NDC’s revenues for 2008, based on Russian Accounting Standards (RAS), reached RUR1.205 billion or 3.7% more than for 2007 (RUR1.162 billion). The company’s net profit was RUR392.21 million. This is 2% more than for 2007 (RUR383.636 million).
Value of internal funds, calculated on the basis of the Russian Federal Financial Markets Service’s method reached RUR1.253 billion, or 0.5% less against 2007 (RUR1.259 billion). Nevertheless this figure exceeds the capital adequacy ratio applicable five-fold. The decrease in internal funds as of the end of 2008 is connected with the acquisition of additional stakes in Settlement Depository Company (Closed Joint Stock Company) and in Closed Joint Stock Company "Depository Clearing Company". The cost of investments in these companies is excluded from internal funds according to the FFMS method.
Based on RAS, NDC’s total equity in 2008 rose 28,6% to RUR1.744 billion (RUR1.355 billion as of 31 December, 2007). Thus the RUR1.5 billion capitalization level established by an NDC general meeting decision on 22 December, 2005 as a target financial indicator for 1 January, 2010 was reached ahead of schedule.
Nikolay Egorov, NDC Director, said: “In 2008 NDC reaffirmed its leading position as the largest settlement depository in the Russian financial market. Its key indicators equal those of the previous year. NDC’s position is stable despite the general crisis situation in the stock market. Following a strategy of increasing the company’s total equity and providing for robust financial stability, we plan to focus on further active development of our business, expansion of our product range and improvement of the quality of our services.”
NDC’s turnover (the market value of securities transferred in inventory operations) for 2008 reached a record RUR60.98 trillion or 1% more than in 2007 (RUR60.487 trillion). The value of securities on deposit with NDC as of December 31, 2008 was RUR4.13 billion.
The number of inventory operations conducted by NDC in 2008 exceeded 2.5 million. This was 2% more than in 2007. Some 78% of securities involved in inventory operations were represented by shares (1.96 million operations). The total number of securities issues serviced rose 14.8% reaching 2,759 issues. Issuers with securities on deposit with NDC numbered 1,315 (8.2% more against 2007). Number of NDC participants increased 11.1% for 2008 to 908.
As of the end of 2008, NDC’s share in the payment agent service segment grew to 43.58% based on nominal value of corporate and regional bonds serviced. In 2008 NDC, acting as a paying agent, serviced 72 new bond issues from 65 issuers. In total, NDC serviced 290 bond issues from 206 issuers during the year. The value of coupon income and redemption payments paid by NDC as a corporate and regional bonds’ payment agent nearly doubled (up 99.7%) against 2007: in 2008 NDC made 660 payments for the sum of RUR129.387 million (RUR64.791 million for 2007).
Note:
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.
About NDC :
Not-for-Profit Partnership “The National Depository Center” is the largest settlement depository in Russia, servicing the full range of debt and equity securities of Russian issuers. NDC being the leading depository provides storage of global certificates and depository accounting for 99% of corporate bond issues, sub-federal and municipal bond issues. It services 100% of transactions conducted in the federal bond and the Bank of Russia bond markets, more than 99% of transactions conducted in the corporate and regional bond markets, and more than 99% of stock exchange transactions with equities and OTC trades. The international rating agency Thomas Murray has assigned NDC an АА- rating as a central depository. NDC is Russia's national numbering agency, and the substituting numbering agency for the CIS, authorized to assign the international ISIN and CFI codes.
Among NDC’s founders are MICEX and Bank of Russia (the founders’ shares in the property of NDC are 46.67% and 39.35% respectively, and in the votes 50.16% and 42.3% respectively). Members include GPB OJSC (Gazprombank), Evrofinans Mosnarbank, Rosbank, VTB Bank (Vneshtorgbank), Bank of Moscow, Rossiysky Credit Bank, Vnesheconombank, ING Bank Eurasia, JP Morgan Bank International LLC, UniCredit Bank, Deutsche Bank, and Sberbank. The Partnership also has stakes in Depository Clearing Company CJSC (37.29%), in Settlement Depository Company CJSC (28.54%) and in Bank "National Clearing Centre" CJSC (0.27%).
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For further information about NDC: www.ndc.ru, or NDC Public Affairs Department: +7 495 232 0910, .