The National Depository Center (NDC), Russia's only settlement depository servicing the full range of Russian securities, today released its financial results for January-September 2008 in accordance with Russian Accounting Standards (RAS).
NDC revenues for January-September 2008 reached RUR924.2 million, 11% more than for the first nine months of 2007 (RUR834.4 million). The company’s net profit was RUR370.2 million, 18.4% more than for the comparable period of 2007 (RUR312.8 million). NDC total equity reached RUR1.722 billion. This is 27% more than the comparable figure as of January 1, 2008 (RUR1.355 billion).
Value of internal funds, calculated on the basis of Russia’s Federal Financial Markets Service’s (FFMS) method was RUR1.237 billion, 12.92% less against the comparable indicator as of July 1, 2008. However this corresponds with an established standard and even exceeds it five-fold. The decrease in internal funds is connected with the acquisition of additional stakes in Settlement Depository Company CJSC and Depository Clearing Company CJSC. The cost of investments in these companies is excluded from internal funds according to the FFMS method.
NDC's securities turnover (the market value of securities transferred in inventory operations) rose 13.6% for the first nine months of 2008 reaching RUR45.8 trillion (RUR40.265 trillion in January-September 2007). Some 38.4% of securities involved in inventory operations, which is a significant part of NDC’s securities turnover, were represented by shares.
The number of inventory operations conducted by NDC for January-September 2008 amounted to almost 2 million. This was 8.6% more than for the first nine months of 2007.
NDC customers made active use of the Speedy Settlement Scheme (SSS) during the reporting period. Turnover of SSS settlements between NDC and ING Wholesale Banking, Russia’s largest custodian rendering services to foreign investors, reached a monthly high of RUR13.14 billion in September. Total market value of securities transferred by SSS for the period from November 6, 2007 to November 1, 2008 was RUR73.28 billion.
At the same time NDC reports a major growth of activities of OTC market participants through Delivery vs Payment (DVP) transactions. The value of DVP transactions amounted to RUR512.7 billion for September 2008; total value of DVP transactions for the first nine months of 2008 was RUR696.3 billion.
Securities turnover through the NDC-DCC Bridge for the first nine months of 2008 amounted to RUR996.2 billion. The amount balance in transfers to NDC through the Bridge was positive and reached RUR283.5 billion.
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 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, 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%).
For further information about NDC: www.ndc.ru, or NDC Public Affairs Department: +7 495 232 0910, .