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Net fee and commission income
| RUB million | 2011 | 2010 | Change, % |
|---|---|---|---|
| Fee and commission income | 151,876 | 130,949 | 16.0 |
| Cash and settlement transactions with legal entities | 42,500 | 40,623 | 4.6 |
| Cash and settlement transactions with individuals | 41,476 | 41,845 | (0.9) |
| Operations with bank cards | 35,084 | 23,639 | 48.4 |
| Agency agreements | 13,973 | 9,448 | 47.9 |
| Operations with foreign currency | 6,551 | 5,858 | 11.8 |
| Cash collection | 4,733 | 4,445 | 6.5 |
| Guarantees issued | 4,364 | 2,717 | 60.6 |
| Operations with securities | 1,120 | 1,116 | 0.4 |
| Other | 2,075 | 1,258 | 64.9 |
| Fee and commission expenses | (11,242) | (7,375) | 52.4 |
| Net fee and commission income | 140,634 | 123,574 | 13.8 |
The Group’s fee and commission income increased to RUB 151.9 billion in 2011, up 16% on 2010. This growth was fuelled by increased volumes of transactions generating fee and commission income, especially operations with bank cards, with cash and settlement transactions with legal entities and individuals traditionally generating the bulk of this income. Cash services to legal entities and money transfer services to individuals represent the largest items of fee and commission income. To diversify the structure of its fee and commission income, the Group is actively looking for increase proceeds from other sources: commissions on agency agreements to sell insurance policies, plastic card operations, foreign currency and securities transactions.
Fee and commission expenses primarily relate to settlement transactions.
