/IRBIS, Galina Tsalyuk, August 19, 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 six months of 2004.

Following indicators are the result of the bank's financial and economic activity in first six months of 2004, based upon the bank's data (th. KZT, unless otherwise specified):

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                                        as of        as of  Change,
Index                               Jul 1, 03    Jul 1, 04        %
--------------------------------  -----------  -----------  -------
Authorized capital (paid-up)        3,499,833    4,019,045    +14.8
Shareholders' equity
(acc-ing. to balance sheet)        36,578,852   50,772,724    +38.8
Total assets                      367,152,015  498,589,669    +35.8
Liquid assets                     160,080,370  124,684,967    -22.1
Credits granted (net)             193,389,252  361,243,243    +86.8
Liabilities, total                330,573,163  447,816,945    +35.5
Accounts and deposits             277,645,700  374,210,908    +34.8
Borrowed loans (including bonds)   41,424,768   64,109,362    +54.8
Net interest income (loss)          8,582,813   13,994,499    +63.1
Net non-interest income (loss)      2,839,975    1,930,671    -32.0
General administrative expenses     2,408,155    2,784,013    +15.6
Deductions to reserves              3,554,543    4,934,550    +38.8
Net income                          4,313,194    5,264,404    +22.1
Book value of one share, KZT           104.52       126.33    +20.9
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Relative to 6-month of 2003 there is increase of:

• shareholders' equity (according to balance sheet) - by 14.2 bn. as the result of increase of the paid up authorized capital by 519.2 m, additional capital - 4.0 bn, and retained earning - by 9.6 bn.;
• assets - by 131.4 bn, including: net-volume of loan portfolio - by 167.8 bn, and cash currency - 3.1 bn, while following items decreased: amounts on correspondent accounts and deposits in other banks - 35.5 bn, securities in the bank's portfolio - by 3.0 bn, and other assets - by 1.0 bn;
• liabilities - by KZT117.2 bn. of them: accounts and deposits - by 96.6 bn, attracted loans (including issued bonds) - 22.7 bn., and decrease of other liabilities - by 2.0 bn;
• net interest income - 5.4 bn;
• general administrative expenses - 375.8 m;
• deductions to reserves - by 1.4 bn;

Non-interest income decreased by 909.3 m.

Net income earned by Kazkommertsbank JSC according to results of first six months of 2004 exceeded net income of the similar period of 2003 by KZT 951.2 m.

[2004-08-19]