Alliance Bank JSC awarded as fastest growing bank in CIS and Central Europe - The Banker

/IRBIS, Assel Omarova, January 31, 05/ - Alliance Bank JSC (Almaty), with shares and bonds traded under the official "A" listing category of Kazakhstan Stock Exchange (KASE), released the announcement informing it has been named as fastest growing emerging market bank by the finance magazine the Banker. The list consisting of 49 other banks includes 3 banks from Kazakhstan (apart from Alliance Bank), eight banks from Byelorussia, and 5 banks from the Ukraine. In total 377 banks were taken into consideration. In order to analyze the growth rate of each bank the Banker considered the percentage change of tier 1 capital, assets and pretax profit for 2003 financial year. The Banker experts analyzed same changes from 2002 to 2001 figures. All percentage changes were calculated based on relevant exchange rates excluding forex effect. The rating procedure is basically the same as for the Bankers' Top 1000 banks. The condition is judged from financial statements that banks report along with any consolidation effect. As per announcement of Alliance Bank JSC total assets as of 2003 year-end amounted to KZT120.3 bn, 14.7 times higher than in 2002. For the past three years liabilities grew 15 times: from KZT6.9 bn (2001) to KZT104 bn (2003). In November 2004 international ratings agency Moody's Investors Service changed the outlook on LT FC deposit rating and financial stabiltiy rating from stable' to 'positive'. [2005-01-31]