Results of activity of NURBANK OJSC (Kazakhstan) in 2003

/IRBIS, Galina Tsalyuk, April 23, 04/ - NURBANK OJSC (Almaty), whose securities are circulating in the official "A" listing category of Kazakhstan stock exchange Inc., provided KASE with consolidated 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, Index Jan 1, 03 Jan 1, 04 % ----------------------------------------- ---------- ---------- ------- Authorized capital (paid) 3,000,000 3,265,000 +8.8 Shareholders' equity (acc-ing. to balance 6,228,169 7,195,425 +15.5 sheet) Total assets 36,339,196 61,802,845 +70.1 Liquid assets 16,815,013 18,670,330 +11.0 Credits granted (net) 18,278,332 38,161,367 +108.8 Liabilities, total 30,111,027 54,607,420 +81.4 Accounts and deposits 24,541,031 35,992,639 +46.7 Issued bonds 1,516,349 4,810,795 +217.3 Borrowed loans (excluding bonds) 3,398,004 9,266,826 +172.7 Net interest income (loss) 2,255,508 2,880,945 +27.7 Net non-interest income (loss) 2,001,055 1,610,552 -19.5 General and administrative expenses 1,594,761 2,053,619 +28.8 Deductions to reserves 849,852 870,690 +2.5 Net income 1,476,377 774,256 +47.6 ----------------------------------------- ---------- ---------- ------- Calculated by issuer's data: ----------------------------------------- ---------- ---------- ------- Return on equity (ROE), % 23.70 10.76 +23.7 Return on assets (ROA), % 4.06 1.25 +4.1 Book value of one share, KZT 20,760.6 22,038.1 +6.2 -------------------------------------------------------------------------- Earnings per one common share (EPS) and price earnings ratio (P/E) were not calculated because only privileged shares of the bank are in the official "A" listing category. Relative to 2002 there is increase of: - shareholders' equity of the bank (according to balance) - by KZT967.2 m. as the result of increase of paid part of authorized capital by 265.0 m. (floatation of the 6th issue shares), reserve capital - by KZT714.6 m., whereas there took place decrease of the sum of undistributed income by 12.3 m.; - assets - by KZT25.5 bn., including: net-volume of loan portfolio - by 19.9 bn., securities in the bank's portfolio - by 2.4 bn. and other assets - by 4.6 bn. that was partially covered by the decrease of sums on accounts in other banks by 1.5 bn.; - liabilities - by KZT24.5 bn., because of growth of rests on deposit accounts and other accounts by 11.4 bn., floated bonds - by 3.3 bn., borrowed loans - by 5.9 bn. and other liabilities - by 3.9 bn.; - net interest incomes - by KZT625.4 m.; - general and administrative expenses - by KZT458.8 m.; - deductions to reserves - by KZT20.8 m. Net non-interest expenses of the bank fell in comparison with 2002 by KZT390.5 m. Net income, which Nurbank OJSC received in 2003, decreased in comparison with net income of the year 2002 by KZT702.1 m. [2004-04-23]