Annual report 2011 - VTB

VTB BankNotes to the Consolidated Financial Statements – 31 December 2011 and 2010(in billions of Russian Roubles)19. Disposal Group Held for SaleIn September 2011, when acquiring "Bank of Moscow", OJSC the Group received controlling interest in "BM Bank", Ltd.,located in Kiev, Ukraine. In the fourth quarter of 2011 the Management decided to sell these investments and intends todo it within 12 months, as of 31 December 2011 the negotiations had not been finished. The Group accounted for theseinvestments as a disposal group held for sale under IFRS 5. The Bank has calculated fair values of the received assetsand liabilities at the acquisition date amounting to RUR 10.3 billion and RUR 8.5 billion, respectively. These investmentsare included in “Corporate-Investment banking” and “Retail banking” segments (Note 37).20. Due to Other Banks31 December201131 December2010Term loans and deposits 369.2 161.6Correspondent accounts and overnight deposits of other banks 310.6 226.7Sale and repurchase agreements with other banks 19.9 9.0Total due to other banks 699.7 397.3Included in amounts due to other banks at 31 December 2011 are restricted deposits of RUR 1.0 billion(31 December 2010: RUR 0.9 billion), where matching deposits were placed by the Group in other balances in nonfreelyconvertible currencies (Note 7).As at 31 December 2011 term loans and deposits contain the amount of RUR 1.4 billion (31 December 2010:RUR 0.6 billion) secured with a pledge of financial assets at fair value through profit or loss in the amount ofRUR 1.4 billion (31 December 2010: RUR 0.6 billion) (Note 8).Financial assets pledged against sale and repurchase agreements are financial assets at fair value through profit orloss and financial assets available-for-sale with a total fair value of RUR 8.1 billion (31 December 2010:RUR 11.4 billion), and those classified as due from other banks and loans and advances to customers with amortizedcost of RUR 13.2 billion (31 December 2010: RUR 1.3 billion) (Note 9).As at 31 December 2011, term loans and deposits in the amount of RUR 1.9 billion (31 December 2010:RUR 4.2 billion) are collateralized with loans to customers in the amount of RUR 2.0 billion (Note 11) (31 December2010: RUR 5.6 billion).As at 31 December 2011 financial assets pledged against sale and repurchase agreements with other banks werealso represented by financial assets received under reverse sale and repurchase agreements in the total amount ofRUR 5.9 billion (31 December 2010: nil).21. Customer Deposits31 December201131 December2010Government bodiesCurrent / settlement deposits 38.0 14.0Term deposits 482.1 83.6Other legal entitiesCurrent / settlement deposits 610.8 475.7Term deposits 1,296.3 882.0IndividualsCurrent / settlement deposits 254.7 142.6Term deposits 906.1 605.3Sale and repurchase agreements 8.7 9.7Total customer deposits 3,596.7 2,212.9As at 31 December 2011 deposits of RUR 11.9 billion (31 December 2010: RUR 9.6 billion) were held as collateralagainst irrevocable commitments under import letters of credit and guarantees (Note 36).37