EB_2004-1 - EURASIAN BANK JSC Financial Statements For the...

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EURASIAN BANK JSC Financial Statements For the Year Ended 31 December 2004 And Independent Auditors’ Report
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EURASIAN BANK JSC TABLE OF CONTENTS Page INDEPENDENT AUDITORS’ REPORT 1 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2004: Profit and Loss Account 2 Balance Sheet 3 Statement of Changes in Shareholders’ Equity 4 Statement of Cash Flows 5-6 Notes to the Financial Statements 7-35
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EURASIAN BANK JSC PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2004 2 NOTES Year ended 2004 KTZ’000 Year ended 2003 KTZ’000 Interest income 4,26 4,034,628 2,405,298 Interest expenses 4,26 (1,618,664) (833,008) NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES 2,415,964 1,572,290 Provision for loan losses 5 (719,718) (514,376) NET INTEREST INCOME 1,696,246 1,057,914 Net gain on foreign exchange operations 6 895,255 323,827 Fee and commission income 7,26 1,072,319 809,787 Fee and commission expense (131,794) (55,579) Net (loss)/gain on investment securities 8 (153,231) 169,302 Other income 9 114,580 134,869 NET NON-INTEREST INCOME 1,797,129 1,382,206 OPERATING INCOME 3,493,375 2,440,120 OPERATING EXPENSES 10,26 (1,771,589) (1,318,903) PROFIT BEFORE OTHER PROVISIONS AND INCOME TAX 1,721,786 1,121,217 Recovery of provision / (provision) for impairment of securities held-to- maturity 5 704 (7,144) Recovery of provision / (provision) for losses on other transactions 5 15,428 (13,172) PROFIT BEFORE INCOME TAX 1,737,918 1,100,901 Income tax expense 11 (174,039) (83,197) NET PROFIT 1,563,879 1,017,704 On behalf of the Management Board: ___________________________ ____________________________ Chairman Chief Accountant 26 January 2005 26 January 2005 A l m a t y A l m a t y The notes on pages 7 to 35 form an integral part of these financial statements. The Independent Auditors' Report is presented on page 1. .
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EURASIAN BANK JSC BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2004 3 NOTES 2004 KTZ’000 2003 KTZ’000 ASSETS: Cash and balances with the National Bank of the Republic of Kazakhstan 12 3,398,466 1,743,835 Loans and advances to banks, less allowance for loan losses 13 7,825,221 11,995,560 Securities purchased under agreements to resell 14 6,970,359 - Derivative financial instruments 15,26 - 179,380 Loans and advances to customers, less allowance for loan losses 16,26 32,058,002 15,468,757 Investment securities: - securities available for sale 17 11,229,357 4,466,049 - securities held-to-maturity, less allowance for impairment 17 15,395,712 16,069,187 Fixed and intangible assets, less accumulated depreciation 18 854,178 389,129 Other assets, less allowance for losses 19 288,655 103,703 TOTAL ASSETS 78,019,950 50,415,600 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES: Deposits from banks 20 5,520,711 6,132,246 Securities sold under agreements to repurchase 21 6,712,406 6,445,279 Customer accounts 22,26 51,981,045 28,562,964 Debt securities issued 23 732,708 726,991 Other liabilities 91,480 87,010 65,038,350 41,954,490 Subordinated debt securities issued 23 2,956,611 - Total liabilities 67,994,961 41,954,490 SHAREHOLDERS’ EQUITY: Share capital 24 6,000,017 6,000,017 Share premium 24 25,632 25,632 Revenue reserves 3,999,340 2,435,461 Total shareholders’ equity 10,024,989 8,461,110 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 78,019,950 50,415,600 FINANCIAL COMMITMENTS AND CONTINGENCIES 25,26 6,968,703 4,532,848 On behalf of the Management Board: ___________________________ ____________________________ Chairman Chief Accountant 26 January 2005 26 January 2005 A l m a t y A l m a t y The notes on pages 7 to 35 form an integral part of these financial statements.
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This note was uploaded on 09/19/2011 for the course ECONOMICS eco3345 taught by Professor Smith during the Spring '10 term at Kazakhstan Institute of Management, Economics and Strategic Research.

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EB_2004-1 - EURASIAN BANK JSC Financial Statements For the...

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