Annual Report 2010


Portrait of the Bank

Offering an individual service for corporate clients and individuals, Bank Vozrozhdenie provides financial services across the whole of Russia. With a history dating back to 1991, the Bank is one of the largest financial institutions in Russia today and has been among the country’s top 30 banks for 18 years in a row.

Bank Vozrozhdenies network consists of 173 branches and 730 ATMs in 21 Russian regions, primarily those in the European part of the country: Moscow Region and the Southern and North-West areas of the country.

The Bank serves around 60,000 corporate clients and 1.5 million retail clients, offering a varied range of services that include deposits, cash management, business financing, mortgage and consumer lending, and bank cards. One particularly noteworthy feature is the loyalty of clients, many of whom have been with the Bank for 20 years.

Bank Vozrozhdenies strategy is based on developing its competitive advantages, a business that generates stable fees and commission income and its small and medium-sized enterprise (SME) programs, using a solid funding base, customer funds. The Bank adheres to a conservative risk-management policy, which has enabled it to emerge from all of the financial crises in modern Russian history without losses.

In December 2010, authoritative UK magazine The Banker (a Financial Times publication) named Bank Vozrozhdenie as Bank of the Year in Russia.

Bank Vozrozhdenie is one of the few financial institutions in Russia whose shares are traded on local and international stock exchanges. Over 9,000 individuals and legal entities are among its shareholders, and many have been investors for over 15 years. The Bank shows an unwavering commitment to observing the rights and interests of its shareholders, and year after year it is acknowledged as one of the leaders on Russias financial market in terms of corporate governance.

Bank Vozrozhdenie has published financial statements according to Russian Accounting Standards and International Financial Reporting Standards since 1991. Its external auditor is PricewaterhouseCoopers Audit. The Bank has long-term credit ratings of ‘Ba3 from Moodys and B+ from Standard & Poors.

Market positions1

  • 3rd by loans to the SME sector
  • 6th by volume of mortgages originated
  • 11th by bank cards issued
  • 13th by individual deposits
  • 18th by number of ATMs
  • 20th by loans to legal entities
  • 20th by volume of loan portfolio
  • 497th worldwide by brand value2

Key business results

2010

2009

Change

Assets, RUB billion

166,2

145,6

14,1%

Loan portfolio (excluding provisions), RUB billion

104,0

85,2

22,1%

Retail client funds, RUB billion

85,2

68,6

24,2%

Income, RUB billion

0,6

1,2

-50,0%

Capital adequacy

15,2%

19,0%

-3,8 ..

ROE

3,5%

7,8%

-4,3 ..

Number of retail clients, 000

1 546

1 503

2,9%

Number of corporate clients, 000

60

56

7,1%

Credit ratings

Agency

Type

Rating

Outlook

Moodys Investors Service

Foreign-currency deposit rating

Ba3/NP

Stable

Local-currency deposit rating

Ba3/NP

Stable

Financial stability

D-

Stable

Standard & Poors

Financial stability

B+

Positive

Short-term counterparty credit rating

B

Positive

National-scale rating

ruA+

Positive

Moodys Interfax

Long-term national-scale credit rating

Aa3.ru

Stable

The financial results in the table “Key business results” are according to IFRS, as are all other figures in this report.

Dynamics and structure of assets, RUB million


Dynamics and structure of liabilities, RUB million


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Structure of assets

Structure of liabilities

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* Operating income excluding provisions for loan write-offs.

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IR contacts

Tel.:  +7 (495) 620 9071
Fax: +7 (495) 620 1953
Web-site: http://www.vbank.ru
Email:  investor@voz.ru

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