Results of activity of Kazkommertsbank JSC (Kazakhstan) in the first quarter of 2004

/IRBIS, Galina Tsalyuk, June 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 the first quarter of 2003. Following indicators are the result of the bank's financial and economic activity in the Q1 2004, based upon the bank's data (th. KZT, unless otherwise specified): ------------------------------------------------------------------- as of as of Change, Index Apr 1, 03 Apr 1, 04 % -------------------------------- ----------- ----------- ------- Authorized capital (paid excluding withdrawn) 3,499,833 4,019,045 +14.8 Shareholders' equity (acc-ing. to balance sheet) 27,304,126 47,593,526 +74.3 Total assets 286,037,261 443,542,411 +55.1 Liquid assets 97,745,821 132,424,886 +35.5 Credits granted (net) 162,414,732 302,400,058 +86.2 Liabilities, total 258,733,135 395,948,885 +53.0 Accounts and deposits 199,975,787 321,054,253 +60.5 Borrowed loans (excluding bonds) 36,975,457 62,500,695 +69.0 Issued bonds 3,792,256 6,848,619 +80.6 Net interest income (loss) 1,076,999 1,241,761 +15.3 Net non-interest income (loss) 1,360,504 1,327,900 -2.4 Deductions to reserves 783,500 3,093,969 +294.9 Net income 2,385,192 2,337,145 -2.0 Book value of one share, KZT 78.02 118.42 +51.8 ------------------------------------------------------------------- Relative to Q1 2003 there is increase of: - shareholders' equity (according to balance sheet) - by 20.3 bn. as the result of increase of the paid up authorized capital by 519.2 m, additional capital - 4.0 bn, reserve and funds accumulation - by 1.5 bn, total sum of undistributed income - by 14.3 bn.; - assets - by 157.5 bn, including: net-volume of loan portfolio - by 140.0 bn., securities in the bank's portfolio - by 26.4 bn, amounts on correspondent accounts and deposits in other banks - by 6.4 bn, and decrease of other assets - by 15.3 bn; - liabilities - by KZT137.2 bn. of them: accounts and deposits - by 121.1 bn, attracted loans (including issued bonds) - 25.5 bn., and decrease other liabilities - by 9.4 bn; - net interest income - 3.1 bn; - net non interest income - 164.8 m; - deductions to reserves - by 2.3 bn; Net income earned by Kazkommertsbank JSC according to results of Q1 2004 exceeded net income of the first quarter in 2003 by KZT48.0 m. [2004-06-08]