Results of activity of NEFTEBANK OJSC (Kazakhstan) in 9 months of 2004

/IRBIS, Galina Tsalyuk, October 26, 04/ - NEFTEBANK OJSC (Aktau), whose common shares are circulating in the official "B" listing category of Kazakhstan stock exchange Inc. (KASE), provided KASE with the financial statement for 9 months of 2004. Following indicators are the result of the bank's financial and economic activity for the period, based upon the bank's data (th. KZT, unless otherwise specified): -------------------------------------------------------------------------- as of as of Change, Indicator Oct 1, 03 Oct 1, 04 % ------------------------------------------- --------- --------- ------- Authorized capital (paid-up) 837,567 837,567 0.0 Shareholders' equity (according to balance) 807,179 898,458 +11.3 Book value of assets 2,659,193 3,682,121 +38.5 Liquid assets 321,065 1,004,607 +212.9 Credits granted (net) 1,637,314 1,727,065 +5.5 Total liabilities 1,852,014 2,783,663 +50.3 Deposits placed in the bank 1,417,786 2,364,720 +66.8 Borrowed loans 387,408 336,594 -13.1 Net interest income before reserves 148,935 148,545 -0.3 Net non-interest income n/d 272,877 - General administrative expenses n/d 347,211 - Deductions to reserves 135,365 -109,797 -181.1 Net income (loss) for the period 19,812 138,946 +601.3 Book value of a share, KZT 1,275.83 1,420.11 +11.3 -------------------------------------------------------------------------- N/D (no data) is shown for 9 months of 2003 in order to avoid incorrect information in the bank's financial statement for the mentioned period because of changing of accounting form "Income statement" since January 1, 2004. Relative to similar period of 2003 there is increase of: - shareholders' equity - by KZT91.3 m. because of growth of total sum of undistributed income by 339.9 m. while savings in funds and reserves fell by 248.7 m.; - assets - by KZT1.0 bn. including: sums on correspondent accounts and deposits in other banks - by 559.6 m., residual value of fixed assets - by 110.1 m., net-volume of loan portfolio - by 89.7 m., cash - by 76.1 m. and other assets - by 187.4 m.; - liabilities - by KZT931.6 m. because of growth of the volume of deposits placed in the bank by 946.9 m. and other liabilities - by 35.5 m. while borrowed loans fell by 50.8 m. Net interest incomes fell by KZT390.0 th. in comparison with 9 months of 2003, deductions to reserves - by 245.2 m. Net income, which NEFTEBANK OJSC earned in 9 months of 2004, has exceeded its net income of similar period of 2003 by KZT119.1 m. [2004-10-26]