Annual report 2011 - VTB

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VTB Annual Report 20118. Summary consolidated financial statements in accordance with IFRS116Consolidated Statements of Changesin Shareholders’ Equity for the Years Ended31 December(in billions of Russian Roubles)Consolidated Statements of Changes in Shareholders’ Equity for the YearsEnded 31 December (in billions of Russian Roubles)117(continued)Share capital Share premium Treasury shares Unrealized gain onfinancial assetsavailable-for-saleand cash flowhedgeAttributable to shareholders of the parentPremisesrevaluationreserveCurrencytranslationdifferenceRetained earningsTotalNoncontrollinginterestsTotalequityBalance at 1 January 2010 113.1 358.5 (0.4) 3.4 11.8 13.2 2.7 502.3 2.6 504.9Net result from treasury shares transactions - - 0.1 – – – (0.1) – – –Total comprehensive income for the period – – – 0.6 (0.1) (2.2) 58.0 56.3 (3.7) 52.6Transfer of premises revaluation reserve upon disposal or depreciation – – – – (0.3) – 0.3 – – –Dividends declared – – – – – – (6.1) (6.1) – (6.1)Acquisition of subsidiaries – – – – – – – – 23.2 23.2Increase in share capital of subsidiaries – – – – – – (1.5) (1.5) 1.9 0.4Acquisition of non-controlling interests – – – – – – (0.1) (0.1) (0.1) (0.2)Expiration of put options over non-controlling interests – – – – – – 3.4 3.4 – 3.4Balance at 31 December 2010 113.1 358.5 (0.3) 4.0 11.4 11.0 56.6 554.3 23.9 578.2Net result from treasury shares transactions – – (0.3) – – – – (0.3) – (0.3)Total comprehensive income for the period – – – 2.8 – 2.8 88.1 93.7 0.9 94.6Transfer of premises revaluation reserve upon disposal or depreciation – – – – (0.2) – 0.2 – – –Transfer of currency translation difference upon legal merger of subsidiary – – – – – (2.4) 2.4 – – –Dividends declared – – – – – – (6.1) (6.1) (1.2) (7.3)Increase in share capital of subsidiaries – – – – – – (3.2) (3.2) 3.4 0.2Acquisition of subsidiaries – – – – – – – – 17.0 17.0Disposal of subsidiaries – – – – – – – – (0.5) (0.5)Acquisition of non-controlling interests – – – 1.1 0.2 (0.4) (13.9) (13.0) (21.9) (34.9)Obligation to purchase non-controlling interests – – – – – – (21.9) (21.9) – (21.9)Balance at 31 December 2011 113.1 358.5 (0.6) 7.9 11.4 11.0 102.2 603.5 21.6 625.1These 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.These 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.
VTB Annual Report 20119. Summary financial statements in accordance with RASTranslation from the original in Russian1189. Summary financial statements inaccordance with RASAudit reporton the Annual Report prepared on the basis of VTB Bank’s(open joint stock company) results for 2011119Translation from the original in RussianTo the shareholders of VTB Bank (open joint stockcompany)The Audited Entity:Company name: VTB Bank (open joint stock company)Entry of state registration of the credit organisation bythe Central Bank of the Russian Federation: No. 1000dated 17 October 1990.Certificate of entry made to the Unified State RegisterNo. 1027739609391, issued by the Ministry of Taxesand Levies of the Russian Federation on 22 November2002.Address: 29, Bolshaya Morskaya St., St. PetersburgThe Auditor:Company name: CJSC Ernst & Young VneshauditMain State Registration Number: 1027739199333Address: 77 bldg 1, Sadovnicheskaya Emb., Moscow115035, RussiaCJSC Ernst & Young Vneshaudit is a member ofNon-Profit Partnership Audit Chamber of Russia(NPP ACR). CJSC Ernst & Young Vneshaudit isregistered in the NPP ACR register of auditors andaudit organisations under record number 3027and included in the controlled copy of the auditorsand audit organisations register under main recordnumber 10301017410.We have audited the accompanying Annual Reportof VTB Bank (open joint stock company), whichincludes: the annual balance sheet as of 1 January2012, the income statement for 2011, the cashflow statement for 2011, the statement of capitaladequacy and loan impairment for bad loans andother assets as of 1 January 2012, the informationon mandatory ratios as of 1 January 2012 and theexplanatory note (only in terms of points 1.1, 2.1-2.4,2.6-2.7, 3.1-3.5, 6, 7).The responsibility of the audited entity for the AnnualReportIt is the responsibility of JSC VTB Bank Management toprepare and present the Annual Report in compliancewith the accounting procedures applicable underthe Russian legislation and to maintain the internalcontrol system needed to prepare the Annual Reportfree of any material misrepresentation caused bynegligence or error.The responsibility of the AuditorOur responsibility is to express an opinion on thefairness of the Annual Report based on our audit.We conducted our audit in accordance with theFederal Standards of Auditing and InternationalAuditing Standards, which imply compliance withethical principles and obtainment of reasonableassurance that the Annual Report is free from anymaterial misrepresentation.The audit includes various auditing proceduresaimed at gaining evidence to support the amountsand disclosures in the Annual Report. The choice ofthe auditing procedures is subject to our judgmentbased on the assessment of risk of materialmisrepresentations in the Annual Report caused
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