -------------------------------- --------- --------- -------- Issued authorized capital (paid) 847,841 835,757 -1.4 Shareholders' equity 1,177,796 787,363 -33.1 Book value of assets 3,689,417 3,018,376 -18.2 Liquid assets 437,390 255,101 -41.7 Credits granted (net) 2,478,486 2,199,124 -23.7 Total liabilities 2,511,621 2,231,013 -11.2 Loans and deposits 2,478,486 2,199,124 -11.3 Total revenues 552,225 449,596 -18.6 General expenses 531,332 824,065 +55.1 Net income (loss) for the period 20,893 (374,469) -1,892.3 ------------------------------------------------------------- It's been calculated according to issuer's data: ------------------------------------------------------------- Return on equity (ROE), % 1.77 - - Return on assets (ROA), % 0.57 - - Earnings per share (EPS), KZT 32.55 - - Price earnings ratio (Р/Е) 34.73 - - Book value of one share, KZT 1,835.09 1,244.51 -32.2 ------------------------------------------------------------- Relative to 2001 there are following changes: - shareholders' equity of the bank decreased by KZT390.4 m as the result of withdrawal of authorized capital in the amount of KZT12.1 m (purchasing of own shares), increase of uncovered loss by KZT374.8 m and decrease of fixed assets revaluation fund - by KZT3.5 m; - assets decreased by KZT671.0 m that was caused by decrease of net- volume of loan portfolio by 609.5 m, sums on correspondent accounts - by 179.9 m, whereas there took place increase of other assets - by 118.4 m; - liabilities decreased by KZT280.6 m, including: volume of deposits, which had been placed in the bank, - by 259.9 m, attracted credits - by 19.5 m and other liabilities - by 1.2 m; - revenues decreased by KZT102.6 m; - expenses rose by KZT292.7 m. According to results of activity for 2002 NEFTEBANK OJSC has loss in the amount of KZT374.5 m against 20.9 m of the net income, which had been received in 2001. The table below shows dynamics of some indicators of NEFTEBANK OJSC for 2002 by quarters by non-growing total (in m. KZT): ---------------------------------------------------------------------------- Change, Change, Change, Indicator I-2002 II-2002 % III-2002 % IV-2002 % ------------------ ------ ------- --------- -------- ------- ------- ------- Change of deposits 52.9 -248.9 -570.0 346.3 +239.1 -410.3 -218.5 Total revenues 126.2 102.9 -18.5 115.6 +12.4 104.8 -9.4 Net income 2.3 -230.7 -10,040.7 -66.5 +71.2 -79.6 -19.6 ---------------------------------------------------------------------------- [2003-04-10]