Annual report 2011 - VTB

VTB Annual Report 20118. 8. Выдержка Summary из consolidated консолидированной financial statements финансовой in отчетности accordance по with МСФО IFRS1088. Summary consolidated financialstatements in accordance with IFRSIndependent auditors’ report109Summary consolidated financial statements derived from the auditedconsolidated financial statements and independent auditors’ reportfor the years ended 31 December 2011 and 2010To the Supervisory Council and Shareholders of VTBBank:The accompanying summary consolidatedfinancial statements, which comprise theconsolidated statements of financial position asat 31 December 2011 and 2010, the consolidatedincome statements, consolidated statements ofcomprehensive income, consolidated statements ofcash flows, and consolidated statements of changesin shareholders’ equity for the years then ended,are derived from the audited consolidated financialstatements of VTB Bank and its subsidiaries (together“the Group”) for the years ended 31 December2011 and 2010. We expressed an unmodified auditopinion on those consolidated financial statementsin our auditors’ report dated 25 April 2012.The summary consolidated financial statementsdo not contain all the disclosures required byInternational Financial Reporting Standards. Readingthe summary consolidated financial statements,therefore, is not a substitute for reading the auditedconsolidated financial statements of the Group.Management’s responsibility for the summaryconsolidated financial statementsManagement is responsible for the preparation ofa summary of the audited consolidated financialstatements on the basis described in the footnote tothe summary consolidated financial statements.Auditors’ responsibilityOur responsibility is to express an opinion on thesummary consolidated financial statements based onour procedures, which were conducted in accordancewith International Standard on Auditing (ISA) 810“Engagements to Report on Summary FinancialStatements.”OpinionIn our opinion, the summary consolidated financialstatements derived from the audited consolidatedfinancial statements of the Group for the years ended31 December 2011 and 2010 are consistent, in allmaterial respects, with those audited consolidatedfinancial statements, on the basis described in thefootnote to the summary consolidated financialstatements.25 April 2012These summary consolidated financial statements do not contain all the disclosures required by International Financial Reporting Standards (IFRS),namely summary of principal accounting policies and other explanatory information as presented in the audited consolidated financial statementsof VTB Bank and its subsidiaries (together “the Group”) prepared in accordance with IFRS for the years ended 31 December 2011 and 2010.For a better understanding of the Group’s financial position, its financial performance and its cash flows, these summary consolidated financialstatements should be read in conjunction with the audited consolidated financial statements of the Group from which these summary consolidatedfinancial statements were derived. Copies of audited consolidated financial statements can be obtained from VTB Bank.