According to the results of the 2010 CIT Finance Investment Bank (OJSC) earned a profit of $ 230 million. In addition, the Bank obtained an additional 895 million rubles unrealized positive revaluation of securities, which was reflected in equity. The total portfolio of loans to legal entities grew by 4.8 billion rubles (19%) as of 1 January 2011 amounted to 30.1 billion rubles. On January 1, 2011 portfolio of loans to individuals, in which mortgage loans occupy more than 90%, amounted to 34.9 billion rubles. For 2010 this portfolio declined by 4.3 billion rubles (11%). The share of overdue loans in total corporate loan portfolio - 2.67%, the loan portfolio of individuals - 4.14%. The main part of the operating profit for the year 2010 generated from interest income derived from the major assets of the Bank - a portfolio of loans to legal entities, a portfolio of bank guarantees and mortgage portfolio, as well as by efficient operation of the Bank's securities market. As of January 1, 2011 assets of the Bank published form is 113 billion rubles. An important event in 2010 was the additional issue of shares, which resulted in the authorized capital of CIT Finance Investment Bank (OJSC) increased by 2 billion rubles and amounted to 5,000,000,000 rubles. As a result, since August 2010, the Bank performs a key standard capital adequacy ratio (N1). As of January 1, 2011 the Bank's capital, calculated in accordance with the instructions of the Bank of Russia amounted to 11.5 billion rubles, capital adequacy ratio (N1), -11.5%. During the III-IV quarter the Bank carried out the preparatory activities for the following additional issue of shares amounting to 2 billion rubles, which was held in January 2011. Thus, after registration of the additional issue of Bank's share capital will amount to 7 billion rubles. In accordance with the Financial Recovery Plan in the III quarter of the Bank repaid loans of OAO Russian Railways, in the amount of 2.5 billion rubles, SC ACB in the amount of 5.6 billion rubles. In 2010, the Bank's strong position in the sector of corporate lending, the implementation of the financial recovery plan and indicators of return on equity allowed to KIT Finance Investment Bank (OJSC) to obtain credit rating of "National Rating Agency at 'A +' (high creditworthiness, the first level). In general, provided all the financial conditions for continued stable development of the Bank. In 2011, the Bank intends to focus on the areas of corporate lending and private-banking. In addition to traditional areas of corporate business bank will develop its services to provide project financing, bridge financing, as well as other complicated structured products. Until the end of 2011 the Bank plans to complete the procedures for financial rehabilitation, as well as through the sale of its mortgage portfolio and non-core assets to prepay the term loans of RZD and GC "DIA" and, thus, fully pay to the state. In addition, the Bank aims at forming a long-term and stable passive base raised from internal and external market counterparties.
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