Results of activity of TEMIRBANK JSC (Kazakhstan) in 2003

/IRBIS, Galina Tsalyuk, May 4, 04/ - TEMIRBANK JSC (Almaty), whose securities are circulating in Kazakhstan stock exchange's (KASE) official "A" listing category, provided KASE with the financial statements 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-up) 1,900,000 3,077,500 +62.0 Shareholders' equity (acc-ing. to balance sheet) 2,930,735 4,407,616 +50.4 Total assets 22,891,880 28,837,923 +26.0 Liquid assets 6,125,046 8,601,445 +40.4 Credits granted (net) 14,940,338 17,628,049 +18.0 Liabilities, total 19,961,145 24,430,307 +22.4 Accounts and deposits 13,041,295 14,421,590 +10.6 Borrowed loans 5,059,821 7,594,429 +50.1 Issued bonds 1,722,843 2,035,282 +18.1 Net interest income (loss) 1,596,659 1,487,263 -6.9 Net non-interest income (loss) 1,408,433 1,675,479 +19.0 General and administrative expenses 1,860,617 2,141,961 +15.1 Deductions to reserves 269,443 360,568 +33.8 Net income 281,405 308,549 +9.6 ----------------------------------- ---------- ---------- ------- Calculated by issuer's data: ----------------------------------- ---------- ---------- ------- Return on equity (ROE), % 9.60 7.00 -27.1 Return on assets (ROA), % 1.23 1.07 -13.0 Earnings per share (EPS), KZT* 148.84 100.59 -32.4 Price earning ratio (Р/Е)* 6.72 10.09 +50.2 Book value of one share, KZT 1,542.49 1,432.21 -7.1 -------------------------------------------------------------------- * - Earnings per share (EPS) and price earning ratio (P/E) as of January 1 of 2004 have been calculated without dividends on privileged shares. Relative to 2002 there is increase of (in tenge): - shareholders' equity (according to balance sheet) - by 1.5 bn. as the result of increase of the paid part of authorized capital by 1.2 bn. (floatation of the 11th issue shares), total sum of undistributed income - by 303.5 m., decline in revaluation reserves - by 4.2 m; - assets - by 5.9 bn., including: net-volume of loan portfolio - by 2.7 bn., securities in the bank's portfolio - by 1.6 bn., amounts on correspondent accounts and deposits in other banks - by 901.7 m. and other assets - by 708.9m.; - liabilities - by 4.5 bn. of them: accounts and deposits - by 1.4 bn., attracted loans - 2.5 bn, floated bonds - by 312.4m, and other liabilities - by 241.8 m; - net non-interest incomes - by 267.1 m.; - general and administrative expenses - by 281.3 m.; - deductions to reserves - by 91.1 m. Net interest income declined by 109.4 m. Net consolidated income, which TEMIRBANK OJSC received according to results of 2003, exceeded net income of the year 2002 by 27.1 m. [2004-05-04]