Results of activity of NURBANK OJSC (Kazakhstan) in the first six months of 2004

/IRBIS, Galina Tsalyuk, August 31, 04/ - NURBANK OJSC (Almaty), whose securities are circulating in the official "A" listing category of Kazakhstan stock exchange Inc., provided KASE with consolidated financial statements for the first six months of 2004. Following indicators are the result of the bank's financial and economic activity in the reported period, based upon the bank's data (th. KZT, unless otherwise specified): -------------------------------------------------------------------------- as of as of Change, Index Jul 1, 03 Jul 1, 04 % ----------------------------------------- ---------- ---------- ------- Authorized capital (paid) 3,000,000 3,465,200 +15.5 Shareholders' equity (acc-ing. to balance 6,825,833 7,978,676 +16.9 sheet) Total assets 40,226,716 81,140,550 +101.7 Liquid assets 16,337,268 18,172,248 +11.2 Credits granted (net) 21,219,714 58,328,260 +174.9 Liabilities, total 33,400,883 73,161,874 +119.0 Accounts and deposits 23,833,843 42,045,872 +76.4 Borrowed loans (excluding bonds) 3,309,247 20,931,395 +532.5 Bonds obligations 1,444,879 5,877,119 +306.8 Net interest income (loss) 1,181,124 2,128,282 +80.2 Net non-interest income (loss) n/a 1,903,031 - Deductions to reserves 1,030,345 982,637 -4.6 Net income 1,208,609 889,528 -26.4 Book value per share, KZT 22,752.78 23,025.82 +1.2 -------------------------------------------------------------------------- * - N/A is set for data subjected to a change according to modification of financial reporting standards (Income and loss statement). Relative to similar period of 2003 there is increase of: - shareholders' equity of the bank (according to balance) - by KZT 1.1 bn. as the result of increase of paid part of authorized capital by 465.2 m., accumulations at funds and reserves - by 1.1 bn; and decrease of retained earnings - by KZT 319.0 m; - assets - by KZT 40.9 bn., including: net-volume of loan portfolio - by 37.1 bn.; accounts and deposits in banks by 3.1 bn; other assets by 2.2 bn; securities within bank's portfolio decreased by 1.5 bn; - liabilities - by KZT 39.8 bn., accounts and deposits - 18.2 bn, bonds floated by 4.4 bn, loans attracted by 17.6 bn that was partially offset by decrease in other liabilities by 505.4 m; - net interest incomes - KZT 947.1 m.; Allowance for doubtful accounts was reduced in first six months by KZT 47.7 m relative to Q1 2003. Net income NURBANK OJSC received in first six months of 2004 fell by KZT 319.1 m compared to similar period of 2003. [2004-08-31]