/IRBIS, Galina Tsalyuk, April 12, 05/ - Valut Transit Bank JSC (Karaganda, the Bank), whose securities are circulating in the official "A" listing category of Kazakhstan stock exchange Inc. (KASE), provided KASE with the financial statements for 2004.

Following indicators are result of the bank's financial and economic activity in 2004, based upon the bank's data (th. KZT, unless otherwise specified):

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                                                 as of       as of  Change,
Index                                        Jan 1, 04   Jan 1, 05        %
------------------------------------------  ----------  ----------  -------
Authorized capital (paid-up)                 3,109,730   7,580,221   +143.8
Shareholders' equity (acc-ing. to balance)   5,429,518  10,319,096    +90.1
Total assets                                31,562,496  50,035,583    +58.5
Liquid assets                               10,125,075  15,752,765    +55.6
Credits granted (net)                       18,106,761  27,899,947    +54.1
Liabilities, total                          26,132,978  39,716,177    +52.0
Accounts and deposits                       23,469,707  33,914,883    +44.5
Borrowed loans (excluding bonds)               682,237   2,988,993   +338.1
Issued bonds                                 1,477,461   1,866,957    +26.4
Net interest income before reserves          1,359,583   1,779,568    +30.9
Net non-interest income                      2,173,090   3,574,980    +64.5
General administrative expenses              1,933,726   3,015,378    +55.9
Deductions to reserves                       (152,893)     118,914        -
Net income for the period                      724,243   1,100,701    +52.0
------------------------------------------  ----------  ----------  -------
Following was calculated                                                   
based on bank's data:
------------------------------------------  ----------  ----------  -------
Return on equity (ROE), %                        13.34       10.67    -20.0
Return on assets (ROA), %                         2.29        2.20     -4.1
Earnings per share (EPS), KZT*                   60.80       37.60    -38.2
Price/Earnings ratio (P/E)*                       5.71        8.51    +49.0
Book value of one share, KZT                    305.89      332.27     +8.6
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* Earning per share (EPS) and Price-Earnings (P/E) ratio for 2004 were
  calculates based on dividend amount paid on preferred shares for three
  quarters of the mentioned year.

Relative to 2003 there is increase of:

• shareholders' equity (according to balance sheet) - by KZT4.9 bn. as the result of increase of paid authorized capital by 4.5 bn,: additional capital - 500 m, total sum of undistributed income - by 376.5 bn., which was partially offset by decrease in accumulations in funds and reserves by 457.3 m.;
• assets - by KZT18.5 bn., including net volume of loan portfolio - by 9.8 bn., securities in bank's portfolio - 2.0 bn. net fixed assets - by 1.8 bn., amount in correspondent accounts and deposits in other banks - by 2.1 bn. and other assets - by 2.7 bn.;
• liabilities - by KZT13.6 bn. of them: rests on deposit and other accounts - by 10.4 bn., attracted funds (excl bonds) - by 2.3 bn and other liabilities - by 831.3 m.;
• net interest income before provisioning - by KZT420.0 m.;
• net non-interest incomes - by 1.4 bn
• operational expenses - by 1.1 bn.;

Net income earned by Valut Transit Bank JSC in 2004 exceeded its net income of 2004 by KZT376.4 bn.

[2005-04-12]