Investor Presentaiton
SBERBANK
170 YEARS. BY YOUR SIDE
ANNUAL REPORT
GROUP IFRS INCOME STATEMENT
2011
NET FEE AND COMMISSION
INCOME
Agency agreements
RUB million
Volume factor
Interest rate
factor
Change in interest
income/expense
RUB million
2011
2010
Change, %
LIABILITIES
Fee and commission income
151,876
130,949
16.0
Due to individuals
(38,971)
60,708
21,737
Cash and settlement transactions with legal entities
42,500
40,623
4.6
Due to corporate customers
(3,768)
6,024
2,256
Cash and settlement transactions with individuals
41,476
41,845
(0.9)
Subordinated debt
5,023
3,684
8,707
Operations with bank cards
35,084
23,639
48.4
Other borrowed funds
(2,226)
(360)
(2,586)
13,973
9,448
47.9
Debt securities in issue
Due to other banks
Change in interest expense
(2,179)
2,777
598
6,551
5,858
11.8
(1,870)
(1,897)
(3,767)
4,733
4,445
6.5
(43,991)
70,936
26,945
4,364
2,717
60.6
CHANGE IN NET INTEREST INCOME
82
Λ
91,878
(9,955)
81,923
1,120
1,116
0.4
2,075
1,258
64.9
83
(11,242)
(7,375)
52.4
A
140,634
123,574
13.8
financial results
As evident from the table above, the dynamics of net interest income
was driven by four major factors:
Higher lending volumes, the impact of which was partially offset
by lower returns on loan portfolio in 2011 as compared with 2010.
- The steadily decreasing cost of retail deposits throughout 2010
and 2011 as a result of the repayment of long-term deposits with
high interest rates, which had been raised during the financial
crisis.
Significantly increased interest income on securities held to ma-
turity due to growing portfolio of the securities.
- A reduction in the portfolio of debt investment securities available
for sale, primarily due to the repayment of the Bank of Russia
bonds in the first half of 2011.
Operations with foreign currency
Cash collection
Guarantees issued
Operations with securities
Other
Fee and commission expenses
NET FEE AND COMMISSION INCOME
The Group's fee and commission income increased to RUB 151.9 bil-
lion in 2011, up 16% on 2010. This growth was fuelled by increased
volumes of transactions generating fee and commission income,
especially operations with bank cards, with cash and settlement
transactions with legal entities and individuals traditionally gen-
erating the bulk of this income. Cash services to legal entities and
money transfer services to individuals represent the largest items
of fee and commission income. To diversify the structure of its fee
and commission income, the Group is actively looking for increase
proceeds from other sources: commissions on agency agreements
to sell insurance policies, plastic card operations, foreign currency
and securities transactions.
Fee and commission expenses primarily relate to settlement trans-
actions.
financial results
170 YEARS. IT'S JUST THE BEGINNING
WWW.SBERBANK.RUView entire presentation