The National Depository Center (NDC), Russia’s only settlement depository servicing the full range of Russian securities, announced today that its revenues for the first quarter of 2008 according to Russian Accounting Standards (RAS) reached RUR295.6 million. This is 25% more than for 1Q 2007 (RUR236.3 million). The company’s net profit reached RUR129 million or 30% more than for 1Q 2007 (RUR99.3 million).
NDC’s total equity according to RAS rose 9.6% for 1Q 2008 to RUR1.485 billion. The company’s net assets, excluding fixed assets’ depreciation, reached RUR1.449 billion. Value of internal funds calculated on the basis of Russia’s Federal Financial Markets Service’s method reached RUR1.38 billion.
It is noteworthy that the value of securities on deposit as of March 31, 2008 rose 13% against the comparable period of 2007 and reached RUR4.2 trillion (RUR3.72 trillion as of March 31, 2007). The number of inventory operations conducted for 1Q 2008 rose 1.6% to 608,655. NDC's securities turnover (the market value of securities transferred in inventory operations) increased 34% compared with 1Q 2007 reaching RUR14.435 trillion (compared with RUR10.8 trillion a year earlier).
Value of securities held in NDC accounts is an operational indicator which does not include the market value of other assets held in issuers’ accounts. The value of shares and units of Unit Investment Trusts is based on market value, and the value of bonds is based on nominal value.
Not-for-Profit Partnership “The National Depository Center” is the largest settlement depository in Russia, servicing the full range of equity securities of Russian issuers. It services 100% of transactions conducted in the federal bond and the Bank of Russia bond markets, more than 95% of transactions conducted in the corporate and regional bond markets, and stock exchange share transactions. NDC provides storage of global certificates and depository accounting for 99% of corporate bond issues and 95% of sub-federal and municipal bond issues. The international rating agency Thomas Murray has assigned NDC an A+ rating as a central depository. For 1Q 2008 the value of assets in storage was more than RUR4.2 trillion. NDC is the largest paying agent on behalf of corporate bond issuers. It is Russia's national numbering agency, the substituting numbering agency for the CIS, authorized to assign the international ISIN and CFI codes. It is also a member of the international accounting infrastructure, providing settlements on the global financial markets using direct accounts at Clearstream Banking S.A. and Euroclear Bank. It also holds accounts at the Central Depository of the Republic of Kazakhstan and the NDC of the Republic of Azerbaijan.
Among NDC’s founders are MICEX and Bank of Russia (the founders’ shares in the property of NDC are 46.7% and 39.3% respectively, and in the votes 50.2% and 42.3% respectively). Members include GPB OJSC (Gazprombank), Evrofinans Mosnarbank, Rosbank, VTB Bank (Vneshtorgbank), Bank of Moscow, Rossiysky Credit Bank, Vneshekonombank, ING Bank Eurasia, JP Morgan Bank International LLC, UniCredit, Deutsche Bank, and Sberbank. The Partnership also has a stake in Depository Clearing Company CJSC (36.96%) and in Settlement Depository Company CJSC (28.54%).
For further information about NDC: www.ndc.ru, or NDC Public Affaires Department: +7 495 232 0910, .