OREANDA-NEWS. Alliance Bank has announced its financial results for 9 months of 2007. Significant increase in profitability was one of the major achievements of the Bank. The net profit for 9 months of 2007 has reached KZT 30 billion increasing more than six fold in comparison to similar figure of the same period in 2006. ROA and ROE ratios calculated on annualized basis comprised 3.7% and 34.5% respectively.

Pursuant to unconsolidated (unaudited) financial statements, total assets of Alliance Bank were at the level of KZT1 224.7 billion. The share of liquid assets for the same date made up 21.2% or above USD 2.1 billion, more than USD 800 million of them are cash on hands and funds on correspondent accounts, which makes approximately 8% of the total assets and the remaining part is mostly comprised of securities.

Advances and loans to customers excluding loan loss reserves for 9 months of 2007 have grown to KZT882,9 billion reaching 72.1% of the Bank’s total assets.

The liabilities of Alliance Bank have increased to KZT 1 074.6 billion, out of which customers’ accounts amounted to KZT 236.3 billion.

At the beginning of 2007 total equity of JSC Alliance Bank, the main indicator of financial stability was at the level of KZT 150.1 billion, out of which KZT 101.2 billion was the authorized capital.

Capital adequacy ratios К1 and К2, calculated in accordance with prudential regulations of National Bank of Kazakhstan (The Central Bank), were 9.9% and 13.6% respectively (the legislative requirements are 5% for K1 and 10% for K2).

Third quarter 2007 was historic for Alliance Bank. In July 2007 the Bank made an IPO, by offering approximately 17.4% of its common shares on London Stock Exchange in the form of Global Depositary Receipts (GDR). In September 2007 Bank announced its new strategic goals that reflect changed internal and external realities that bank currently operates in and also position of a backbone player in the banking system of Kazakhstan and socially responsible public institution. The progressive development and balanced growth are considered priorities, which complies with long-term development strategy of the Bank.

Alliance Bank is a backbone financial institution with leading positions in the retail lending market (approximately 20% of all retail loans and more than 50% of total number of express loans in Kazakhstan)

Alliance Bank is rated by three leading rating agencies:
Moody's Investors Service: long-term foreign currency rating is "Ва2" (“stable”), short-term foreign currency rating is "NP" and financial strength is “E+”(“positive”);
Fitch Ratings: long-term foreign currency rating is “BB-”, short-term foreign currency rating is “B”, individual is “D” and support rating is “3”. Outlook is “Stable”;
Standard & Poor's: long-term rating is “B+”; short-term rating is “B”. Outlook is “Stable”.

Alliance Bank has an extensive branch network of 25 branches and 219 outlets in 47 cities and 18 settlements of the Republic of Kazakhstan. The Bank’s customer base amounts to more than 2 million customers.