Results of activity of NEFTEBANK OJSC (Kazakhstan) in 2003

/IRBIS, Galina Tsalyuk, April 1, 04/ - NEFTEBANK OJSC (Aktau), whose shares are circulating in the official "B" listing category of Kazakhstan stock exchange Inc. (KASE), provided KASE with the financial statement for 2003. Following indicators are the result of the bank's financial and economic activity in 2003, based upon the bank's data (th. KZT, unless otherwise specified): -------------------------------------------------------------------------- as of as of Change, Indicator Jan 1, 03 Jan 1, 04 % ------------------------------------------- --------- --------- ------- Authorized capital (paid) 835,757 835,757 0.0 Shareholders' equity (according to balance) 787,363 913,606 +16.0 Book value of assets 3,018,376 3,535,625 +17.1 Liquid assets 255,101 1,038,589 +307.1 Credits granted (net) 1,961,795 1,702,302 -13.2 Total liabilities 2,231,013 2,622,019 +17.5 Deposits placed in the bank 1,763,913 2,195,845 +24.5 Borrowed loans 435,111 368,110 -15.4 Total revenues 449,596 705,377 +56.9 Total expenses 824,065 579,138 -29.7 Net income (loss) for the period (374,469) 126,239 - ------------------------------------------- --------- --------- ------- Calculated according to issuer's data: ------------------------------------------- --------- --------- ------- Return on equity (ROE), % - 13.82 - Return on assets (ROA), % - 3.57 - Earning per share (EPS), KZT - 199.53 - Book value of one share, KZT 1,244.51 1,444.05 16.0 -------------------------------------------------------------------------- Price earnings ratio (P/E) has not been calculated because only direct deals in the bank's shares were made in the mentioned years, and they are not market deals. Relative to 2002 there is increase of: - shareholders' equity - by KZT126.2 m. as the result of increase of total sum of undistributed income by KZT129.7 m., whereas there took place decrease of fixed assets revaluation fund by 3.5 m.; - assets - by KZT517.2 m. that was caused by growth of sums on correspondent accounts by 730.2 m. and other assets - by 46.5 m., whereas there took place decrease of net-volume of loan portfolio - by KZT259.5 m.; - liabilities - by KZT391.0 m., because of growth of deposits placed in the bank - by 431.9 m. that was partially covered by the decrease of other liabilities by 40.9 m.; - revenues - by KZT255.8 m. In comparison with 2002 bank's expenses decreased by KZT244.9 m. According to results of activity in 2003, net income of NEFTEBANK OJSC equaled to KZT126.2 m. against 374.5 m. of losses in 2002. [2004-04-02]