Financial Results of Kazakhstan Mortgage Company CJSC (Kazakhstan) for 2003

/IRBIS, Galina Tsalyuk, March 26, 03/ - Kazakhstan Mortgage Company CJSC (Almaty), whose bonds are circulating in Kazakhstan stock exchange's (KASE) official "A" listing category, provided KASE with financial statements for 2003. The following indicators are result of the issuer's financial and economic activity in 2003, based upon the issuer's information (in th. KZT): ----------------------------------------------------------------- As of As of Indicator Jan 1, 03 Jan 1, 04 Change,% -------------------------------- --------- ---------- -------- Issued (paid) authorized capital 1,500,000 2,500,000 +66.7 Shareholders' equity 1,616,703 2,759,480 +70.7 Total assets 2,138,104 10,068,410 +370.9 Liquid assets 955,929 1,858,809 +94.5 Mortgage loans 1,115,569 8,178,255 +633.1 Liabilities, total 521,401 7,308,930 +1,301.8 Issued bonds 500,000 7,269,364 +1,353.9 Total revenues 163,012 452,799 +177.8 Total expenses 96,309 310,022 +221.9 Net income for the period 66,703 142,777 +114.0 ----------------------------------------------------------------- Relative to 2002 balances of following accounts increased: - shareholders' equity - by KZT1.1 bn. as the result of increase of the paid part of authorized capital by 1.0 bn. (floatation of shares of the 3rd issue), reserve capital - by 66.7 m. and total sum of income - by 76.1 m.; - assets - by KZT7.9 bn. caused by increase in mortgage loans (granted) by 7.1 bn. and securities portfolio - by 903.3 m, whereas there took place decrease of other assets by 35.7 m.; - liabilities - by KZT6.8 bn. due to floatation of bonds for the same amount; - revenues - by KZT289.8 m; - expenses - by KZT213.7 m. Net income earned by Kazakhstan Mortgage Company CJSC in 2003, exceeded net income of 2002 by KZT76.1 m. Company's primary activities - loan operations (granting loans specifying number of payments, maturity and return), factoring operations (purchasing of rights for payment requirement from consumer of goods (works, services) with assumption of the risk of non-payment). [2004-03-26]