Results of activity of Eurasian bank JSC (Kazakhstan) in 9 months of 2004

/IRBIS, Galina Tsalyuk, October 22, 04/ - Eurasian bank JSC (Almaty), whose bonds are circulating in the official "A" listing category of Kazakhstan stock exchange Inc. (KASE), provided KASE with financial statement for 9 months of 2004. Following indicators are result of its financial and economic activity in 9 months of 2004, based upon the bank's data (th. KZT): ---------------------------------------------------------------------------- As of As of Change, Indicator Oct 1, 03 Oct 1, 04 % ------------------------------------------- ---------- ---------- ------- Authorized capital (paid) 2,925,311 6,000,017 +106.0 Shareholders' equity (according to balance) 5,050,429 9,730,811 +99.1 Total assets 38,462,235 74,114,345 +93.5 Liquid assets 23,189,367 45,588,070 +95.4 Loans granted (net) 12,788,789 26,969,551 +107.4 Liabilities, total 33,411,806 64,383,534 +92.7 Accounts and deposits 24,936,615 59,823,026 +139.9 Issued bonds - 744,707 - Borrowed loans (excluding bonds) 7,434,365 2,625,108 -64.7 Net interest income before reserves 1,209,710 1,728,197 +65.2 Net non-interest income* n/d 1,059,828 - General administrative expenses* n/d 1,007,742 - Deductions to reserves 670,296 1,089,738 +71.8 Net income for the period 731,384 1,282,404 +136.6 ---------------------------------------------------------------------------- * - for 9 months of 2003 "n/d" (no data) is shown in order not to mispresent information, which is given in the bank's financial statement for the mentioned period in accordance with changing of accounting form "Income statement" since January 1 of 2004. Relative to 9 months of 2003 there is growth of: - shareholders equity (according to balance sheet) - by KZT4.7 bn. as the result of growth of the paid authorized capital by KZT3.1 bn. and undistributed income - by 1.6 bn., whereas reserves on revaluation fell by 69.3 m.; - assets - by KZT35.6 bn., including: net-volume of loan portfolio - by 14.2 bn., securities in bank's portfolio - by 7.0 bn., sums on correspondent accounts and deposits in other banks - by 12.4 bn. and other assets - by 2.0 bn.; - liabilities - by KZT31.0 bn. that was caused by growth of rests on deposit and other accounts by 34.9 bn., other liabilities - by 149.9 m. and floatation of bonds for 744.7 m., whereas volume of borrowed loans (excluding bonds) decreased by 4.8 bn.; - net interest incomes (before deductions to reserves) - by KZT518.5 m.; - deductions to reserves - by KZT419.4 m. Net income, which Eurasian bank JSC received in 9 months of 2004, exceeded the net income of similar period of 2003 by KZT551.0 m. [2004-10-22]