Results of activity of Development Bank of Kazakhstan CJSC (Kazakhstan) for the I quarter of 2003

/KASE, June 11, 03/ - Development Bank of Kazakhstan CJSC (Astana), whose bonds are circulating in Kazakhstan stock exchange's (KASE) official "A" listing category, provided KASE with the financial statement for the I quarter of 2003, which was prepared in compliance with international standards. The following indicators are results of the bank's financial and economic activity for the I quarter of 2003, based upon the bank's information (in th. KZT): ----------------------------------------------------------- As of As of Indicator Apr 1, 02 Apr 1, 03 Change,% ------------------------- ---------- ---------- -------- Authorized capital (paid) 27,576,726 30,000,000 +8.8 Shareholders' equity 28,900,778 32,972,244 +14.1 Book value assets 32,017,160 57,270,536 +78.9 Liquid assets 30,389,576 45,048,139 +48.2 Credits granted (net) 242,782 12,017,011 +4,849.7 Total liabilities 3,116,382 24,298,292 +679.7 Loans and deposits (net) 2,855,315 4,303,345 +50.7 Issued bonds 2,847,216 19,831,660 +596.5 Total revenues 785,635 1,139,492 +45.0 General expenses 154,234 977,651 +533.9 Net income for the period 630,529 161,841 -74.3 ----------------------------------------------------------- Relative to similar period of 2002 there is increase of: - shareholders' equity of the bank - by KZT4.1 bn as the result of increase of the paid part of authorized capital by KZT2.4 bn, net income and reserves - by 1.6 bn; - assets - by KZT25.2 bn, that was caused by increase of funds, which had been placed in other banks - by 8.3 bn, net-volume of loan portfolio - by 11.8 bn, securities (including reverse repo) - by 6.0 bn, whereas there took place decrease of other assets by 766.3 m; - liabilities - by KZT21.2 bn, including: on issued bonds - by 17.0 bn, indebtedness to other banks - by 4.3 bn and decrease of other liabilities - by 96.7 m; - revenues - by KZT353.8 m; - expenses - by KZT823.4 m, including on interest payment - by 421.0 m. Net income, which Development Bank of Kazakhstan CJSC received in the I quarter of 2003, decreased in comparison with similar period of 2002 by KZT468.7 m, that had been caused by the significant growth of expenses concerned with interest payment on the borrowed funds, and also expenses concerned with formation of reserves on possible losses from crediting activity. Primary activity: rendering of banking services (excluding attracting of deposits and opening of banking accounts for physical and juridical persons, excluding opening and maintaining of accounts of conditional deposit, reserve accounts in accordance with agreements on loans, which are guaranteed by the state, and also on servicing investment projects, which are financed at the expense of Republican and local budgets' means). [2003-06-11]