Alliance Bank JSC (Kazakhstan) updated on Jan-Feb 05 results, plans to attract additional investments

/IRBIS, Zaure Esimova, March 9, 05/ - Alliance Bank JSC (Almaty, the Bank) with securities traded under official "A" listing category of Kazakhstan Stock Exchange JSC (KASE), released an official statement today updating on results of Jan-Feb 05 period. According to the information contained in the announcement at March 1, 2005 the Bank assets of KZT133.2 bn ($1 bn), liabilities of KZT116.7 bn ($898 m), shareholders equity of KZT16.4 bn ($126 m), net income of KZT85.9 m ($661.2 th). The Bank informs that at prescheduled shareholders meeting that took place on February 2005 the plan for borrowings was approved. The program provides for KZT65 bn ($500 m) attraction in foreign capital markets and medium term note program for a total KZT40 bn ($308 m). This will constitute a 10-times increase in Bank's liabilities compared to 3 past years when total borrowings amounted $50 m. Under the program it is plan to place bonds for KZT5 bn, as well as mortgage bonds for a total KT1 bn. Shareholders also approved the Bank's plan for capitalization in 2005-2008. The Bank plans to raise the authorized capital by $100 m annually in tenge equivalent. As of January 1, 2005 this constituted to KZT15.1 bn. The Bank also set a dividend size per one preferred share which is KZT1,000 now. [2005-03-09]