Consolidated Financial Statements
Report Of The Independent Auditor on The Summary Consolidated Financial Statements
To the Shareholders and Board of Directors of Bank Vozrozhdenie:
The accompanying summary consolidated financial statements, which comprise the summary consolidated statement of financial position as at 31 December 2012, the summary consolidated statement of comprehensive income, the summary consolidated statement of changes in equity and the summary consolidated statement of cash flows for the year then ended are derived from the audited consolidated financial statements of Bank Vozrozhdenie and its subsidiaries (the “Group”) for the year ended 31 December 2012. We expressed an unmodified audit opinion on those consolidated financial statements in our report dated 25 March 2013.
The summary consolidated financial statements do not contain all the disclosures required by International Financial Reporting Standards (“IFRS”). Reading the summary financial statements, therefore, is not a substitute for reading the audited consolidated financial statements of the Group prepared in accordance with IFRS.
Management’s responsibility for the summary consolidated financial statements
Management of the Group is responsible for the preparation of a summary of the audited consolidated financial statements on the basis described in Note “Basis for preparation”.
Auditor’s responsibility
Our responsibility is to express an opinion on the summary consolidated financial statements based on our procedures, which were conducted in accordance with International Standard on Auditing (ISA) 810, “Engagements to Report on Summary Financial Statements”.
Opinion
In our opinion, the summary consolidated financial statements derived from the audited consolidated financial statements of the Group for the year ended 31 December 2012 are consistent, in all material respects, with those consolidated financial statements, on the basis described in Note “Basis for preparation”.
ZAO PricewaterhouseCoopers Audit, 10 Butyrsky Val, Moscow, Russian Federation, 125047 T:+7 (495) 967 6000, F: +7 (495) 967 6001, www.pwc.ru
Summary Consolidated Statement of Financial Position
In millions of Russian Roubles | 31 December2012 | 31 December2011 |
---|---|---|
Assets | ||
Cash and cash equivalents | 40 885 | 37 755 |
Mandatory cash balances with the Central Bank of the Russian Federation | 2 097 | 1 939 |
Trading securities | 5 884 | 7 347 |
Due from other banks | 5 794 | 967 |
Loans and advances to customers | 141 662 | 124 383 |
Investment securities available for sale | 2 476 | 1 377 |
Premises and equipment | 3 064 | 3 048 |
Other financial assets | 1 103 | 1 254 |
Non-current assets classified as held for sale | 898 | 975 |
Other assets | 5 199 | 4 843 |
Total assets | 209 062 | 183 888 |
Liabilities | ||
Due to other banks | 7 647 | 8 202 |
Customer accounts | 163 876 | 145 142 |
Debt securities in issue | 7 032 | 6 722 |
Other borrowed funds | 2 803 | - |
Other financial liabilities | 350 | 588 |
Other liabilities | 496 | 555 |
Subordinated loans | 6 051 | 4 217 |
Total liabilities | 188 255 | 165 426 |
EQUITY | ||
Share capital | 250 | 250 |
Share premium | 7 306 | 7 306 |
Retained earnings | 13 124 | 10 807 |
Revaluation reserve for investment securities available for sale | 127 | 99 |
TOTAL EQUITY | 20 807 | 18 462 |
Total liabilities and equity | 209 062 | 183 888 |
Approved for issue and signedon 25 March 2013..
A.V.DolgopolovChairman of the Management Board | ![]() |
A.A.NovikovaChief Accountant | ![]() |
The consolidated financial statements, from which the summary consolidated financial statements have been derived,are available from Bank Vozrozhdenie upon request.
Summary Consolidated Statement of Comprehensive Income
Summary Consolidated Statement of Comprehensive Income
In millions of Russian Roubles | 2012 | 2011 |
---|---|---|
Interest income | 16 611 | 13 959 |
Interest expense | (7 553) | (6 503) |
Net interest income | 9 058 | 7 456 |
Provision for loan impairment | (2 722) | (2 304) |
Net interest income after provision for loan impairment | 6 336 | 5 152 |
Fee and commission income | 5 503 | 5 232 |
Fee and commission expense | (442) | (410) |
Gains less losses from trading securities | 6 | 7 |
Gains less losses from trading in foreign currencies | 439 | 420 |
Foreign exchange translation gains less losses | (40) | (50) |
Gains less losses on disposed investment securities available for sale | 3 | 12 |
Other operating income | 337 | 222 |
Administrative and other operating expenses | (8 652) | (8 353) |
Impairment of investment securities available for sale | (71) | - |
Provision for impairment of other assets | (449) | (216) |
Profit before tax | 2 970 | 2 016 |
Income tax expense | (639) | (422) |
Profit for the year | 2 331 | 1 594 |
Other comprehensive income: | ||
Investment securities available for sale: | ||
Gains less losses during the year | 34 | 32 |
Income tax expense recorded directly in other comprehensive income | (6) | (10) |
Other comprehensive income for the year | 28 | 22 |
Total comprehensive income for the year | 2 359 | 1 616 |
Earnings per share for profit attributable to the equity holders of the Bank, basic and diluted(expressed in RR per share) | ||
Ordinary shares | 93 | 64 |
The consolidated financial statements, from which the summary consolidated financial statements have been derived,are available from Bank Vozrozhdenie upon request.
Summary Consolidated Statement of Changes in Equity
In millions of Russian Roubles | Share capital | Share premium | Revaluation reserve for investment securities available for sale | Retained earnings | Total |
---|---|---|---|---|---|
Balance at 1 January 2011 | 250 | 7 306 | 77 | 9 227 | 16 860 |
Profit for the year | - | - | - | 1 594 | 1 594 |
Other comprehensive income | - | - | 22 | - | 22 |
Total comprehensive income for 2011 | - | - | 22 | 1 594 | 1 616 |
Dividends declared | - | - | - | (14) | (14) |
Balance at 31 December 2011 | 250 | 7 306 | 99 | 10 807 | 18 462 |
Profit for the year | - | - | - | 2 331 | 2 331 |
Other comprehensive income | - | - | 28 | - | 28 |
Total comprehensive income for 2012 | - | - | 28 | 2 331 | 2 359 |
Dividends declared | - | - | - | (14) | (14) |
Balance at 31 December 2012 | 250 | 7 306 | 127 | 13 124 | 20 807 |
The consolidated financial statements, from which the summary consolidated financial statements have been derived,are available from Bank Vozrozhdenie upon request.