Auditor's report on financial statement of Halyk Bank of Kazakhstan OJSC (Kazakhstan) for 2002

/KASE, May 28, 03/ - Halyk Bank of Kazakhstan OJSC (Almaty), whose securities are circulating in Kazakhstan stock exchange's (KASE) "А" listing category, has presented KASE auditor's report made by Ernst & Young (Almaty), which had been made on the bank's consolidated financial statement for 2002, prepared in compliance with international accounting standards. Result of the bank's consolidated financial and economic activity as of December 31 of 2001 and 2002 is presented by the following indexes, in accordance with the auditor's data (in th. KZT, unless otherwise specified): ------------------------------------------------------------------------------ Indicator 2001 2002 ---------------------------------------------------- ----------- ----------- Issued authorized capital (paid excluding withdrawn) 5,422,600 9,655,664 Shareholders' equity 6,903,023 14,187,119 Total assets 127,123,908 189,282,177 Sum of liquid assets 36,814,646 54,486,462 Funds in other banks 5,036,488 0 Loans and advances to clients (net) 80,517,958 125,816,039 Liabilities, total 120,220,669 175,095,058 Current accounts and deposits of clients 99,126,400 135,383,373 Funds of banks and financial institutions 16,184,017 32,106,910 Issued bonds 2,356,254 4,468,713 Total revenues 18,133,172 26,472,119 General expenses 18,102,110 24,600,956 Net income 31,062 1,871,163 ---------------------------------------------------- ----------- ----------- It's been calculated according to auditor's data: ---------------------------------------------------- ----------- ----------- Return on equity (ROE), % 0.45 13.19 Return on assets (ROA), % 0.02 0.99 Book value of one share, KZT 127.30 146.93 Earnings per share (EPS), KZT 0.57 27.22 Price earnings ratio (Р/Е) 313.39 4.78 ------------------------------------------------------------------------------ Audit of consolidated financial statement of the bank was conducted by Ernst & Young in compliance with international auditing standards. The bank's (hereinafter - Group) consolidated financial statement comprises financial statement of the following daughter companies: Halyk Leasing CJSC (Almaty, leasing), Kazteleport CJSC (Almaty, telecommunication services), PAMC HBRK CJSC (Almaty, pension assets management) and HSBK (Europe) B.V. (Amsterdam, financing services), in which the bank owns 100% market share. The Group's financial statement was correspondingly corrected in order to bring it in conformity with international accounting standards. In the auditor's opinion the consolidated financial statement exactly in all essential aspects reflects the Group's financial condition as of December 31 of 2002, about consolidated result of financial and economic activity and cash flow for the reporting year in compliance with international accounting standards. [2002-05-28]