Auditors' report on financial statements of JB LARIBA BANK JSC (Kazakhstan) for 2004

/IRBIS, Galina Tsalyuk, April 19, 05/ - JB LARIBA BANK JSC (Almaty), whose bonds are circulating in Kazakhstan stock exchange's (KASE) official "B" listing category, has presented to KASE auditor's report of KPMG Janat (Almaty) made on bank's financial statement for year 2004, prepared in compliance with International Accounting Standards. According to the auditor's data, following indexes are result of bank's financial and economic activity in 2004 (th. KZT, unless otherwise specified): ------------------------------------------------------------- as of as of Indicator Dec 31, 03 Dec 31, 04 ------------------------------------- ---------- ---------- Authorized capital (paid) 1,000,000 1,000,000 Shareholders equity 1,324,494 1,521,079 Total assets 2,240,577 3,168,463 Total liquid assets 418,793 1,100,800 Floatations and loans to banks (net) 154,374 179,525 Loans to clients (net) 1,575,778 1,767,572 Indebtedness to banks 11,134 13,196 Indebtedness to clients 777,338 1,564,658 Liabilities on bonds 74,250 48,424 Net interest income (before reserves) 271,703 310,992 Net commission income 95,273 122,775 Other non-interest income 74 920 78,558 Operational expenses 219,089 274,144 Net profit 214,027 194,583 ------------------------------------- ---------- ---------- Calculated by audited statement: ------------------------------------- ---------- ---------- Return on equity (ROE), % 16.16 12.79 Return on assets (ROA), % 9.55 6.14 ------------------------------------------------------------- Audit of bank's financial statement was made by KPMG Janat in compliance with international auditing standards. In the opinion of KPMG Janat, the financial statement exactly in all essential aspects reflects bank's financial position as of December 31 of 2004, as well as results of its activity and cash flow for the year, which ended by the mentioned date, in compliance with IAS. [2005-04-19]