/IRBIS, Galina Tsalyuk, April 22, 05/ - Halyk savings bank of Kazakhstan JSC (Almaty), whose securities are circulating in Kazakhstan stock exchange's (KASE) official "А" listing category, presented KASE auditors' report conducted by Ernst & Young (Almaty) on bank's financial statements for 2004, prepared to International Financial Reporting Standards.

According to the auditor's data, the following describes bank's position and financial results as of December 31 of 2004 (in m. KZT, unless otherwise specified):

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Index                                                     as of       as of
                                                      Dec 31, 03  Dec 31, 04
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Issued authorized capital (paid excluding withdrawn)   9,881,061  15,742,686
Shareholders equity                                   21,238,258  35,036,024
Total assets                                         249,523,242 393,253,900
Total current assets                                  75,507,686 124,397,799
Amounts due from banks                                 7,290,929     695,379
Loans and advances to clients (net)                  163,888,497 254,590,193
Liabilities, total                                   228,081,728 358,000,847
Demand and time deposits                             154,845,698 231,501,361
Deposits from banks and financial organizations       62,405,064  76,963,571
Issued bonds                                           8,582,604  44,939,974
Net interest income before provisions                 15,013,040  20,191,300
Commissions and fees (net)                             6,563,781   9,318,421
Operating income                                       2,818,562   3,064,751
Operating expenses                                    10,602,525  13,542,933
Provisions                                             5,521,209   8,940,724
Net income                                             7,460,278   8,088,143
Basic and diluted earnings per share, KZT*                 75.68       79.21
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It's been calculated according to auditor's data:
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Return on equity (ROE), %                                  35.13       23.09
Return on assets (ROA), %                                   2.99        2.06
Book value of one share, KZT                              214.94      313.09
Price earnings ratio (P/E)                                  1.59        1.39
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* - as per auditor's data.

Auditing of the bank's and its daughter companies (the Group) financial statement was conducted by Ernst & Young in compliance with international standards on auditing.

The consolidated financial statements of the Group include financial statements of the following daughter companies, in which the Bank possesses 100% ownership: Halyk Leasing CJSC (Almaty, leasing), Kazteleport CJSC (Almaty, telecommunications services), Halyk Finance (Almaty, brokerage-dealer services, 100%), Accumulative pension fund of the Halyk Bank of Kazakhstan JSC (Almaty, pensions collection and investment management); Khelbny AKB (Tchelyabinsk, Russia, 76.88%), Halyk Bank OJSC (Bishkek, Kyrgyz Republic, 100%), Agency for investment return research LLP (Almaty, research activities) and HSBK (Europe) B.V. (Amsterdam, the Netherlands, financial services).

In opinion of Ernst & Young, the financial statements exactly in all significant aspects reflect the Group's financial position as of December 31 of 2004, and consolidated results of its financial and economic activity and cash flow for the year ended as of mentioned date in compliance with international accounting standards.

[2005-04-22]