/IRBIS, Galina Tsalyuk, June 14, 04/ - BTA Ipoteka JSC (Almaty), whose securities are circulating in the official "B" listing category of Kazakhstan stock exchange Inc. (KASE), provided KASE with the financial statement for the I quarter of 2004.

Following indicators are result of the bank's financial and economic activity in the I quarter of 2004, based upon the bank's information (th. KZT, unless otherwise specified):

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                                                 As of     As of
Indicator                                    Apr 1, 03 Apr 1, 04 Change,%
-------------------------------------------- --------- --------- --------
Authorized capital (paid)                       40,000    40,000      0.0
Shareholders' equity (ac-g to balance sheet)   132,078   368,922   +179.3
Total assets                                 1,976,135 5,909,855   +199.1
Loans and financial rent (net)               1,885,177 5,529,389   +193.3
Total liabilities                            1,821,934 5,492,126   +201.4
Borrowed loans (excluding bonds)             1,789,317 5,099,696   +185.0
Issued bonds                                         -   391,000        -
Net interest income before reserves             36,268   142,543   +293.0
Net non-interest income                         37,464    76,409   +104.0
General administrative expenses                 14,283    37,095   +159.7
Deductions to reserves                           7,000    62,263   +789.5
Net income for the period                       43,411    92,964   +114.1
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Relative to similar period of 2003 there in increase of:

• shareholders' equity - by 236.8 m. as the result of increase of reserve capital - 187.3 m and total sum of undistributed income - by 49.5 m.;
• assets - by 3.9 bn., including: net-volume of loan portfolio - by 3.6 bn., funds in the National Bank - by 225.4 m and other assets - by 63.3 m;
• liabilities - by 3.7 bn., of them: attracted loans - by 3.3 bn. bonds - by 391.0 m. and fall in other liabilities - by 31.2 m.;
• net interest incomes - by KZT106.3 m.;
• net non-interest incomes - by KZT38.9 m.;
• general administrative expenses - by KZT22.8 m.;
• deductions to reserves - by KZT55.3 m.

Net income, the Company received in the I quarter of 2004, exceeded net income of similar period of 2003 by KZT49.5 m.

Primary activities - retail mortgage financing, construction and consulting.

[2004-06-14]