Alliance Bank OJSC (Kazakhstan) informed about main results of activity in the current year

/IRBIS, November 10, 03/ - Alliance Bank OJSC (Almaty) has spread press- release, which comprises main results of the bank's activity in the current year as of November 1. It's informed that bank's assets increased since the beginning of the year 2.5 times and reached KZT54.1 bn. (within similar period of last year the bank's assets grew by 103.3%). Stake of loan-portfolio in total sum of the bank's assets equaled to 55%. Volumes of investments into securities rose 4.6 times, and stake of securities portfolio equaled by November 1 to 33% in total sum of assets. In accordance with the bank's information, changes, which occur in 2003 in the structure of liabilities, are concerned with growth of deposit base that is a an indisputable indicator of depositors' trust in the bank. The bank's deposit portfolio increased within 10 months of the current year 2.6 times and equaled by November 1 to KZT42.8 bn., and bank's liabilities as the whole - KZT50.3 bn. The message also says that balanced increasing of the bank's liabilities is accompanied with increasing of capital. Due to the third securities issue authorized capital of Alliance Bank OJSC rose 1.7 times and equaled by November 1 of 2003 to KZT3.4 bn. The bank's shareholders equity, which has been calculated in accordance with prudential norms of the National Bank of Kazakhstan, equaled by November 1 of this year to KZT5.9 bn. "Positive dynamics of growth of capital evidences about effective work of the bank concerning controlling risks and following of economic norms, which determine optimal level of capital sufficiency that favorably influences upon indicators of the bank's reliability", - says the press-release. Total income of Alliance Bank OJSC equaled by November 1 of 2003 to KZT4.8 bn., net income - KZT270 m. Rather low profitability is explained by refusal high profit in favor of business development that is considered by the governing body of Alliance Bank OJSC as necessary investments for securing competitive advantages. At present the bank has 8 branches in the most developed regions of the country. Within the framework of expansion of activity range and increasing of investments into regional development programs Alliance Bank plans to open a branch in the nearest weeks in Atyrau city, and in 2004 - in three cities, mainly in the west of Kazakhstan. [2003-11-10]