Results of activity of Valut Transit Bank JSC (Kazakhstan) in 2004

/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): --------------------------------------------------------------------------- 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 --------------------------------------------------------------------------- * 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]