Results of activity of NEFTEBANK JSC (Kazakhstan) in 2004

/IRBIS, Galina Tsalyuk, March 24, 05/ - NEFTEBANK JSC (Aktau), whose shares are circulating in the official "B" listing category of Kazakhstan stock exchange Inc. (KASE), provided KASE with non-audited financial statement for 2004. Following indicators are the result of the bank's financial and economic activity for 2004, based upon bank's data (th. KZT, unless otherwise specified): -------------------------------------------------------------------------- as of as of Change, Indicator Jan 1, 04 Jan 1, 05 % ------------------------------------------- --------- --------- ------- Authorized capital (paid-up) 835,757 1,321,000 +58.1 Shareholders' equity 913,606 1,336,990 +46.3 Book value of assets 3,535,625 3,522,527 -0.4 Liquid assets 1,038,589 978,274 -5.8 Credits granted (net) 1,702,302 1,921,789 +12.9 Total liabilities 2,622,019 2,185,537 -16.6 Deposits placed in the bank 2,195,845 1,814,556 -17.4 Borrowed loans 368,110 325,834 -11.5 Net interest income before reserves 125,970 162,594 +29.1 Net non-interest income 300,688 344,816 +14.7 Operational expenses 302,098 249,544 -17.4 Deductions to reserves (reserves restoring) (14,496) (89,816) +519.6 Net income for the period 126,239 48,259 -61.8 ------------------------------------------- --------- --------- ------- Calculated by bank's data: ------------------------------------------- --------- --------- ------- Return on equity (ROE), % 13.82 3.61 -73.9 Return on assets (ROA), % 3.57 1.37 -61.6 Earnings per share (EPS), KZT 199.53 48.26 -75.8 Book value of a share, KZT 1,444.05 1,336.99 -7.4 -------------------------------------------------------------------------- Calculation of price earning ratio (P/E) is not given because only direct deals, which are not market deals, were made in bank's shares in the mentioned years. Relative to 2003 there are following changes: - shareholders' equity grew by KZT423.4 m. because of growth of authorized capital by 485.2 m. and falling of total sum of uncovered loss by 142.0 m. while reserves fell by 203.9 m.; - assets fell by KZT13.1 m. because of falling of rests on deposit and other accounts in other banks by 476.5 m. and other assets - by 212.0 m., that was partially covered by growth of the volume of securities in bank's portfolio by 456.0 m. and loan portfolio - by 219.5 m.; - liabilities fell by KZT436.5 m. including: rests on deposit and other accounts of clients - by 381.3 m., borrowed loans volume - by 42.3 m. and other liabilities - by 12.9 m.; - net interest income before deductions to reserves grew by KZT36.6 m.; - net non-interest income grew by KZT44.1 m.; - operational expenses fell by KZT52.5 m.; - amount of restored reserves grew by KZT75.3 m. Net income, which bank earned in 2004, is less than its net income of year 2003 by KZT78.0 m. [2005-03-24]