OREANDA-NEWS. On October 09, 2008 Alliance Bank (Almaty), a listing company of Kazakhstan Stock Exchange (KASE), released the press release, reported the press-centre of KASE:

Alliance Bank (LSE: ALLB) announced results of operation in the first half of 2008 in accordance with the audited consolidated statements IFRS. Net profit of the bank in accordance with the first six months of this year made up KZT10,209 m. (USD84.7 m.).

Principal indicators of Alliance Bank operation in the first half of 2008:

- Bank assets totaled to KZT1,069 bn. (USD8,854 m.) compared with   KZT1,161 bn. (USD9,650 m.) as at end of 2007. At that, liquidity coefficient   made up 20.2%

- Loan portfolio reduced 12 % down to KZT721 bn. (USD5,973 m.), including, loans to individuals - by 20.4 % down to KZT322 bn. (USD2,669 m.).

- To cover losses because of non-operative credits the Bank founded provisions in the amount of KZT56,207 m. (USD465 m.), reserve capital for possible losses in the amount of KZT17,160 m. (USD142 m.), insurance reserve in the amount of KZT8,276 m. Thus, the total of reserves equal to KZT81,643 m. (USD676 m.) makes 11 % of the loan portfolio covering 140 % of KZT58,480 bn. (USD484 m.) blocked debt.

- Own capital of the bank made up KZT169 bn. (USD1,401 m.) compared with KZT159 bn. (USD1,321 m.) according to results of 2007.

- Coefficient of sufficiency of the first level capital and general capital, calculated by the Basel Committee methodology on July 1, 2008 made up 17.7 % and 21.2 %, at normative values 6 % and 12 % accordingly.

- K1 and k2 calculated in accordance with prudential normative of the National Bank, made up 15.8 % and 16.6 % with 5 % and 10 % normative.

- Bank net profit made up KZT10,209 m. (USD84.7 m.).