investor_presentation_2008_final - Presentation 2008...

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Presentation 2008 Financial Results April 2009
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Kazakhstan: financial hub of Central Asia 2008 Financial Results Macroeconomic indicators Sovereign ratings Moody±s: Baa2/Stable (June 9± 08) Fitch: BBB Ͳ /Negative (Nov 9± 08) S&P: BBB Ͳ /Negative (Apr 29± 08) 2008 2007 2006 GDP (%) 38 . 9 1 0 . 7 Direct Investments (USD mn) 10 732 12 592 10 911 Gross FX reserves (USD mn) 19 872 17 3629 19 127 Gross Foreign Debt (USD mn Manufacturi ng 11,4% Trade and vehicle GDP breakdown by industries Gross Foreign Debt (USD mn) 107 813 96 914 74 014 Trade Balance (USD mn) 33 519 15 091 14 642 Unemployment (%) 66 73 78 Construction and real Mining 18,6% services 12,5% Finance 5,4% Other 6.6 7.3 7.8 Inflation (%) 9.5 18.8 8.4 Exchange rate (US$ 1 = KZT)* 120.79 121.7 126.1 Transport and communicati ons 10,1% Agriculture 5,2% estate operations 23,6% 13,2% 2 * Ͳ On February 4, 2009 KZT was devalued by 24% , thus exchange rate totalled KZT 149=USD 1.
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Government response to downturn 2008 Financial Results Government taking actions to strangle market volatility adopted following law Government adopted the stabilization program of USD 18 bn*. with the purpose o fundamenta sector suppor unde which fund have been Regulatory amendments Liquidity and capital injections laws : Refinancing rate at 9.5%, declined from 11% as of August 2008 Minimum Reserve Requirements Ͳ 1.5% for internal and 2.5% for purpose of fundamental sectors support under which funds have been devoted as follows: Small and medium enterprises support Ͳ KZT 120 bn (USD1 bn) other liabilities . (A sof November 2008 internal liabilities ± 5% and other liabilities Ͳ 7%) New FSA capital requirements Ͳ KZT5bn (USD42.5 mn) since July 1, 2009 and KZT10bn (USD85 mn) since July 1, 2011 Construction and mortgage lending revival Ͳ KZT 120 bn. (USD1 bn) In March Government launched 9 Ͳ 11% rate mortgage refinancing programme Real sector revival Ͳ KZT 144 bn (USD1.2 bn) State Ͳ guaranteed retail deposits, increase to KZT5mn (USD41,667) from the previous KZT700,000 (USD5,797) FSA adopted Early Response Measures dd November 28, 2008 Financial sector stabilization ± KZT 332 bn (USD2.8 bn) Banking sector support program includes government entering capital determining events, affecting deterioration of financial position of the second Ͳ tier banks, including maximum NPL level (15% and higher), loan to deposit ratio (not exceeding 150%), decrease of capital adequacy ratios (0.005% per month during 3 consecutive of top 4 Kazakh banks, (25% entrance Ͳ each of KKB and Halyk, anticipated 100% entrance ± BTA and Alliance), banks facing liquidity squeeze due to high foreign debt level. This measure would facilitate banking hierarchy change, while mid Ͳ size commercial banks months) etc. and government sanctions ineither of these events. less foreign debt burden would win market share and have wider development and growth opportunities. * Ͳ Exchange rate was taken before devaluation at 120 KZT/USD 3
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Eurasian Bank versus Banking sector 2008 Financial Results Ranking Market share, % Banking sector, USD mn 37 banks operating Jan’09 Commentary highlights Market share of Eurasian Bank Net profit 4** 13.4 91 Assets 92 . 3 9 8 406 Loan portfolio 10 1.4 74 981 High sector concentration Ͳ 57.7% of total banking assets belongs to top 3banks Moderate YoY *
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investor_presentation_2008_final - Presentation 2008...

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