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    A new set of in-house documents regulating the Bank's work with the borrowers was developed. The documents involved a procedure for point-based evaluation of credit risks depending on their financial position. The requirements to the borrower at the stage of considering the possibility of issuing a credit have been tightened.

    The work carried out in the fiscal year allowed essentially to reduce the amount of delayed credit repayments. It was reduced from 7.6 million rubles at the beginning of the year down to 3.4 million rubles on January 1, 2005, i.e. more than 51 %. In the accounting period the Bank had no outstanding debts. The share of the overdue credits in the credit portfolio of the Bank has been permanently reduced making 0.63% against 1.63% on the previous accounting date. The share of delayed credit repayments in the total overdue debt was reduced from 2% as on 01.01.2004 down to 1% on 01.01.2005

    The total incomes gained during the fiscal year from credit operations made about 82 million rubles including interest in the amount of 77 million rubles.

    All year long our Bank was placing available short-term free resources on the IBC market. The volume of inter-bank credits (leaving aside prolongations) the Bank issued during the accounting period to Russian and foreign banks made 3706.9 million rubles.

    In 2004 the Bank continued operation on the stock market concentrating on the work both with state and corporate securities.

    The organizational work was mainly connected with the realization of the Federal Law "On insurance of individual deposits in the banks of the Russian Federation " No. 177-ФЗ of 23.12.2003 and entering the Deposit Guarantee System. For these purposes a new set of in-house documents was developed for regulating the Bank's operation on the capital market, describing methods of reducing basic risks that arise from stock market operations. All previous in-house rules, instructions and regulations were revised. The basic risks describing the operation of the bank on the stock market are actually market, stock, interest and investment risks. Methods and in-house regulations were developed namely for minimization of such risks taking into account the necessity of joining the deposit guarantee system.

    In 2003 the general meeting of the Bank's stockholders decided to increase the registered capital of the Bank up to 500 million rubles thus promoting the growth of the Bank's own capital and the amount of credits issued to clients as well as facilitating the fulfillment of other tasks connected with increasing the annual profit. During the year the 15th issue of the Bank's stocks was registered allowing to increase the registered capital up to 500 million rubles.

    Quick corporate securities remained an efficient instrument of operation on the stock market The income from re-evaluation of corporate securities made 51.3 million rubles proving the increase in market rate of acquired assets and reliability of investments and potential profit available in case of selling such securities. This tendency is rather stable being observed every year. Thus, the cost of assets and the reliability of investments, minimum risk and significant potential profit of the Bank are supported by the situation on the organized stock market allowing to predict significantly growing cost of stocks acquired by the Bank comparing to initial investments.

    Besides, the Bank kept to solve stock market problems connected with consolidation of stocks held by its main stockholders in order to prevent acquisition of voting stocks by persons who could disturb the work of the Bank's stockholders.


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Address: Russia, Republic of Tatarstan,
420032 Kazan, 2 Luknitskogo Str.
Phone: +7(843) 557-59-03, 557-59-65
Fax: +7(843) 557-59-75, 557-59-65
Telex: 224643 LADA RU
SWIFT: ZAJCRU2K

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