Annual report 2011 - VTB

VTB Annual Report 20119. Summary financial statements in accordance with RASTranslation from the original in RussianTranslation from the original in RussianBalance sheet(published form)as at 1 January 2012120by negligence or error. While assessing the risk,the Auditor shall review the internal control systemunderpinning the preparation and presentation of theAnnual Report in order to select the relative auditingprocedure, rather than express opinion of theefficiency of such internal control system. The auditalso includes an assessment of compliance with theaccounting policy, and a review of the significantestimates derived by the Management of the auditedentity; as well as the evaluation of the overallpresentation of the Annual Report.We believe that the audit evidence we have gainedprovides a reasonable and due basis for our opinion.OpinionIn our opinion, the Annual Report presents fairly, inall material respects, the financial position of VTBBank (open joint stock company) as at 31 December2011, its financial performance and cash flows forthe year 2011 in accordance with the rules regulatingthe preparation of annual reports in the RussianFederation.MiscellaneousSubject to Clause 9 of the Explanatory Notes,JSC VTB Bank Management has decided not topublish the Explanatory Notes within the AnnualReport in the mass media in compliance withDirective No.2172-U of the Bank of Russia as at20 January 2009 “On Publishing and DisclosingInformation on Performance of Lending Institutionsand Bank (Consolidated) Groups”. Please note thatthis Audit Opinion shall be considered togetherwith all forms of annual financial statements andexplanatory notes, being an integral part of theAnnual Report. The full Annual Report comprising allfinancial statements and the explanatory notes shallbe accessible at the relative page used by the Bankfor information disclosure at www.vtb.ru.The accompanying Annual Report is not intendedto present the financial position and financialperformance in accordance with accounting andreporting principles or practices generally acceptedin countries and jurisdictions other than the RussianFederation. Accordingly, this Annual Report is notdesigned for those who are not informed aboutaccounting and reporting principles, procedures andpractices in the Russian Federation.No. Line item Data as at thereporting date(RUB thousand)I. AssetsData as at thereporting date of theprevious year(RUB thousand)1 Cash 25,191,760 8,083,5152 Funds with the Central Bank of the Russian Federation 158,945,660 67,527,8612.1 Mandatory reserves 32,079,621 10,627,4893 Due from other credit institutions 44,628,606 57,319,8274 Net investments into securities at fair value through profit or loss 285,456,452 152,489,5895 Net loans 2,804,629,583 1,883,198,0386Net investments into securities and other financial assetsavailable-for-sale589,310,298 419,475,9076.1 Investments into subsidiaries and associates 351,482,525 250,875,1577 Net investments into securities held-to-maturity 3,576,783 5,340,2328 Fixed assets, intangible assets and materials 107,911,984 96,333,7179 Other assets 151,800,456 94,892,71310 Total assets 4,171,451,582 2,784,661,39911II. LiabilitiesLoans, deposits and other funds of the Central Bankof the Russian FederationForm code 0409806198,544,975 012112 Due to other credit institutions 1,148,405,077 750,529,634Par tnerAndrey V. Sorokin13 Funds of clients (non-credit institutions) 1,907,937,588 1,228,392,83213.1 Individual deposits 13,503,267 10,101,11314 Financial liabilities at fair value through profit or loss 2,652,612 1,016,188ZAO Ernst & Young Vneshaudit15 Debt instruments issued 215,069,960 146,476,73916 Other liabilities 60,310,594 35,780,7736 April 201217Provisions for possible losses on the credit commitments andcontingencies, for other possible losses and for operations withoffshore residents8,759,353 4,396,75418 Total liabilities 3,541,680,159 2,166,592,920