Auditor's report on financial statement of Eurasian bank JSC (Kazakhstan) for 2004

/IRBIS, Galina Tsalyuk, October 5, 05/ - Eurasian bank JSC (Almaty, hereinafter - bank), whose bonds are circulating in Kazakhstan stock exchange's (KASE) official "A" listing category, has presented KASE auditor's report of Deloitte & Touche (Almaty) on bank's financial statement for 2004, prepared in compliance with International Financial Reporting Standards (IFRS). According to the auditor's data, result of the bank's financial and economic activity as on December 31, 2004 is as follows (in th. KZT, unless otherwise indicated): ------------------------------------------------------------------------- December 31, 03 December 31, 04 Indicator --------------------------------------- --------------- --------------- Authorized capital (paid) 6,000,017 6,000,017 Shareholders' equity 8,461,110 10,024,989 Total assets 50,415,600 78,019,950 Sum of liquid assets 34,454,011 44,819,115 Offerings and advances to clients (net) 15,468,757 32,058,002 Offerings and loans to banks (net) 11,995,560 7,825,221 Liabilities, total 41,954,490 67,994,961 Amounts due to banks 6,132,246 5,520,711 Amounts due to clients 28,562,964 51,981,045 Issued bonds in circulation 726,991 3,689,319 Securities, sold on repo operations 6,445,279 6,712,406 Net interest income (before reserves) 1,572,290 2,415,964 Reserves for losses on loans 501,204 735,146 Net non-interest income 1,382,206 1,797,129 Operational costs 1,318,903 1,771,589 Net income 1,017,704 1,563,879 ------------------------------------------------------------------------- Calculated according to the auditor's data: ------------------------------------------------------------------------- Return on equity (ROE), % 12.03 3.49 Return on assets (ROA), % 2.02 2.00 ------------------------------------------------------------------------- Audit was performed by Deloitte & Touche in compliance with international auditing standards. In the opinion of Deloitte & Touche, financial statements exactly in all significant aspects reflects financial position of the bank as of December 31, 2004, and also results of its activity and cash flow for the year, ended on the above date, in compliance with IFRS. [2005-10-05]