MOSCOW - The National Depository Center (NDC), Russia’s only settlement depository servicing the full range of Russian securities, announced today its financial results for the first quarter of 2007.
For the first quarter of 2007 NDC’s revenues based on Russian Accounting Standards (RAS) reached RUR236.32 million. This is 31% more than for the same period of 2006. Net profit reached RUR99.285 million or 19% more than for 1Q 2006 (RUR83.180 million).
NDC’s total equity in accordance with RAS rose 10% for the quarter reaching RUR1.073 billion. Net profit excluding depreciation was RUR1.047 billion. Value of internal funds calculated in accordance with the method mandated by the Federal Financial Markets Service (FFMS) amounted to RUR964.99 million.
As of 31 March 2007, the value of securities held on deposit was RUR3.72 trillion, 71% more than the RUR2.18 trillion of a year earlier. Total number of depository operations for the first quarter 2007 rose by 600% in comparison year on year, reaching 599,000 operations.
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 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 market of the Bank of Russia, 95% conducted in the corporate and regional bond markets, and 90% of stock exchange share transactions. NDC provides storage of global certificates and depository accounting for 99% of corporate bond issues, and 95% sub-federal and municipal bond issues. The international rating agency Thomas Murray has assigned NDC an A+ rating as a central depository. In 2006 the value of assets in storage was RUR 3.3 billion, turnover was RUR 30.7 billion, and the total number of operations 1.9 million. NDC is the largest paying agent on behalf of corporate bond issuers. It is Russia's national numerating agency, authorized to assign the international ISIN and CFI indexes. It is also a member of the international accounting infrastructure, providing settlements on the global financial markets using a direct account at Clearstream Banking S.A.
Among NDC’s founders are Bank of Russia and MICEX CJSC. Members include Bank of Russia, MICEX CJSC, OJSC Bank of Moscow, Sberbank, International Moscow Bank, JP Morgan Bank International LLC, Vneshtorgbank OJSC, Bank Rossiysky Credit OJSC, Evrofinans Mosnarbank OJSC, Rosbank, Gazprombank CJSC, ING Bank Eurasia CJSC and Deutsche Bank LLC.