Auditor's report on financial statements of BANK CASPIAN JSC (Kazakhstan) for 2004

/IRBIS, Galina Tsalyuk, April 27, 05/ - BANK CASPIAN JSC (Almaty), whose securities are circulating in Kazakhstan stock exchange's (KASE) "А" listing category, has presented KASE auditor's report made by Deloitte & Touche LLP (Almaty, Kazakhstan), which had been made on the bank's consolidated financial statements for 2004, prepared in compliance with international financial reporting standards (IFRS). Result of the bank's consolidated financial and economic activity as of December 31 of 2003 is presented by the following indexes, in accordance with the auditor's data (in th. KZT, unless otherwise specified): ------------------------------------------------------------------------- as of as of Indicator Dec 31, 03 Dec 31, 04 ------------------------------------------------- ---------- ---------- Issued (paid) authorized capital 3,699,975 5,772,295 Shareholders' equity 5,723,153 9,597,910 Total assets 54,735,800 79,758,766 Sum of liquid assets 16,381,924 26,007,605 Loans to clients (net) 35,459,390 49,431,820 Liabilities, total 49,012,647 70,160,856 Amounts due to clients 30,022,490 31,695,136 Attracted loans 8,972,711 20,387,488 Issued bonds 9,300,152 17,202,033 Net interest income before provisioning 2,475,478 4,893,778 Commissions and fees 1,098,241 1,262,291 Non-interest income 247,398 749,178 Non-interest expense 2,065,176 2,917,381 Provisions 855,741 1,876,951 Net income 841,601 1,777,662 Basic earnings per share, KZT 122.87 191.72 Diluted EPS, KZT 134.49 191.72 ------------------------------------------------- ---------- ---------- It's been calculated according to auditor's data: ------------------------------------------------- ---------- ---------- Return on assets (ROA), % 1.54 2.23 Price-Earnings (P/E) ratio 14.71 18.52 Return on equity (ROE), % 1.87 1.12 Book value of one share, KZT 616.83 815.41 ------------------------------------------------------------------------- Audit of consolidated financial statement of the bank and daughter companies (hereinafter - Group) for 2004 was conducted by Deloitte in compliance with international auditing standards. In its report Deloitte & Touche noted that Ernst & Young performed auditors report on Bank's financial statements for 2003 without any comments. The Group's consolidated financial statement for 2004 comprised financial statement of daughter company Almaty International insurance company OJSC (Almaty, insuring activity), in which the bank owns 100% of issued shares. In the auditor's opinion the consolidated financial statement exactly in all essential aspects reflects the Group's financial condition as of December 31 of 2004 and also results of financial and economic activity and cash flow in the reporting years, which ended by the mentioned dates in compliance with international accounting standards. [2005-04-28]