Audited financial statements of ATFBank JSC (Kazakhstan) for 2003

/IRBIS, Galina Tsalyuk, April 23, 04/ - ATFBank JSC (Almaty), whose securities are circulating in Kazakhstan stock exchange's (KASE) "А" listing category, presented KASE auditing results conducted by Ernst & Young (Almaty) on the bank's consolidated financial statements for 2003, prepared in compliance with International Financial Reporting Standards (IFRS). Results of the bank's consolidated financial activities and financial position as of December 31 of 2002 and 2003 appears below (in th. KZT, unless otherwise specified): ---------------------------------------------------------------------------- Indicator 2002 2003 ---------------------------------------------------- ---------- ---------- Issued authorized capital (paid excluding withdrawn) 3,099,974 6,239,523 Shareholders' equity 5,142,817 8,342,233 Total assets 58,221,432 95,429,824 Sum of liquid assets 19,778,430 29,725,965 Loans to clients (net) 34,761,711 60,487,547 Liabilities, total 53,049,890 87,107,591 Indebtedness to clients 31,545,022 44,825,775 Indebtedness to finance organizations 18,080,343 33,637,685 Funds and loans of the Government and 1,351,420 3,445,225 the National bank Issued bonds 1,593,595 4,345,969 Total revenues 7,143,859 10,476,241 Total expenses 6,136,138 9,020,228 Net income 1,005,686 1,456,013 Revenues per share, KZT 313.00 378.00 ---------------------------------------------------- ---------- ---------- It's been calculated according to auditor's data: ---------------------------------------------------- ---------- ---------- Return on equity (ROE), % 19.56 17.45 Return on assets (ROA), % 1.73 1.53 Book value of one share, KZT 1,658.99 1,337.0 ---------------------------------------------------------------------------- Audit of consolidated financial statements of the bank and daughter company (hereinafter - Group) for 2003 was conducted by Ernst & Young in compliance with International Standards on Auditing. The bank's financial statement was correspondingly corrected in order to bring it to conformity with international accounting standards. The Group's consolidated financial statements as of December 31 of 2003 comprises financial statements of the bank and its daughter company - Insurance company ATF Policy CJSC (Almaty, insurance), in which the bank maintains100% ownership. In the auditor's opinion the consolidated financial statement exactly in all essential aspects reflects the Group's consolidated financial position as of December 31 of 2003 and about consolidated results of its activity and cash flow for the year, which ended by the mentioned date, in compliance with International Financial Reporting Standards. [2004-04-23]