Results of activity of Kazkommertsbank JSC (Kazakhstan) in the I quarter of 2005

/IRBIS, Galina Tsalyuk, May 12, 05/ - Kazkommertsbank JSC (Almaty), whose securities are circulating in the official "A" listing category of Kazakhstan stock exchange Inc. (KASE), provided KASE with the financial statement (non-consolidated) for the I quarter of 2005. Following indicators are result of bank's financial and economic activity in the I quarter of 2005, based upon bank's data (th. KZT, unless otherwise specified): ----------------------------------------------------------------------------- as of as of Change, Index Apr 1, 04 Apr 1, 05 % --------------------------------------------- ----------- ----------- ------- Authorized capital (paid excluding withdrawn) 4,019,045 4,188,831 +4.2 Shareholders' equity 47,593,526 62,623,689 +31.6 Total assets 443,542,411 678,761,145 +53.0 Liquid assets 132,424,886 164,482,206 +24.2 Credits granted (net) 302,400,058 498,855,210 +65.0 Liabilities, total 395,948,885 616,137,456 +55.6 Accounts and deposits 321,054,253 527,741,238 +64.4 Borrowed loans (excluding bonds) 50,737,115 44,229,627 -12.8 Liabilities on bonds 11,763,580 29,161,716 +147.9 Net interest income before reserves 6,848,495 9,879,963 +44.3 Net non-interest income 1,532,860 1,091,325 -28.8 Operational expenses 1,562,255 2,193,389 +40.4 Deductions to reserves 3,092,673 1,185,971 -61.7 Net income for the period 2,628,519 5,431,717 +106.6 Book value of one share, KZT 118.42 149.50 +26.2 ----------------------------------------------------------------------------- Relative to the I quarter of 2004 there is growth of: - shareholders' equity - by KZT15.0 bn. due to growth of undistributed income and reserves by 12.7 bn., additional capital - by 2.2 bn. and paid authorized capital - by 169.8 m.; - assets - by KZT235.2 bn., including: net-volume of loan portfolio - by 196.4 bn., funds placed in other banks - by 24.1 bn., securities in the bank's portfolio (including securities purchased on reverse repo transactions) - by 10.1 bn. and other assets - by 4.5 bn.; - liabilities - by KZT220.2 bn. due to growth of rests on deposit and other accounts by 206.7 bn., liabilities on bonds - by 17.4 bn. and other liabilities - by 2.6 bn., while borrowed loans volume (excluding bonds) fell by 6.5 bn.; - net interest income before deductions to reserves - by KZT3.0 bn.; - operational expenses - by KZT631.1 m. Net non-interest income decreased by KZT441.5 m. in comparison with the I quarter of 2004, deductions to reserves - by KZT1.9 bn. Net income, which Kazkommertsbank JSC earned in the I quarter of 2005 exceeded its net income of similar period of 2004 by KZT2.8 bn. [2005-05-12]