Results of activity of Kazakhstan Mortgage Company CJSC (Kazakhstan) for the I quarter of 2003

/KASE, June 11, 03/ - Kazakhstan Mortgage Company CJSC (Almaty), whose bonds are circulating in Kazakhstan stock exchange's (KASE) official "A" listing category, provided KASE with financial statement for the I quarter of 2003. The following indicators are result of the issuer's financial and economic activity in the I quarter of 2003, based upon the issuer's information (in th. KZT): ---------------------------------------------------------- As of As of Indicator Apr 1, 02 Apr 1, 03 Change,% ------------------------- --------- --------- --------- Authorized capital (paid) 1,000,000 1,500,000 +50.0 Shareholders' equity 1,074,792 1,651,103 +53.6 Total assets 1,077,605 2,206,122 +104.7 Liquid assets 893,704 837,567 -6.3 Mortgage loans 152,578 1,317,503 +763.5 Liabilities, total 2,813 555,019 +19,627.8 Issued bonds - 500,000 - Total revenues 33,386 70,237 +110.4 Total expenses 14,044 35,837 +155.2 Net income for the period 19,342 34,400 +77.9 ---------------------------------------------------------- Relative to similar period of 2002 there is increase of: - shareholders' equity - by KZT576.3 m. as the result of increase of the paid part of authorized capital by 500.0 m. (floatation of shares of the 2nd issue), reserve capital - by 50.0 m. and total sum of income - by 26.3 m.; - assets - by KZT1.1 bn. that was caused by increase of the volume of mortgage loans - by 1.2 bn., whereas there took place decrease of other assets - by 54.9 m.; - liabilities - by KZT552.2 m., in accordance with floatation of bonds by 500.0 m. and increase of other liabilities by KZT52.2 m.; - revenues - by KZT36.8 m; - expenses - by KZT21.8 m. Net income, which Kazakhstan Mortgage Company CJSC received by the results of the I quarter of 2003, exceeded income of similar period of 2002 by KZT15.0 m. Company's primary activities - loan operations (giving credits in monetary form on the terms of paying off, urgency and giving back), factoring operations (purchasing of rights of payment requirement from consumer of goods (works, services) with assumption of the risk of non-payment). [2003-06-11]