Financial Results of Bank TuranAlem JSC (Kazakhstan) for 2003

/KASE, April 9, 04/ - Bank TuranAlem JSC (Almaty), whose securities are circulating in Kazakhstan stock exchange's (KASE) official "A" listing category, provided KASE with financial statements for 2003. The following indicators are results of the bank's financial and economic activity for the 9 months of 2003, based upon the bank's information (in th. KZT, unless otherwise specified): ------------------------------------------------------------------------------- As of As of Indicator Jan 1, 03 Jan 1, 04 Change,% ------------------------------------------- ----------- ----------- -------- Authorized capital (paid minus withdrawn) 17,033,570 23,306,794 +36.8 Shareholders' equity (as per balance sheet) 22,485,789 29,670,510 +32.0 Total assets 228,741,894 369,978,680 +61.7 Current assets 79,205,868 104,502,357 +31.9 Loans to clients (net) 137,325,280 253,457,964 +84.6 Total liabilities 206,256,105 340,308,170 +65.0 Time and demand deposits 133,605,883 202,037,177 +51.2 Borrowed loans 45,235,520 104,019,722 +130.0 Bonds issued 23,130,019 30,475,463 +31.8 Total interest income/loss 11,813,438 15,162,361 +28.3 Total non-interest income/loss 3,338,911 6,833,273 +104.7 General and administrative expenses (G&A) 9,101,106 12,728,384 +39.9 Retained amounts 9,942,547 11,855,717 +19.2 Net income for the period 3,028,719 4,818,909 +59.1 ------------------------------------------- ----------- ----------- -------- Ratios based on issuer's data ------------------------------------------- ----------- ----------- -------- Return on Equity, % 13.47 16.24 +20.6 Return on Assets, % 1.32 1.30 -1.6 Earnings per Share, KZT 2,353.27 2,821.40* +19.9 Price-Earnings ratio 5.98 5.45* -8.9 Book value of one share, KZT 13,200.87 13,534.58 +2.5 ------------------------------------------------------------------------------- Earnings per Share and Price-Earnings ratio for 2003 were not adjusted for forthcoming dividends on preferred shares, because dividends amount is not clear yet. Relative to 2002 following accounts increased: - shareholders' equity of the bank (according to balance sheet) - by KZT7.2 bn. as a result of increase in total paid-in part of capital - by KZT6.3 bn., reserved capital - by KZT2.6 bn. and decrease in additional capital by 1.6 bn and revaluation reserves on fixed assets - by 135.4 m; - total assets - by KZT141.2 bn., caused by increase in net-volume of loan portfolio - by 116.1 bn., securities in the bank's portfolio - by 30.4 bn., cash - by 2.9 bn, investments in capital - by 2.1 bn, as well as decrease in time and demand deposits placed with other banks - by 8.0 bn and other assets - by KZT2.3 bn.; - total liabilities - by KZT134.0 bn. caused by increase in time and demand deposits - by 58.8 bn., issued bonds - by 7.3 bn., that was partially offset by decrease in other liabilities - 508.9 bn; - total interest income - by KZT3.3 bn; - total non-interest income - by KZT3.5 bn; - G&A expenses - by KZT3.6 bn; - retained amounts - by KZT1.9 bn. Net income earned by Bank TuranAlem JSC in 2003 exceeded net income of 2002 by KZT1.8 bn. [2004-04-09]