Financial results of KAZKOMMERTSBANK JSC (Kazakhstan) for 2003

/IRBIS, Galina Tsalyuk, April 8, 04/ - Kazkommertsbank JSC (Almaty), whose securities are circulating in Kazakhstan stock exchange's (KASE) official "A" listing category, provided KASE with the financial statements for 2003. The following indicators are results of the bank's financial and economic activity in 2003, based upon the bank's data (in th. KZT, unless otherwise specified): ------------------------------------------------------------------------- As of As of Indicator Jan 1, 03 Jan 1, 04 ------------------------------------------------- ----------- ----------- Authorized capital (additional capital) 3,499,833 4,019,045 Shareholders' equity (according to Balance Sheet) 27,029,083 38,830,209 Total assets 267,195,131 422,315,370 Current assets 89,144,584 146,358,138 Loans to clients (net) 170,426,689 265,036,753 Total liabilities 240,166,048 383,485,161 Longer term debt (including bonds) 62,181,778 68,571,598 Clients' accounts and deposits 174,234,357 309,740,437 Total interest revenues/loss 17,851,345 20,523,754 Total non-interest income/loss 11,799,991 4,414,346 General and Administrative expenses (G&A) 6,723,168 7,360,020 Retained amounts 14,085,484 8,518,747 Net income for the period 7,219,418 6,820,057 ------------------------------------------------- ----------- ----------- Ratios based on issuer's data ------------------------------------------------- ----------- ----------- Return on Equity, % 26.71 17.56 Return on Assets, % 2.70 1.61 Earnings per share, KZT 23.34 18.77 Price-Earnings ratio 4.01 5.16 Book value of one share, KZT 77.19 96.62 ------------------------------------------------------------------------- Relative to 2002 following accounts increased: - shareholders' equity of the bank (according to balance sheet) - by KZT11.8 bn caused by increase in undistributed income - by 5.6 bn, additional paid-in capital - by 4.0 bn, savings in funds and reserves - by 1.7 bn and paid-in part of authorized capital - by 519.2 m; - total assets - by KZT155.1 bn, including: increase in net loan portfolio - by 94.6 bn, securities in bank's loan portfolio - by 46.3 bn, amounts at corresponding accounts - by 10.4 bn, depreciable basis of fixed assets - by 2.3bn and other assets - by 1.5 bn; - total liabilities - by KZT143.3 bn, including: accounts and deposits - by 135.5 bn, borrowings (including bonds) by 6.4 bn and other liabilities - by 1.4 bn; - net interest revenues - by KZT2.7 bn; - total G&A expenses - by KZT636.9 m. Net non-interest revenues relative to 2002 declined by KZT7.4 bn, retained amounts - by KZT5.6 bn. Net income earned by Kazkommertsbank JSC in 2003, declined relative to 2002 by KZT399.4 m. [2004-04-08]