OREANDA-NEWS. April 06, 2010. UniCredit Bank’s annual consolidated financial statements as of 31 December 2009 in accordance with International Financial Reporting Standards:

Net profit: RUR 6.7 bln (RUR 10.9 bln in 2008)

Total assets: RUR 482.3 bln (RUR 595.8 bln in 2008)

Total Capital (according to Basel II): RUR 64.2 bln (RUR 65.0 bln in 2008)

Net Loans to customers: RUR 341.7 bln (RUR 399.4 bln in 2008)

Total customers deposits: RUR 281.4 bln (RUR 248.9 bln in 2008).

The Bank achieved a net profit of RUR 6.7 billion, which is less thаn in the previous year, but significantly exceeds the market level.

Total assets are amounting to RUR 482.3 billion as of 31 December 2009. Slight decrease in assets compared with the results of 2008 is due mainly to loan portfolio decline.

Total capital as of the end of 2009 increased to RUR 64.2 billion. Total capital ratio, computed in accordance with the Basel II requirements, as of 31 December 2009 reaches 16.2%, which by far exceeds the minimum requirements of 8%.

Net loans to customers amount to RUR 341.7 billion as of 31 December 2009. Total gross loans to corporate customers amounted to RUR 291.6 billion, while the volume of loans to retail customers totals RUR 62.9 billion. At the same time the Bank continues to keep the corporate loan portfolio well diversified.

In 2009 the Bank significantly increased its funding basis through attraction of deposits from corporate and retail customers. As of 31.12.2009 total corporate funds amounted to RUR 219.7 billion, exceeding the previous year by RUR 24.3 billion. Amount due to retail customers increased in 2009 by RUR 8.2 billion to RUR 61.7 billion. UniCredit Bank improved the loan/deposit ratio to 121% from over 161% in the previous year.

Despite the increased network the Bank managed to keep the operating expenses of RUR 8.7 billion below the level of last year's RUR 9 billion. Comprehensive cost containment measures both in the HR and non-HR area proved highly efficient resulting in an exemplary Cost/Income ratio of 33.3% which is one of the lowest in the overall Russian banking sector.

The regional network of UniCredit Bank in Russia consists of 112 offices including 1 Representative office in Belarus. UniCredit Bank has opened branches in Ufa, Volgograd and Stavropol.

The customer base grew to 700,000 increased by more then 90,000 in comparison with the end of 2008.

"We are pleased with the results of UniCredit Bank in 2009, - marks Mikhail Alekseev, CEO of UniCredit Bank.  - It was not the easiest year for the Russian banking system, and despite this we were able to enter again into the Top-10 most profitable Russian banks. We also became again the largest foreign bank in Russia by the amount of assets. Speaking about the distinctive feature of this year, I would stress a significant increase of funds amounted from customers, which indicates high trustworthiness of our bank.

In 2010, we intend to intensify our activities in corporate and retail segments, as well as continue to implement programs to reduce costs and expenses, which showed its high efficiency”.