Results of activity of Kazakhstan Mortgage Company JSC (Kazakhstan) in 1st quarter of 2005

/IRBIS, Galina Tsalyuk, April 27, 05/ - Kazakhstan Mortgage Company JSC (Almaty), whose bonds are circulating in the official "A" listing category of Kazakhstan stock exchange Inc. (KASE) provided KASE with financial statements for the first quarter of 2005. Following indicators are the result of the company's financial and economic activity for the period, based upon KMC's data (th. KZT): ---------------------------------------------------------------- as of as of Change, Indicator Apr 1, 04 Apr 1, 05 % ------------------------------- ---------- ---------- ------- Authorized capital (paid-up) 2,500,000 2,500,000 0.0 Shareholders' equity 2,840,393 3,384,277 +19.1 Total assets 14,198,346 32,724,268 +130.5 Liquid assets 2,937,117 3,652,877 +24.4 Mortgage loans 11,227,549 29,001,291 +158.3 Liabilities, total 11,357,953 29,339,991 +158.3 Issued bonds 11,333,497 28,132,719 +148.2 Net interest revenue (loss) 154,377 273,568 +77.2 Net non-interest revenue (loss) (2,311) 19,352 +937.4 General administrative expenses 39,957 91,518 +129.0 Net income for the period 112,109 201,402 +79.6 ---------------------------------------------------------------- Relative to similar period of 1st quarter of 2004 there is increase of: - shareholders' equity - by KZT543.9 bn as a result of increase in total amount of undistributed income by 474.3 m. and reserves - by 69.6 m.; - assets - by KZT18.5 bn, because of growth of mortgage loans volume by 17.8 bn., amounts due from National bank of the Republic of Kazakhstan - by 2.0 bn and other assets- 36.4 bn, whereas the total value of securities in portfolio of the company dipped by KZT1.3 bn.; - liabilities - by 18.0 bn because of growth of floated bonds - 16.8 bn, and fall of other liabilities - 1.2 bn; - net interest revenues - by 119.2 m; - operating expenses - by 51.6 m. Net income earned by Kazakhstan Mortgage Company JSC in the first quarter of 2005 exceeded its net income of similar period of 2004 by KZT 89.3 m. Primary activities - loan operations (giving credits in monetary form on the terms of paying off, urgency and giving back), factoring operations (purchasing of rights of payment requirement from consumer of goods (works, services) with assumption of the risk of non-payment). [2005-04-27]