Results of activity of Kazakhstan Mortgage Company JSC (Kazakhstan) in 2004

/IRBIS, Galina Tsalyuk, March 19, 05/ - Kazakhstan Mortgage Company JSC (Almaty), whose bonds are circulating in the official "A" listing category of Kazakhstan stock exchange Inc. (KASE) provided KASE with non-audited financial statement for 2004. Following indicators are result of company's financial and economic activity in 2004, based upon company's data (th. KZT, unless otherwise specified): ---------------------------------------------------------------- as of as of Change, Indicator Jan 1, 04 Jan 1, 05 % ------------------------------- ---------- ---------- ------- Authorized capital (paid) 2,500,000 2,500,000 0.0 Shareholders' equity 2,759,480 3,113,285 +12.8 Total assets 10,068,410 29,392,970 +191.9 Liquid assets 1,858,809 3,023,094 +62.6 Mortgage loans 8,178,255 26,298,757 +221.6 Liabilities, total 7,308,930 26,279,685 +259.6 Issued bonds 7,269,364 25,689,086 +253.4 Net interest income 235,688 598,402 +153.9 Net non-interest income 33,194 3,119 -90.6 General administrative expenses 84,034 175,474 +108.8 Net income for the period 142,777 353,805 +147.8 ------------------------------- ---------- ---------- ------- Calculated by company's data: ------------------------------- ---------- ---------- ------- Return on assets (ROA), % 1.42 1.20 -15.1 Return on equity (ROE), % 5.17 11.36 +119.6 ---------------------------------------------------------------- Relative to 2003 there is increase of: - shareholders' equity - by KZT353.8 m. due to growth of total sum of undistributed income by 211.0 m. and reserve capital - by 142.8 m.; - assets - by KZT19.3 bn., including: mortgage loans volume - by 18.1 bn., securities portfolio - by 1.2 bn. and other assets - by 40.2 m.; - liabilities - by KZT19.0 bn. because of growth of floated bonds volume by 18.4 bn. and other liabilities - by 551.0 m.; - net interest incomes - by KZT362.7 m.; - general administrative expenses - by KZT91.4 m. Company's net non-interest incomes have fallen by KZT30.1 m. in comparison with year 2003. Net income earned by the company in 2004 exceeded its net income of year 2003 by KZT211.0 m. Primary activities - loan operations (giving credits in monetary form on the terms of paying off, urgency and giving back), factoring operations (purchasing of rights of payment requirement from consumer of goods (works, services) with assumption of the risk of non-payment). [2005-03-19]