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    In 2004 JCB "ZARECHYE" PSC continued operations on the market of state obligations. The income of the Bank's investments in state ruble bonds FLO (Federal Loan Obligations) in 2004 made 2.7 million rubles, 2 times exceeding the income of such operations in the previous year. Besides the above bonds were actively used by the Bank as a lien for engaging inexpensive extra loans funds for their further investment.

    Thus, the annual total income of various stock market operations made 56.1 million rubles disregarding of income of the recovered reserve for depreciation of stocks and possible losses connected with loans.

    The Bank's income received at the account of affiliates' operation just as during the previous accounting periods was indirectly expressed in growing capitalization and directly in interest received for credits issued to the affiliates and dividends no less than 100% of capital invested in their registered funds.

    The Bank actively worked with corporate clients in the field of currency transactions. In 2004 the credit turn-over on corporate client accounts made USD 83.055 million and EURO 104 thousand.

    The volumes of cashless foreign currency exchange transaction with the Bank's corporate made:

Purchased, thousand USD 7278.6
Sold, thousand USD 4563.4
Purchased, thousand EURO 69.9
Sold, thousand EURO 165.9

    In 2004 JCB "ZARECHYE"PSC continued rendering conventional and non-conventional bank services both to one of the Bank's important clients, namely, KAZAN HELICOPTER PLANT PSC, to its affiliated industrial enterprises and to member financial companies of the holding. At the same time the Bank had to solve the problem of direct (participation in the above holding as a single clearing center gradually attracting newly established enterprises to join the holding.

    Such interaction between corporate members of the holding allows KHP PSC to solve problems of the main plant forming the holding and to provide mutually beneficial cooperation between other members of the holding in marketing, output and sales of products at agreed prices.

    In this chain of cooperation the JCB "ZARECHYE"PSC alongside with financial and leasing companies, a number of industrial enterprises and trading firms, played a role of equal partner, who in accounting year being a financial core, tried to concentrate the basic monetary flows and payments of the participants and rendered the financial assistance crediting modernization of equipment both of the plant and the holding member structures. The Bank solved this problem in close cooperation with and with the assistance of KHP PSC . The amount of payments effected through the main correspondent account made 7658.8 million rubles.

    In 2004 JCB "ZARECHYE"PSC continued working on the individual bank servicing market. The basic direction in this sector is the acceptance of both ruble and foreign currency deposits. It should be emphasized that the Bank was not intending to activate the operation in this segment of the bank market, however the total amount of individual deposits during the financial year practically was not changed. This can be considered as a permanent base of client still giving credence to the Bank's operation.

    In addition to attracting and placing individual deposits the Bank actively works with individuals in the field of foreign cash exchange.

Index 2004
Purchased, thousand USD 1372,1
Sold, thousand USD 1069,7
Profit thousand rubles471,1

    Careful policy, analysis and calculation in choosing financial tools allowed the bank to achieve yield on the most of operations and to receive annual balance profit in the amount of 63 million rubles, 1.5 times exceeding that of the previous year.


President of JSC Bank "Zarechye" Devyatikh N.V.
Chief Accountant Tychkina O.I.


Контакты Contacts

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

© Bank Zarechye (Joint Stock Company)