Structure of Sberbank Groups assets under IFRS

The Group’s assets in accordance with IFRS increased by 25.6% to RUB 10,835.1 billion as of 31 December 2011.

The key asset item — loans and advances to customers, net — increased by 40.6%. The continuing recovery of the Russian economy and the Group’s active position on the lending market allowed the Group to expand its loan portfolio. The share of loans to customers in the Group’s asset structure rose to 71.3% at the end of 2011 from 63.6% at the end of 2010.

The Group’s securities portfolio shrank by 10.8% to RUB 1,625.8 billion (including securities pledged under repurchase agreements) and the share of securities in the Group’s assets reached 15.0% at the end of 2011. The decrease was mainly due to the repayment of Bank of Russia bonds in the first half of 2011.

В соответствии с действующей учетной политикой Группа произвела переоценку стоимости офисной недвижимости по состоянию на 31 декабря 2011 года, в результате чего стоимость основных средств увеличилась на 25,6 млрд руб.

RUB million As of 31 December 2011 As of 31 December 2010 Change, %
  Amount % of amount Amount % of amount  
Loans and advances to customers before
provision for impairment
8,382,107   6,191,910   35.4
Provision for impairment of loans and
advances to customers
(662,407)   (702,523)   (5.7)
Loans and advances to customers, net 7,719,700 71.3 5,489,387 63.6 40.6
Securities 1,625,850 15.0 1,823,648 21.1 (10.8)
Cash and cash equivalents 625,565 5.8 719,601 8.3 (13.1)
Premises and equipment 359,903 3.3 283,756 3.3 26.8
Mandatory cash balances with
the Bank of Russia
101,205 0.9 50,532 0.6 100.3
Due from other banks 35,097 0.3 13,035 0.2 169.3
Other assets 367,779 3.4 248,568 2.9 48.0
Total assets 10,835,099 100.0 8,628,527 100.0 25.6

In accordance with the current accounting policy, the Group revalued its office premises as of 31 December 2011. As a result, the value of premises and equipment increased by RUB 25.6 billion.

Other Group's assets increased to RUB 367.8 billion in 2011 (up 48.0% from 2010). The growth was driven by a significant increase in derivatives (450.5% up from RUB 9.3 billion at the end of 2010 to RUB 51.2 billion at the end of 2011) and an 89.7% increase in the amount of precious metals. Outstanding settlements on credit cards totalling RUB 78.8 billion as of 31 December 2011 (RUB 91.2 billion as of 31 December 2010) were the major item of other assets and represented liquid risk-free assets.

The table below shows the breakdown of the Group’s assets by reportable segment.

RUB million As of 31 December 2011 As of 31 December 2010 Change, %
  Amount % of amount Amount % of amount  
Moscow 4,848,994 44.8 4,318,256 49.9 12.3
Central and northern regions of the
European part of Russia
1,877,776 17.4 1,445,164 16.7 29.9
Volga region and the south of the
European part of Russia
1,530,792 14.2 1,163,282 13.4 31.6
Urals, Siberia and the Far East of Russia 2,110,444 19.5 1,548,746 17.9 36.3
Other countries 445,511 4.1 185,817 2.1 139.8
Total assets 10,813,517 100.0 8,661,265 100.0 24.8

Moscow and the European part of Russia account for 76.4% of the Group’s assets as of 31 December 2011 (80.0% in 2010).

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