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2011
January
Security of Tatfondbank’s Payment Cards Validated at International Level
Tatfondbank confirmed the high level of data security in the course of processing, transmission, and storage of payment card holder data. PCI DSS Certification of Tatfondbank means maximum security of data protection and, hence, security of funds of the Bank’s clients.
Assets of Tatfondbank Increased by 20% in 2010
The Bank’s assets increased up to RUB 76.2 billion, or by 20%. The net assets grew by 15.6% and exceeded RUB 65.1 billion.
The amount of funds raised by the Bank grew by 18.3% and totalled RUB 51.4 billion. Of these funds, corporate account balances grew by 47.9% totalling RUB 5.4 billion, and retail deposits grew by 31.5%, up to RUB 21 billion.
The Bank’s lending portfolio grew by 7.9% totalling RUB 41 billion. The corporate lending portfolio grew by 8.9% and exceeded RUB 37.4 billion. The number of corporate customers grew by 1 500, having exceeded 18 400 organisations and individual entrepreneurs.
March
Forbes: Tatfondbank Among Top-100 Largest Russian Banks
The Forbes Magazine published in its March issue the ranking of the largest Russian banks. The list contains two banks from Tatarstan, including Tatfondbank.
When making its ranking, Forbes relied on the information as at the end of 2010 complied by Interfax Center for Economic Analysis. The Bank’s assets at the end of the last year totalled RUB 60.3 billion, and the amount of funds attracted from individuals totalled RUB 23.5 billion.
Tatfondbank and Russ-Bank United Their ATM Networks
Holders of MasterCard and Visa cards issued by Tatfondbank can withdraw cash from ATMs of Russ-Bank with no fee.
April
Tatfondbank Opened Its First Office in Bashkortostan
The Bank’s office is located at 84, Lenin Street. The office offers a broad range of banking services, including lending, deposit taking and acceptance of payments, money transfers, plastic card issuance, settlement and cash services, and other banking operations.
June
Tatfondbank Opened Its First New Format Office in Naberezhnye Chelny
The office was opened in the presence of Prime Minister of the Republic of Tatarstan Ildar Khalikov, Mr. Robert Musin, Chairman of the Bank’s Board of Management, Mr. Ildar Tukmakov, Deputy Chairman of the National Bank of the Republic of Tatarstan, Mr. Vasil Shaikhraziev, Mayor of Naberezhnye Chelny, partners and clients of the Bank.
The modern two-storey office, its floor-space being 1 800 sq. m., is located in the city centre. The new format office includes a mortgage and car loan centre, has spacious corporate and retail customer service areas, a special VIP customer section, safe cells, a conference hall, and a coin shop-window.
July
Tatfondbank’s Net Profit Tripled
Tatfondbank considered its performance in the first half of 2011. The Bank’s net profit totalled RUB 163.8 million having increased 3-fold compared to the similar period of the previous year (the profit gained in the first half of the last year was RUB 55.2 million). The Bank’s net assets grew by 9.2% compared to the beginning of the year, having exceeded RUB 71 billion, and its lending portfolio increased by 8.2% to exceed RUB 44.4 billion, with retail lending portfolio having increased by 20.3% totalling over RUB 4.2 billion.
At 1 July 2011, retail deposits totalled RUB 22.7 billion, up 8% compared to the beginning of the year.
In the first half of the year, the Bank issued over 21 700 new cards. The total number of cards issued by Tatfondbank exceeded 347 000.
Tatfondbank Among Top 1000 World Banks
Tatfondbank was included in the Top 1000 World Banks ranking of The Banker, a well-known British magazine. All in all, 31 Russian banks were included on this list this year.
The main criterion of the ranking is Tier1 capital (charter capital plus undistributed profit). According to The Banker, Tatfondbank’s Tier1 capital is US$ 268 million.
August
Moody’s Confirmed Ratings of Tatfondbank
Moody’s Investors Service confirmed B2/NP long-term and short-term debt and deposit ratings of Tatfondbank, as well as its E+ standalone bank financial strength rating (BSFR). The agency’s assessment is based on the Bank’s financial statements for 2010 prepared under International Financial Reporting Standards. The agency notes the entrenched position of the Bank in the banking market of the Republic of Tatarstan (Ba1/stable outlook) in Russia and the improvement of its total capital adequacy ratio.
September
Tatfondbank’s Bank Managed Mutual Funds Are Number One in Russia in August
Two bank managed mutual funds (BMMFs) of Tatfondbank (The Golden Fund and The Russian Bond Fund) ranked first in profitability based on the results of August 2011: The Golden Fund was the best among Russian mixed investment funds, while the Russian Bond Fund was number one among Russian bond funds.
Tatfondbank Confirmed Its Positions Among Top-100 Largest Banks of Russia
The results of the first half of 2011 placed the Bank on the list of Top-100 largest banks of Russia in capital and net assets made by Kommersant DENGI Magazine.
According to the ranking, the Bank’s net assets in the first half of 2011 amounted to RUB 66.12 billion, which is by 20% more compared to the figure for the same period of 2010.
The Bank’s capital at the end of the first half of the year totalled RUB 9.92 billion, which is by 30% more than in the first half of 2010, thus moving up the list from number 63 to number 56.
October
Tatfondbank Launched Exclusive Financial Service Programme for VIP Customers
The Bank introduced a packaged offer intended for VIP customers: the Business Class, an exclusive financial service programme. The programme opens to the Bank’s customers the broad financial opportunities and special privileges for services.
The Business Class Programme is an integrated solution in the field of VIP customer banking service. The programme integrated the best offers related to financial management: exclusive deposits, premium cards, individual asset management, and personal approach to each customer.
Tatfondbank Joined QIWI Payment System
The Bank became a partner of the QIWI Payment System, giving its customers an opportunity to use the system to credit their accounts and cards, and to repay loans at any convenient time.
The payment can be performed in cash with the help of more than 120 000 QIWI Terminals installed, within walking distance, all over Russia; using personal QIWI Wallet at w.qiwi.ru portal; or through QIWI Mobile application for mobile phones.
Tatfondbank Opened 100 Units in Russia
The hundredth office of the Bank was opened in Moscow and is located at Building 1, 71, Ryazansky Prospekt.
Tatfondbank Obtained Merchant Acquiring Licence from Visa
Tatfondbank obtained a merchant acquiring licence from Visa international payment system. The licence grants the right to interact directly with this payment system in the field of acquiring (acceptance of cards at retailer and service organisations for payments for products and services).
The licence enables the Bank to increase the speed and level of customer service in respect of customers, which use the merchant acquiring service.
2010
January
Tatfondbank’s Assets Grew by 29.6% in 2009
The Bank’s assets at the year-end totalled RUR 63.5 billion, having increased by 29.6% compared to the previous year. The net assets exceeded RUR 56 billion, having increased by 20.2%. The Bank’s net profit for the year totalled RUR 293.8 million.
The total volume of funds raised by the Bank grew by 18.3% up to RUR 43.5 billion. The funds on retail accounts grew by 56% up to RUR 17.6 billion, and the balances on corporate current accounts grew by 47.8% up to RUR 3.6 billion. Besides, the Bank has successfully placed two bond issues in 2009 for the total amount of RUR 3 billion and timely and fully repaid the 3rd bond issue for RUR 1.5 billion.
The Bank’s lending portfolio has increased by RUR 0.7 billion as at the year-end up to RUR 38.0 billion, with the corporate lending portfolio having increased by RUR 1.8 billion up to RUR 34.5 billion.
Balances on Current Accounts of Tatfondbank’s Customers in 2009 Increased 1.5-Fold
As at the beginning of 2010, the balances on current accounts of customers of OAO AIKB Tatfondbank totalled RUR 3.6 billion, which is 1.5 times more compared to previous year. The total number of the Bank’s corporate customers has exceeded 17 000, having increased by 14%. This means that over 2 100 new enterprises and organisations have opened their accounts with Tatfondbank.
Deposits with Tatfondbank Grew by 60%
The inflow of retail deposits with OAO AIKB Tatfondbank in 2009 has reached the record level. The total volume of deposits has grown by 60% and exceeded RUR 16 billion.
The highest growth of deposits began from summer last year when the Bank introduced a new line of deposits matched to the Bank’s 15th anniversary. The most popular with the customers were such medium- and long-term deposits as Live Brightly!, Autumn Blues, and Business Style.
Demand for Precious Coins in the Bank Grew 2.5-fold in 2009
Tatfondbank considered the results of its work in the precious metals market for 2009. The volume of gold and silver coins sold by the Bank in 2009 has grown 2.5-fold. The Bank’s profit from operations with precious coins in 2009 has increased by 60% compared to previous year.
Collectible coins, represented in the Bank by over 500 items, account for almost a third of the sales. Three thirds of the investment coins were gold coins, the leading items being Russian coins, Pobedonosets (George the Victorious) and Chervonets.
February
Tatfondbank Completed Transaction on Exchange and Issue of New Eurobonds in Amount of US$ 225 Million
OAO AIKB Tatfondbank completed the transaction on the exchange of a portion of the outstanding Eurobonds issued by OAO AIKB Tatfondbank in 2007 in the amount of US$ 200 million with the coupon rate of 9.75% per annum, and the transaction related to the new issue of Eurobonds in the amount of US$ 225 million due in 2012 and the coupon rate of 12% per annum.
As part of the exchange transaction, a portion of the existing Eurobonds in the amount of US$ 116 million was submitted for exchange. In return, the holders of the existing Eurobonds received Eurobonds of the new issue in the amount of US$ 117 million. The remaining US$ 108 million out of US$ 225 million were attracted from new investors.
Credit Suisse acted as the lead arranger of the exchange and new placement, with OAO Promsvyazbank and Raiffeisen Zentralbank Osterreich acting as co-arrangers of the placement.
The Eurobonds of OAO AIKB Tatfondbank were placed with investors from Switzerland, Austria, United Kingdom, Singapore, Russia, and Cyprus. The total demand has exceeded the placement volume by 20%.
March
Forbes: Tatfondbank Among Top Hundred Largest Russian Banks
OAO AIKB Tatfondbank was included in the list of top 100 largest Russian banks published in the March issue of Forbes.
The Forbes experts relied on the ratings of international rating agencies. The assessment of Tatfondbank is based on B2 deposit rating assigned to the Bank by Moody’s. Also considered were such factors as the assets, equity, and profit.
Tatfondbank ranks 51st in equity, 42nd in the funds attracted from individuals, and 60th in the assets, up 9 places in this factor compared to Forbes rating published in March last year.
Tatfondbank Placed Bond Issue for RUR 2 Billion
OAO AIKB Tatfondbank has today placed successfully through public subscription the sixth bond issue for 2 billion roubles with maturity of three years.
The coupon interest rate made up 11.2%. The terms of the issue provide for semi-annual coupon payments and the one-year put option. The demand for the issue has exceeded RUR 3 150 million.
Promsvyazbank acted as the arranger, while IK BKS and Nomos-Bank acted as co-arrangers of the issue. Underwriters included Avangard Bank, IK Veles Capital, Locko-Bank, Novikombank, NOTA-Bank, Region BC, Russian Standard Bank, Russ-Bank, and IK UFS Finance. Co-underwriters: Vesta Bank, J&T Bank, Inkarobank, M2M Private Bank, National Space Bank, Primsotsbank, Russ-Invest IC, Finprombank, Forshtadt Bank, and IC Center-Capital.
Tatfondbank Got the Right to Provide Customs Guarantees
The Federal Customs Service of Russia included OAO AIKB Tatfondbank in the Register of banks that have the right to provide bank guarantees of payment of customs charges.
This new service in the field of international trade financing is a convenient instrument for both importers and exporters. Tatfondbank guarantees the performance of obligations to the state on the payment of duties, penalties, and other payments in favour of the customs authorities.
The guarantees in favour of customs authorities can only be provided by institutions included in the Register of the Customs Service of Russia. The maximum amount of one bank guarantee is RUR 140 million.
April
Assets of Tatfondbank Exceeded RUR 70 Billion
OAO AIKB Tatfondbank considered its performance in the first quarter of 2010. The Bank’s assets increased by 11.6% over this period and totalled RUR 70.9 billion. Its net assets grew by 9.4% totalling RUR 61.6 billion.
The amount of funds attracted by the Bank increased by RUR 5 billion. Retail deposits grew by RUR 2.1 billion and exceeded RUR 18.1 billion. The funds attracted from corporate entities grew by RUR 2.4 billion up to RUR 14 billion.
The growth of the Bank’s assets in the first quarter is connected with the inflow of new customers represented by both depositors and corporate entities.
Tatfondbank Among Top Ten Banks in Lending of SMEs
RosBusinessConsulting News Agency published the rating of the largest Russian banks in lending of small- and medium-sized enterprises in 2009. OAO AIKB Tatfondbank ranks 9th. In 2009, the Bank issued over 840 loans to small- and medium-sized businesses for a total amount of over RUR 18.4 billion.
Tatfondbank Fully Redeemed Tatfondbank, 2010 (LPN) Eurobonds
OAO AIKB Tatfondbank has redeemed the nominal value of the Tatfondbank, 2010 (LPN) Eurobonds in the amount of US$ 84 million and the accrued interest.
Tatfondbank placed Eurobonds in the amount of US$ 200 million at the interest rate of 9.75% p.a. in 2007. In February 2010, a portion of the existing Eurobonds in the amount of US$ 116 million was submitted for exchange for Eurobonds of the new issue, Tatfondbank, 2012.
July
The Bank Started Issuing Chip Cards
Tatfondbank started issuing chip cards of Visa International payment system.
Chip cards offer enhanced protection against unauthorised access to confidential information. In chip cards, information is stored on a technologically and functionally improved device, a chip, which reduces to minimum the risks related to fraudulent operations. Chip cards also provide additional options that cannot be supported by magnetic ones.
Tatfondbank issues Visa Electron, Classic, and Gold chip cards in roubles, US dollars, and Euros for individuals and Visa Business chip cards in roubles intended for legal entities and individual entrepreneurs.
Chip cards have obvious advantages compared to magnetic ones. Offering better security and new service opportunities, chip cards are also less exposed to external factors, such as magnetic field effects.
August
The Bank Began Accepting Loan Applications via Internet
Tatfondbank offered new opportunities in the field of remote banking. The Bank has introduced a new service for its retail customers: an opportunity to send loan applications through the Bank’s official web site.
A loan application can be executed 24 hours a day. The Bank considers the applications within three working days and makes a decision on the loan. If the decision is positive, a customer is invited to obtain a loan.
The convenience of online applications is that the data submitted in the application (if correct) is used by the Bank to make a final, not preliminary, decision on the loan. Having received a positive decision, a customer needs to come to the Bank one time only to execute an agreement and obtain a loan.
September
Tatfondbank Achieved Partner Status in Russian Bank for Development for Financing of Innovations and Modernisation
OAO AIKB Tatfondbank was included on the list of partners of OAO Russian Bank for Development under the Financing for Innovations and Modernisation lending programme. The programme focuses on the lending of innovative and modernisation-related projects of small- and medium-sized businesses in the industrial sector of the economy and in the field of modern technologies.
The programme stipulates that the borrower’s activity should be aimed at the use of the outcomes of research development to expand and renew the range and improve the quality of products (goods, services), and to improve their production technology for its further manufacturing application.
Priority is given to projects ensuring the production and sales of competitive products that have no Russian-made equivalents, and to projects creating new jobs.
To obtain a loan for an innovative project, an applicant must have a patent, a certificate of authorship, and a certificate of expertise confirming the innovative nature of the invention. If using the outside developments, it will be necessary to have a patent and the relevant agreement with the author assigning the right of use of the development for production purposes to the borrower.
When completing a loan for modernisation of production, it will be necessary to provide the calculation in respect of the increase in sales or improvement of quality of industrial products, as well as a plan of its implementation through quality renewal of the fixed assets, increase in labour productivity, energy efficiency and ecological soundness.
November
The Bank Awarded 100 Talented Village Children with Yearly Grants
An official awarding ceremony of the “100 Talented Village Children 2010” Social Action was held in Kazan organised by Tatfondbank. The festive show programme included the presentation of personalised plastic cards to 100 village school children, who will be receiving 1 000 roubles from the Bank every month. The teachers of the grant winners were awarded cash bonuses of 5 000 roubles from the Ministry of Agriculture and Foodstuffs of Tatarstan.
In 2010, the number of applications for taking part in the action exceeded 450. The winners are school children who achieved good results at competitions in different disciplines and other intellectual contests. They represent all 43 districts of Tatarstan.
The 100 Talented Village Children Social Action has been held by the Bank with participation of the Ministry of Agriculture and Foodstuffs and the Ministry of Education and Science of the Republic of Tatarstan since 2009. It is aimed at support of intellectually gifted village school children and their teachers. The winners are determined by the Public Council based on the achievements of the children. The Council consists of the republic’s well-known statesmen and public figures, scientists, and top managers of the republic’s enterprises.
December
Expert RA Confirmed ‘A’ Rating of Tatfondbank
Expert RA Rating Agency has confirmed the ‘A’ (high level of creditworthiness) rating of OAO AIKB Tatfondbank.
The positive factors influencing Tatfondbank’s rating include the low level of overdue corporate loans (2.2% at 01.10.2010); high level of credit related off-balance-sheet liabilities coverage by highly liquid assets (270.6% at 01.10.2010), high probability of administrative and financial support on the part of regional authorities; and the relatively high (with account for the Bank’s size) capital adequacy ratio (H1 at 01.10.10 being 14.6%). In addition, typical for the Bank’s activities are the small portion of top 10 largest depositors on the liabilities side (16.3% at 01.10.10), the stable and diversified funding base with respect to sources and maturities; and a good balance between assets and liabilities in the long-term outlook (H4=44.8% at 01.10.10). The positive influence on the rating is also caused by such factors as the favourable public credit history and the strong competitive positions in the Republic of Tatarstan and in the banking sector in general.
Tatfondbank Placed Debut Issue of Exchange Traded Debentures for RUR 2 Billion
OAO AIKB Tatfondbank has placed the first tranche of its BO-1 exchange traded debentures for RUR 2 billion maturing in 3 years providing for an offer in 1.5 years and a semi-annual coupon. The coupon rate for the first three coupons was set at 9.5% per annum.
The issue was arranged by OAO Promsvyazbank.
Underwriters: OAO Bank Zenit, OAO VBRR, OAO Nota-Bank, OAO M2M Private Bank, OSAO RESO-Garantia, OOO IK Center Capital. Co-underwriters: OAO AKB Avangard, OAO IntekhBank, OAO NK Bank, OOO KB OPM-Bank, OAO Pervobank, OAO SKB Primsotsbank, OOO PromTransBank, OAO Chuvashcreditprombank.
‘Considering this issue, currently outstanding are 5 series of Tatfondbank’s bonds for the total amount of RUR 8.5 billion. A large amount of funds raised through successful placement of bonds speaks of the high level of confidence on the part of investors in Tatfondbank as one of the largest banks with government participation in the region. The today’s placement has become to us a kind of a concluding chord of the year. The Bank will use the raised funds to implement its development strategy for 2011-2013, including the implementation of its programmes related to small- and medium-sized business lending, and to develop the retail lending’, said Robert Musin, Chairman of the Board of Management of OAO AIKB Tatfondbank, commenting on the event.2009
March
Tatfondbank Ranks 12th in the Rating of Most Reliable Banks of Russia
OAO AIKB Tatfondbank moved up from number 34 to number 12 in the rating of most reliable top 100 largest commercial Russian banks at 1 January 2009 of the Profile Magazine. The Bank’s reliability index has improved from 26.7 to 31.06 points compared to the rating at 1 May of the previous year.
The Profile’s rating of Russian banks’ reliability has a history of over ten years. The index is calculated by a strict mathematical model and excludes completely the influence of human factor.
The technique used to build the index considers seven coefficients: equity to interest earning assets ratio, instant liquidity ratio, portion of liabilities to customers in liabilities, portion of liabilities to other credit institutions in liabilities, return on assets, portion of emission income in the capital structure, and the capital immobilisation index.
Moody’s Confirmed Ratings of Tatfondbank
Moody’s Investors Service confirmed the B2 long-term local and foreign currency deposit and debt ratings and the E+ bank financial strength rating (BFSR) of Tatfondbank.
The agency noted in its press-release that the ‘liquidity position of Tatfondbank has stabilised significantly over the past few months’ and ‘there is a moderate probability of support being extended to the bank in the event of need by the government of the Republic of Tatarstan’.
Tatfondbank Fully Placed Bond Issue for 2 Billion Roubles
OAO AIKB Tatfondbank successfully placed a three-year bond issue for RUR2 billion at MICEX. The active rate is 15% per annum. The terms of issue: 6 semiannual coupons and the annual offer.
The decision to place the bond issue was made by the Board of Directors of OAO AIKB Tatfondbank on 29 January. The prospectus for the bond issue was registered by the Central Bank of the Russian Federation on 2 March. The state registration number of the issue is 40503058B.
May
Tatfondbank Became Authorised Bank of RUSNANO Corporation
OAO AIKB Tatfondbank entered the list of the banks approved by RUSNANO for provision of cash-settlement services to special project companies implementing investment projects with participation of the Corporation.
The companies established within the projects implemented with co-financing on the part of RUSNANO will open accounts with a special mode of its use with the banks from the list. This mechanism was approved by the Corporation as one of the instruments of controlling the intended use of the investment funds by the special project company and provides for the control over the payments’ compliance with the budget approved by the investors.
The RUSNANO’s list includes 22 Russian credit institutions. The key criterion under the bank selection technique is the availability of a credit rating at the level of at least ВВ- or Ва3. Also, the portion of loans issued to individuals in the total lending portfolio of the Bank should not exceed 50%.
MasterCard Worldwide Assigns Principal Member Status to Tatfondbank
MasterCard Worldwide decided to upgrade the partner status of OAO AIKB Tatfondbank to Principal Member, thus making Tatfondbank the first bank from Tatarstan enjoying the Principal Member status with two international payment systems, MasterCard and VISA.
This status enables the Bank to enhance the efficiency of customer service, independently determine its card business development policy, and offer other banks the services related to participation in international payment systems as affiliated members.
Tatfondbank has been a member of VISA payment system since 2004, and a member of MasterCard Worldwide since 2006. The Bank has the Principal Member status with VISA from 2007.
The decision of MasterCard Worldwide testifies to the high estimate on the part of this international payment system of the Bank’s reliability and quality of services it offers to its customers.
September
Expert RA Confirmed Rating of the Bank
Expert RA confirmed the A rating (high level of creditworthiness) of Tatfondbank.
The Agency stated that ‘the key factor determining Tatfondbank’s high creditworthiness is the low level of arrears on corporate and retail loans’.
The factors that had favourable impact of the rating score included, according to the Agency, the low level of non-performing loans, the acceptable capital adequacy ratio for a group of federal banks, the adequate degree of diversification of borrowed funds by customers and sources, and availability of a broad range of instruments of refinancing by the Central Bank of the Russian Federation.
The Agency also stated that ‘Tatfondbank has sufficient experience of participation in government programmes, a good credit history that facilitates access to capital markets, high quality of banking risks management, and good strategic management’.
October
Tatfondbank Improved Its Position in Rating of Top 100 Largest Russian Banks
OAO AIKB Tatfondbank ranks 63rd in the rating of top 100 largest Russian banks prepared by Expert, a reputable Russian edition, based on the results of the 1st half of 2009.
According to the rating, the Bank’s assets as at 1 July 2009 total RUR 48.2 billion, which is by RUR 4.3 billion, or by 9.9% more compared to the previous year. The Bank’s equity as at 1 July 2009 totals RUR 8.3 billion. This is by RUR 2.06 billion, or by 33.3% more compared to figures of the previous year.
November
Annual Grants Issued to 100 Talented Village Children
The Bank considered the results of its republic-wide social action titled ‘100 Talented Village Children’. Hundred winners – pupils of village schools – who showed the best results at olympiads and conferences related to specific subjects were awarded at official ceremony. They represented all 43 administrative districts of Tatarstan.
The talented children were presented plastic cards of Tatfondbank. Every month over the year, the Bank credited 1 000 roubles to the card account. The teachers of the winners were also awarded valuable prizes: certificates for purchase of household appliances.
The action was launched by OAO AIKB Tatfondbank in May 2009 in honour of its fifteenth anniversary. Its goal is to support talented pupils of village schools and their teachers, and support the development of human potential in rural areas. The action is implemented with assistance of the Ministry of Agriculture and Foodstuffs of the Republic of Tatarstan and the Ministry of Education and Science of the Republic of Tatarstan.
December
The total number of plastic cards issued by OAO AIKB Tatfondbank has exceeded the mark of 300 000. The holder of the ‘jubilee’ card was officially congratulated by representatives of the Bank.
Rezeda Bikchantayeva, Director of the Retail Business Department of OAO AIKB Tatfondbank, noted:
‘Hundreds of thousands of people use Tatfondbank’s services all over the Republic of Tatarstan. This is a great honour and great responsibility to us. Plastic card is one of the most popular banking services that serves the basic needs of people, like getting wages, making payments, or keeping savings. For the last five years, the number of plastic cards issued by Tatfondbank has grown almost 20-fold. Over this period, we have introduced the latest information technologies, built one of the republic’s most powerful service networks, developed and currently offer convenient and often innovative services. This helped the Bank to win customers’ trust, which reflected in a simple figure: 300 000 plastic cards.’
2008
January
Number of plastic cards of Tatfondbank exceeded 200,000
OAO AIKB Tatfondbank issued over 200,000 plastic cards, thus having consolidated its positions among the banking institutions of the Republic of Tatarstan leading in the number of plastic cards in issue.
The Bank has a Principal Member status in the Visa International payment system and an Affiliated Member status in the MasterCard Worldwide payment system. The network of Tatfondbank includes over 170 ATMs and 300 POS-terminals. OAO AIKB Tatfondbank has its own Processing Centre, which enables the Bank to offer its customers a broad range of card products, introduce new technologies and additional services, and further improve quality and efficiency of servicing.
February
Tatfondbank stated that it has repaid the debut issue of CLNs to the amount of US$90 million.
Bank-Managed Mutual Fund of Tatfondbank Becomes Number One in Rating of Russian Bond Funds
In January, the Stable Income Fund of OAO AIKB Tatfondbank has become number one in the rating of Russian mutual bond funds and number three in the overall ranking of leaders having shown one of the best results in increasing the stake value (0.64% for 1 month, 9.63% for 12 months). The data were published in a review of the Association for the Protection of Investors’ Information Rights and were obtained from daily reports submitted by banks to the database of the information disclosure system.
The Stable Income Fund, which invests money in bonds and derivative instruments, became a safe haven for investors, not only having saved the assets from the market disruption, but also having achieved a relatively good profitability.
April
Tatfondbank Among Top 20 Largest Factoring Companies
According to Expert RA Rating Agency, OAO AIKB Tatfondbank ranks 12th on the list of the largest factoring companies in the number of contracts concluded in 2007.
More than RUB 2.57 billion of money claims was assigned to the Bank in 2007. The major factoring customers (92%) are small and medium enterprises (food products, automotive parts, fuels and lubricants, building materials, household chemicals, etc.), the remaining 8% being large corporate customers.
At 8 April, the factoring portfolio includes 57 customers and weighs RUB 440 million. Over 73% of companies are served under classic scheme of factoring with recourse, of which 6.4%, represented mostly by wholesale traders that sell their products through large regional retail trade networks, use closed (confidential) factoring, and 26% of companies actively use factoring without recourse, including the new product, reverse factoring, when the Bank finances the suppliers of its customers.
May
An Offer to Acquire the Fourth Issue of Bank’s Bonds
On 26 May 2008, the Board of Directors of OAO AIKB Tatfondbank (Minutes No. 6/2008 of 27 May 2008) made a decision to acquire the fourth issue of the Bank’s bonds (Reg. No. 40403058B of 8 November 2007) on the basis of a public irrevocable offer at the price of 100.5% of the nominal value in the amount of up to 1,500,000. The acquisition will take place at the stock exchange of the Moscow Interbank Currency Exchange on 10 June 2009.
June
OAO AIKB Tatfondbank Successfully Placed the Fourth Issue of Bonds for RUB 1,500 Million at the Rate of 11.40% Per Annum
The fourth issue of bonds of OAO AIKB Tatfondbank to the total amount of RUB 1,500 million was placed at MICEX on 4 June 2008. The maturity period is 3 years, the offer to be made in 1 year, and coupons to be paid 2 times per annum. The coupon rate was established as 11.40%. More than 100 applications from investors were made in the auction with the coupon rate varying from 10.5% to 11.70% per annum. The total demand exceeded RUB 2,500 million. All in all, 60 applications were accepted to the total amount of RUB 1,380,170,000. The remaining part of the issue was sold in the course of additional placement at MICEX from 17:40 to 18:00, Moscow time.
The organisers of the issue were OOO BK REGION and OAO AKB Svyaz Bank. The co-organisers were OOO RTK Broker, OAO Promsvyazbank, OAO Alfa Bank. The underwriters were OAO KB Sotsgorbank, OOO Vesta Investment Bank, OAO Petrocommerce Bank, and OAO Credit Bank of Moscow. Co-underwriters were RON-Invest, ZAO Gazenergoprombank, ZAO UK Adekta, OAO AB ORGRES-Bank, OOO KB Sudostroitelny Bank, OAO First United Bank, OAO Severnaya Kazna Bank, ZAO EKB Lanta-Bank, OAO NOTA-Bank, ZAO KMB-Bank, ZAO KB Rublev, OAO AKB BTA-Kazan, ZAO AKB Interprombank, OAO SKB-Bank, OAO IK Russ-Invest, and OOO KB Struktura.
Results of Joint Work with OAO Russian Development Bank
OAO Russian Development Bank (RosBR), a partner bank of OAO AIKB Tatfondbank, summarised the results of the analysis of work in 2008: OAO AIKB Tatfondbank has become one of the nominees in the category Availability of Financial Support, having provided 370 loans to small and medium businesses from the funds of OAO RosBR.
OAO AIKB Tatfondbank can also be chosen as one of the organisations applying the most efficient credit technologies, which are credited by OAO RosBR based on the portfolio principle.
The results of the joint work done in 2007 enabled OAO RosBR to award OAO AIKB Tatfondbank a Diploma for ensuring the availability of financial support within the programme of the Russian Development Bank for support of small- and medium-sized business.
The Meeting of the Newly Elected Board of Directors Held on 5 June
Ildus Mingazetdinov was elected Chairman of the Board of Directors.
Four Committees were established within the Board: for strategy, for audit, for risks, and for personnel and remuneration. Also elected were the members of the Committees.
The Board approved the plan of meetings of the Board of Directors for 2008-2009 (for the period of its authorities).
The Board of Directors found it expedient for the Bank to join the Code of Ethics in Banking approved by the 19th Congress of the Association of Russian Banks (ARB) and to introduce the ethic norms of doing business contained in such Code to its everyday practice. The Board of Management and the Employees Council of the Bank were instructed to discuss and make a final solution on the issue of the Bank’s joining the ARB’s Code of Ethics proceeding from the long-term interests of the Russian economy in general and interests of the Bank in particular, as well as from the need to enhance responsibility to its customers, partners, shareholders and to introduce the norms of the civilised behaviour in the market.
The Board of Directors also made decisions on the candidates to positions of top managers of two branches of the Bank and the spending of special purpose funds.
Tatfondbank on the Top 10 List in Crediting of Small- and Medium-Sized Business in Russia
Expert RA Rating Agency placed Tatfondbank on the 8th place in its Top 10 list of Russian banks leading in the volume of loans issued to small- and medium-sized businesses in 2008. All in all, 1050 loans were issued to small and medium enterprises in the first quarter of 2008 to the total amount of over RUB 3.6 billion.
July
Expert RA Assigns ‘A’ Rating to Tatfondbank
Expert RA Rating Agency assigned ‘A’ Rating to OAO AIKB Tatfondbank, which corresponds to the “high level of creditworthiness”.
The main factors determining high creditworthiness of the Bank include the acceptable capital adequacy ratio, high quality of corporate governance, and the good credit history. The credit risk management procedures help the Bank to keep the overdue debt ratio at a low level: only 0.7% of the lending portfolio at 1 April 2008. A well-developed network of branches and additional offices in the Republic of Tatarstan and the work done within the government programmes enabled the Bank to enter the list of top three largest credit institutions of the region.
The key factors that have adverse effect on the rating are high concentration of credit risks on major borrowers and the absence of full information on the Bank’s ultimate beneficiaries. According to statements for 2007 under IFRS, the financial results of the Bank have improved, but figures describing the return on assets and capital still remain below the average market ones. ‘The Bank is poorly represented outside of Tatarstan (nearly 85% of loans were issued to regional borrowers), and lags somewhat behind its major competitors in the retail segment. However, the plans for 2008-10 envision the pre-emptive growth of the retail business, including such to be achieved through expansion to other regions’, – notes Stanislav Volkov, the leading expert of the Financial Institutions Ratings Department of Expert RA Rating Agency.
The Bank develops corporate, retail, and investment business; actively participates in federal and regional programmes related to lending of agricultural producers and support of small business; renders trust management and factoring services. At 1 April 2008, the Bank’s assets under RAS are RUB 42.7 billion, its equity is RUB 7.0 billion, and its income before tax grew up to RUB 81.4 million.
August
Tatfondbank stated that it has repaid the debut issue of a syndicated loan to the amount of US$ 36 million. Standard Bank Group acted as the arranger of the issue.
September
Tatfondbank in the Rating of Best Banks of Russia
11 September 2008. The Kommersant published new ratings of Russian financial institutions prepared by Interfax-CEA in its ‘Bank’ supplement. The positions of OAO AIKB Tatfondbank in them are strong.
In the first half of 2008, Tatfondbank ranks 65th among 1000 Banks of Russia in assets, ahead of such credit organisations as BTA Bank, GE Money Bank, TRUST, and many others. At 1 July 2008, the assets of Tatfondbank, according to the rating, were RUB 43 695 million.
The ratings published by the Kommersant place Tatfondbank among top 50 Russian banks in corporate lending and in individual deposits. Tatfondbank is actively developing these kinds of its business. Some 148 000 depositors entrusted their savings to the Bank, their accounts currently containing over RUB 11.7 billion. Tatfondbank continuously develops its line of deposits, offering customers attractive and highly profitable conditions.
According to the National League of Management Companies, the Bank Managed Mutual of Tatfondbank called Fund Stable Income Fund ranks 4th in the rating of Best Bank-Managed Mutual Funds in profitability (at 1 July 2008), which includes ten banks.
Tatfondbank Opened Branches in Surgut and St.-Petersburg
OAO AIKB Tatfondbank continues to expand its presence in Russian regions. Recently it opened two new branches: in Surgut and St.-Petersburg.
‘The opening of branches of Tatfondbank in other cities of Russia means further development of competition in the banking sector. This will enable customers to choose from different banks focusing on quality and diversity of banking services and the level of services. We are sure that Tatfondbank, being a competitive financial institution, will win a proper place in the banking sector of other regions of the country as well’, said Gulnara Mustafayeva, Head of the Board for Support of Regional Network Business of OAO AIKB Tatfondbank.
October
Tatfondbank Attracted Over RR8.5 Billion from Central Bank of Russian Federation
20 October 2008. Tatfondbank received at its accounts RR8.5 billion attracted as loans from the Central Bank of the Russian Federation.
The funds were attracted in accordance with two Regulations of the Bank of Russia: No.312-P “On the Procedure of Provision of Asset-Backed Loans to Credit Institutions” and No.323-P “On Provision of Unsecured Loans by the Bank of Russia to Russian Credit Institutions”. The Bank attracted some RR3 billion against the pledge of its assets, and another RR5.5 billion were attracted without security.
The attraction of funds became possible after Tatfondbank, which has B2, outlook stable, credit rating by Moody’s, was included in the extended Lombard List of the Central Bank of the Russian Federation on 17 October.
Tatfondbank Among Russian Banks with Largest Number of ATM Terminals
Tatfondbank was included in the rating of Russian banks with the largest number of automated teller machines (ATMs). The rating was published by RosBusinessConsulting (RBC) News Agency at its analytical portal, RBC.Rating.
According to this reputable agency, in the first half of 2008, OAO AIKB Tatfondbank ranked 39th among 122 Russian banks having the most developed network of own ATMs.
At the date on which the rating was made, Tatfondbank had 196 own ATMs, as well as 81 ATMs of partner-banks in Moscow charging no cash withdrawal fees. The number of plastic card holders has already exceeded 250 thousand.
Tatfondbank Among Most Branchy Russian Banks
Tatfondbank stands high in the rating of Russian banks having the largest number of separate units. The rating was published by RBC News Agency on the RBC. Rating analytical page of its corporate site.
According to the rating of most branchy banks of Russia in 2008, OAO AIKB Tatfondbank ranks 40th among 100 Russian banks having the most developed network of branches.
At present, Tatfondbank has 94 separate units (12 branches, 73 additional offices, and 9 cash outlets). The Bank is vigorously expanding to Russian regions. In October, Tatfondbank opened branches in St.-Petersburg and Surgut, and will soon open a branch in Novosibirsk. The increase for 9 months of the current year made up 18 new units.
November
Fourth Issue of Bonds of OAO AIKB Tatfondbank Included on Micex ‘A’ Level Quotation List
Micex management made a decision on 5 November 2008, (Minutes No.175) to include on the Micex ‘A’ first level quotation list and to grant access to trade in the course of circulation through undergoing the listing procedure by means of inclusion to the ‘A’ first level quotation section of the List of Securities Admitted to Trade at Micex to the documentary interest-bearing non-convertible bearer bonds of OAO AIKB Tatfondbank under the state registration number 40403058В of 08.11.2007 with mandatory centralised keeping without the possibility of early redemption by OAO AIKB Tatfondbank.
Tatfondbank Opened Its Branch in Novosibirsk
Tatfondbank continues to develop its branch network in Russian regions. The new branch was opened in Novosibirsk at 65, Krasny Prospekt.
Tatfondbank has branches in Moscow, St.-Petersburg, Surgut, Perm, Cheboksary and other cities. All in all, the Bank has 96 units, which include 13 branches, 74 additional offices and 9 cash outlets.
The Novosibirsk branch of OAO AIKB Tatfondbank will be offering its customers the full range of banking services.
December
Holders Of Tatfondbank’s Bonds Can Obtain Funds From The Central Bank Of The Russian Federation
The Board of Directors of the Central Bank of the Russian Federation informed in its Letter No.149-T “On Inclusion of Securities on the Lombard List of the Bank of Russia” that it has decided to include bonds of Tatfondbank on the Lombard List of the Bank of Russia.
In the future, this fact will make it possible for banks that hold bonds of OAO AIKB Tatfondbank to obtain loans of the Central Bank of the Russian Federation against the pledge of Tatfondbank’s bonds. This can be another efficient instrument for such banks to support their own liquidity.
Including the securities of Tatfondbank on the Lombard List of the Central Bank of the Russian Federation became possible due to its existing relevant international ratings.
On the 6th of December 2008, OAO AIKB Tatfondbank has successfully repaid the principal amount of $ 30 000 000 and paid out the coupon in the amount of $ 1 612 500 under Credit Linked Notes issued by CRR B.V. (Netherlands).
Tatfondbank Got an Opportunity to Issue VISA Cards for Other Banks
OAO AIKB Tatfondbank has successfully completed the certification of its own processing centre for performing the direct interaction and settlements with Visa International payment system for transactions carried out with the use of Visa cards. Thus, the Bank has finished the transfer to work in its new status of the Principal Participant.
Now, having the approval of this payment system, Tatfondbank can issue and serve Visa cards for third-party banks, offering them a full range of functionality of its processing centre and network of service devices connected to it.
30 December 2008, the Central Bank of Russian Federation Registered Report on Results of Additional Issue of Shares of Tatfondbank
Two hundred million ordinary shares with par value of 10 roubles to the total amount of RUB 2 billion were placed as a result of the issue of additional shares of OAO AIKB Tatfondbank.
OAO Tatagroleasing, a company with 100% participation of the Republic of Tatarstan and a current shareholder of the Bank, has become the principal buyer. Upon the registration of the report on the results of the additional issue of shares at the Central Bank of the Russian Federation the charter capital of the Bank was increased up to RUB7.3 billion and the state-owned stake in it grew to almost 31 per cent. Thus, the republic has consolidated a blocking stake in the Bank.
‘This issue has been planned and will not change the Bank’s strategy or status in any way’ – said Kamil Yusupov, Chairman of the Board of Management of OAO AIKB Tatfondbank. ‘The Bank has and still enjoys the support of the Government of Tatarstan, which is one of its major shareholders. The attraction of additional capital will help the Bank to continue implementing its development strategy until 2010, and strengthen its soundness in the eyes of investors, partners, and customers’.
2007
February 2007
Tatfondbank Paid Next Coupon on Its Bonds
20 February 2007. JSC AIKB Tatfondbank paid the 3rd coupon on its interest-bearing bonds. The total yield on the 3rd coupon subject to payment made up RUB37,395,000. Obligations related to the payment of the 3rd coupon were performed in full.March 2007
Bonds of JSC AIKB Tatfondbank Included on Micex ‘A’ Level Quotation List
The Board of Directors of Micex (Moscow Interbank Currency Exchange) made a decision on 15 February 2007 to include the documentary interest-bearing non-convertible bearer bonds with mandatory centralised keeping of JSC AIKB Tatfondbank on the Micex ‘A’ first level quotation list under the state registration number 40303058V of 16.03.2006. Investors who buy the securities included on the quotation list of this exchange will regularly receive true and timely information on the issuing company and the market of its securities. Thus they get an opportunity to evaluate the prospects for economic development of the issuer and the quality of its securities. It is supposed that an investor who decides to invest the funds into the listed securities will automatically obtain a complete set of protection means offered by stock exchanges. The exchange carries out a preliminary expertise and assess the quality of securities and the issuer, while the company undertakes to present to the exchange the reports on its activities (quarterly reports for the Federal Financial Markets Service of Russia, financial statements of the enterprise, reports on production and investment activities, and so on). The listing makes it possible to identify the most reliable and quality securities and helps enhance their liquidity, acting as an indicator, which can be used to distinguish the securities into classes by quality (reliability). Undergoing by the Bank of the listing procedure on Micex will also contribute to increasing its capitalisation. At present, JSC Tatneft and JSC AIKB Tatfondbank are the only large organisations in the Volga Region of Russia to be present on the Micex ‘A’ first level quotation list, which fact once again confirms the Bank’s status of a vigorously developing bank offering modern and popular services.JSC AIKB Tatfondbank and Landesbank Sachsen Signed Cooperation Agreement
JSC AIKB Tatfondbank signed agreement with Landesbank Sachsen, the largest bank of Saxony, Germany. Under the agreement, the parties have agreed to unite efforts in financing of joint projects of enterprises of Tatarstan and Saxony. The agreement was signed at the plenary meeting of the Investment Forum of the Republic of Tatarstan held within the framework of Z-2007 Exhibition in Leipzig.April 2007
Tatfondbank Placed US$200 Million Worth 3-Year Eurobonds with Coupon Rate of 9.75% Per Annum
Securities were placed at par value under the Regulation S. Initially, Tatfondbank planned to place the debut issue of Eurobonds for US$150-200 million. The road-show was held in Hong Kong, Singapore, London, and Switzerland. The Trust Investment Bank and UBS act as lead managers of the issue.May 2007
Moody’s Raised Long-Term Rating of JSC AIKB Tatfondbank
4 May 2007. 4 May 2007, New York. Moody’s Investor Service published ratings for Russian banks. The agency raised Tatfondbank’s foreign currency deposit rating to B2/NP from B3/NP and its long-term national scale rating to Baa1.ru from Baa2.ru. Its E+ financial strength rating remained unchanged. Besides, Moody’s improved the Bank’s senior unsecured foreign currency debt rating to B2 from B3. The outlook for all ratings is stable. Changing the rating of Tatfondbank is connected with increased possibility of support of the Bank on the part of the Government of Tatarstan, improved financial results and stable positions in the region. The ratings of Russian banks were revised in connection with the use of a new joint default analysis methodology (JDA) and bank financial strength rating methodology (BFSR).July 2007
Bank-managed Mutual Fund of Tatfondbank Among Leaders in Country’s Most Profitable Funds Rating
The results of the 1st half of 2007 enabled the Bank-managed Mutual Fund (BMMF) of Tatfondbank to become one of the leaders of the most profitable BMMFs of Russia, despite the fact that this period was quite challenging for the collective investments market. According to RosBusinessConsulting News Agency, the Bank’s Stable Income Fund ranked 4th among the nine most profitable open bond funds, and its Russian Shares Fund ranked 8th among 26 most profitable open share funds.Tatfondbank Among Most Reliable Russian Banks
Based on the results of the 1st quarter of the year, JSC AIKB Tatfondbank ranked 18th in the 100 Most Reliable Largest Russian Banks rating of the Profile Magazine (No.24 of 25 July 2007). A year ago, the Bank ranked 21st. Reliability of the Bank was established by such parameters as capital adequacy, liquidity of the bank operations, share of the raised funds in the interbank crediting market and so on. According to Profile, the capital of Tatfondbank at 1 April totalled RUB5,400 million, and its liquid assets – RUB1,304 million.August 2007
JSC AIKB Tatfondbank Increases Charter Capital
The Central Bank of the Russian Federation registered the report on the results of additional issue of shares of Tatfondbank. The additional shares included 203 million ordinary shares at par value of RUB10. Thus, the charter capital of the Bank achieved RUB5,300 million. Before, the charter capital of Tatfondbank was RUB3,270 million).Tatfondbank on Top 5 Banks in MasterCard Mass Card Rating
JSC AIKB Tatfondbank ranked 3 rd in the MasterCard Mass Card Rating of Prime-Tass Business News Agency. The rating was prepared based on indicators of the maximum convenience for customers in issue and servicing of the plastic cards.Tatfondbank Raised International Syndicated Credit for US$36 Million
JSC AIKB Tatfondbank signed an agreement with Standard Bank Plc., London, and a syndicate of 11 foreign and Russian banks for a syndicated credit to the amount of US$36 million. The signing ceremony took place on 22 August 2007. Standard Bank Plc. acted as initial leading arranger, bookrunner and agent. The initially stated amount of the credit was US$30,000,000. The transaction was closed with resigning to the total amount of US$36,000,000. The credit rate is Libor +2.35%, and maturity is 1 year. This is the first international syndicated credit for Tatfondbank. The funds will be used for trade financing and refinancing. The syndicate included 11 creditors from 9 countries: Eurasian Development Bank, Joint Stock Commercial Bank of Moscow, OTP Bank Plc, VTB Bank (Deutschland), Closed-end Joint Stock Company International Moscow Bank, FBN Bank (UK) Ltd (lead arrangers); Commerzbank, Norvik Banka, Credit Europe Bank (arrangers); Nova Ljubljanska banka (lead manager).September 2007
BMMF “Golden Fund” of Tatfondbank Ranks 1st in Profitability Among Mixed Investment Funds
The strategy of the Fund is aimed at investing in securities issued by gold- and metal-mining enterprises, in exchange and off-exchange fixed-term contracts for precious metals, and directly in precious metals. The investment declaration of the Fund allows acquiring to its portfolio the shares on the RTS – Metals & Mining Index, the growth rate of which over the 1st half of 2007 was 21%.Tatfondbank Raised Its Status in VISA
The Board of Directors of Visa International CEMEA made a decision to raise the status of JSC AIKB Tatfondbank to “Principal Member” at its meeting in London on 13 September 2007. This has become possible due the Bank’s efforts on the implementation of programmes related to the issue and service of Visa cards. Since October 2004, when the Bank obtained the “Affiliated Member” status, it has not only successfully certified its own Processing Centre for issuing and servicing the cards of this payment system, but has also been actively introducing the new products and special offers, such as “Mobile Capital”, Visa Instant Issue cards and corporate cards, overdraft and revolving crediting, prompt issue of cards (including within one hour), and so on. Besides, Tatfondbank regularly introduces additional services, for example, “SMS-based information”, “ATM Payments”, “Cards with Individual Design”, etc. The Bank established a toll-free (in Russia) hot-line for its customers holding plastic cards of the Bank.October 2007
Tatfondbank among the Most “Branchy” Banks of Russia
As at 5 October 2007, JSC “AIKB “Tatfondbank” ranks 39th in the Top-100 rating of RosBusinessConsulting (RBK) of Russian banks having the best developed branch network. According to the Central Bank of the Russian Federation, the Bank has 10 branches, 59 additional offices, and 10 stand-alone cash desks. Also noteworthy is that, at 1 June 2007, the amount of consumer credits granted by each POS of Tatfondbank was 47.1 million roubles, and the amount of net assets, 467.03 million roubles. JSC AIKB Tatfondbank is actively expanding its presence in Russian regions. At present, the Bank has 79 separate structural divisions, including branches in Cheboksary, Perm, and Moscow, and is currently preparing the opening of its divisions in St.-Petersburg and Yekaterinburg.Tatfondbank Ranks 16th in the Rating of the Most “Factoring” Credit Institutions of Russia
JSC AIKB Tatfondbank performs factoring operations since January 2006. In 2006, the money claims to the amount of over RUB 570 million were assigned the Bank. In the 1st half year of 2007, they amounted to RUB 1,322,536,000 roubles. The growth against the results of 2006 made over 200%, which enabled the Bank to move up from No. 20 to No. 16 in the rating of Expert Agency titled “Ranking of Russian Factors by Volume of Money Claims Assigned in the 1st Half-year of 2007”. The main customers (89.8%) are small- and medium-sized businesses (food industry, auto spare parts, fuels and lubricants, building materials, consumer chemicals, etc.), while the remaining 10.2% are the large corporate customers. Today, the portfolio of factoring customers consists of 68 customers and totals RUB 446,885 million. Tatfondbank offers a broad product line of factoring services: open and closed classic factoring with recourse; reverse factoring, i.e. financing of customers’ suppliers; and factoring without recourse.November 2007
Offer of the Third Issue of Rouble Bonds Took Place
The offer of the third issue of rouble bonds of JSC AIKB Tatfondbank took place on 22 November 2007. Investors presented for redemption just 3% of the issue amount, which speaks of their trust in the Bank resting on the stable and vigorous development of the Bank.2006
June 2006
On the 8th of June 2006 the annual General Shareholders’ Meeting of OAO “AIKB “Tatfondbank” took place.
At the Meeting 96,475% of the total volume of the Bank’s placed voting shares were presented. The shareholders confirmed annual report, annual accounting including profit and loss account and also profit distribution, having listened and discussed the report of the Chairman of the Board about the financial year results, statements of the chairman of inspection commission and representative of the Bank’s auditor about the financial and economic activity and accounting auditing. Besides, the shareholders decided not pay dividends on the shares and to direct the received profit to the Bank’s funds replenishment.
At the Meeting the Board of Directors was elected, its membership was reduced to 15 persons. The Bank’s counting and auditing committees were also elected.
June 2006
OAO “AIKB “Tatfondbank” Board of Directors elected the Chairman of the Board of Directors and appointed the President of the Bank.
On the 8th of June 2006 the Meeting of the new Board of Directors took place during which Marat Akhmetov, taking up the post of the Deputy Prime Minister, Minister of agriculture of the Tatarstan Republic was elected as the Chairman of the Board of Directors.
June 2006
23.05.06 the Tatarstan Republic National Bank of the Central Bank of Russian Federation registered:
- The General Fund of Banking Management “Fund of Russian Stocks” of OAO “AIKB “Tatfondbank” (state registration No 04920581500002);
- The General Fund of Banking Management “Fund of Stable Income” of OAO “AIKB “Tatfondbank” (state registration No 04920581500003).
General funds of banking management are considered to be one of the forms of collective investing, under which private investors’ funds are combined into united fund and given to the banks for trust management at the financial markets in order to get income. Investment into general funds of banking management is regarded to be one more way to earn money at the financial markets for middle and retail investors.
May 2006
MOODY'S CHANGES OUTLOOK ON TATFONDBANK'S (RUSSIA) B3 LONG-TERM DEPOSIT RATING TO POSITIVE FROM STABLE
E+ Financial Strength Rating and ‘Not Prime’ Short-Term Deposit Rating are unaffected
Moody's Investors Service has changed the outlook on Tatfondbank's B3 long-term foreign currency deposit rating to positive from stable. The bank's Not-Prime short-term deposit rating and E+ financial strength rating have been affirmed with a stable outlook.
At the same time, Moody's Interfax Rating Agency has affirmed the bank's Baa2.ru long-term national scale credit rating. Moscow-based Moody's Interfax is majority-owned by Moody's, a leading global rating agency.
May 2006
OAO “AIKB “Tatfondbank” third bond issue for amount of 1,5 billion roubles is completely placed
On the 23rd of May 2006 OAO “AIKB “Tatfondbank” bond issue for amount of 1,5 billion roubles took place. In the course of placement 46 applications of investors were made, the total demand volume at the auction amounted to 1 906 million roubles, that exceeded the offer by 27%. The rate of the first coupon, offered by the investors ranged from 9,7% to 10,15% per annum, most of the applications were made at the rate ranged from 9,8% to 10,00%.
The rate of the first coupon, fixed by the issuer was equal to 10% per annum (24,93 roubles on each bond), the rates of the second-six coupon are equal to the rate of the first coupon, the other coupons rates are fixed by the issuer. The issue conditions provide for 1,5-year offer for prescheduled retirement of the bonds at the price of 100% from the nominal value.
April 2006
The second bond issue of OAO “AIKB “Tatfondbank” was paid off.
On the 26th of April 2006 OAO “AIKB “Tatfondbank” paid the fourth coupon on interest payable documentary bearer bonds of the second issue with the obligatory centralized keeping (the individual registered number is 40203058B) in the volume of 58 590 000 roubles that corresponds to the coupon rate of 11,75% per annum or 58,59 roubles counting on one bond at par value of 1000 roubles.
Also on the 26th of April 2006 OAO “AIKB “Tatfondbank” fully executed its obligations on paying off the second bond issue in number of 1000 000 bonds each at par value of 1000 roubles.
OAO “AIKB “Tatfondbank” bonds of the second issue for the total volume of 1 billion roubles for the circulation period 728 days were placed in April 2004.
April 2006
OAO “AIKB “Tatfondbank” assets and profit increase for the first quarter of 2006
A considerable increase of OAO “AIKB “Tatfondbank” assets and profit has occurred in the first quarter of 2006. The value of the Bank’s net assets has increased in the amount of 6 197 mln. roubles or for 29,85% in comparison with the 4th quarter of 2005.
This increase in the first quarter of 2006 mainly has occurred due to the attraction of borrowed funds by means of credit notes (CLN) and increase of legal persons’ funds on the Bank’s accounts.
The Bank’s profit has increased in the first quarter 2006 in the amount of 84 836 thousand roubles.
The profit increase is connected with the amounts of interests received by loans and income due to transactions with the securities and also by reduction of own debt instruments expenses.
April 2006
OAO “AIKB “Tatfondbank” rates 52nd position among Russian banks and 10th position among regional banks by net assets for 2005.
According to “RBC. Rating” OAO “AIKB “Tatfondbank” is traditionally among the 100 largest banks of Russia in the volume of assets and equity. In comparison with the beginning of the last year the Bank’s net assets has increased almost for 70% and now are 20,7 billion roubles. As a result we have rated the 52nd position among federal banks and the 10th position among regional Russian banks. The balance profit for 2005 has increased for 49% and amounted to 303 mln. roubles. Besides during the year a considerable equity increase has occurred and as at January, 1 2006 it was 3 557,6 mln. roubles. OAO “AIKB “Tatfondbank” rates the 49th position among the largest Russian banks in the volume of equity. These results have been achieved in spite of the greatest competition in the banking market.
March 2006
The First Deputy Chairman of the Board of OAO “AIKB “Tatfondbank” Kamil Yusupov has become a laureate of the international competition “Manager 2005 in the banking area” in the nomination “Good quality of client service”.
March 2006
On the 16th of March 2006 the Central Bank of Russian Federation registered the third issue of OAO “AIKB “Tatfondbank” interest documentary bearer bonds. The public registered number of the issue is 40303058B. Bond offering and circulation is planned to be in ZAO “MICEX”. The number of the offered securities is 1 500 000 each for the nominal value of 1000 roubles. The price of OAO “AIKB “Tatfondbank” bond offering is approved at the rate of 1 000 (one thousand) roubles. The maturity is 1 092 days. The income by the bonds will be paid as 12 quarterly coupons: the rate of the first coupon will be fixed at the auction during the offering. The planned starting date of the offering is the 2nd quarter 2006.
February 2006
Debut issue of CLN by OAO “AIKB “Tatfondbank”
OAO “AIKB “Tatfondbank” has assigned the first issue of CLN for amount of 90 mln. USD. The circulation period is two years, the rate of half-year coupon is 9,5% per annum. A put option with the time of performance in a year from the date of credit notes placement.
The demand for the issue has been considerably outgrowing the supply and has come to more than 110 mln. USD. As a result of consultations with the organizer a decision to increase the volume of CLN issue from the planned 50-70 mln. USD to 90 mln. USD was made.
The investors from Switzerland, Great Britain, Singapore, Germany, Luxemburg, Holland, Hungary, Chile, Italy, Russia, Baltic countries took part in CLN placement. With all this going on the part of the issue, placed in the western market came to more than 75%. In all more than 40 investors participated in CLN placement.
The total operation factors of the CLN issue are the following:
- Issuer – C.R.R. BV,
- Borrower – OAO “AIKB “Tatfondbank”,
- The nominal issue volume – 90 mln. USD,
- The term of credit notes circulation – 2 years,
- Put option – in a year from the date of the issue placement,
- Coupon period – 6 months,
- Coupon rate – 9,5% per annum,
- Clearing – Euroclear, Clearstream,
- ISIN: XS0245643126
The lead arranger and dealer of CLN issue is Investment Bank “Trust”.
Also the participants of CLN issue were:
Co-Managers: Reserve Invest (Cyprus) Limited and OAO Bank “Soyuz”.
January 2006
Special Shareholders Meeting made a decision to elect Dmitry Nagumanov as a new Chairman of the Board.
Mr. Yusupov was elected as the First Deputy Chairman of the Board.
A decision concerning the public offering of the third bond issue for amount of 1,5 billion roubles was made.
2005
December 2005
Processing center AIKB “Tatfondbank” was certified in the payment system “VISA International”
OAO “AIKB “Tatfondbank” has placed in operation the processing system for the service of the card products “VISA International” payment system. Processing decision “SmartVista” in OAO “AIKB “Tatfondbank” was certified by payment system “VISA International” for ATM acquiring and issue of plastic cards “VISA”. The bank successfully passed necessary tests and now is permitted to service the card products of “VISA” payment system in its ATMs and to issue its own cards “VISA”, which will be taken within the whole terminal system of the bank members of “VISA International” payment system.
December 2005
On the 19th of December 2005 the Central Bank of Russian Federation registered the report on the results of additional issue of OAO “AIKB “Tatfondbak” common uncertified nominal shares. The public register number of the issue is 10103058B007D. The number of the offered securities is 96 700 000 each for the nominal value of 10 roubles. The value of the equity capital of OAO “AIKB “Tatfondbank” is 3,27 bln RUR by results of the additional issue of the shares.
October 2005
MOODY'S ASSIGNS B3/NP/E+ RATINGS TO TATFONDBANK (RUSSIA), OUTLOOK STABLE; MOODY'S INTERFAX ASSIGNS Baa2.ru NATIONAL SCALE RATING
First-Time Ratings
Moody's Investors Service has assigned B3 long-term and 'Not-Prime' (NP) short-term foreign currency deposit ratings and an E+ (E plus) financial strength rating (FSR) to Tatfondbank (TFB). All ratings carry a stable outlook. At the same time, Moody's Interfax Rating Agency, which is majority-owned by Moody's, has assigned a Baa2.ru long-term national scale credit rating (NSR) to TFB.
According to Moody's, the ratings assigned to TFB reflect the bank's substantial track record and growing regional franchise in the Republic of Tatarstan (RT, rated Ba1 with a stable outlook), but are constrained by its small size and financial weakness which the management is, however, willing to address in order to bring the bank more in line with international standards of banking prudence. This would include reducing related-party business and conducting it on an arms-length basis, as well as improving corporate governance. Although the dynamics have been positive over the last three years, as evidenced by a substantial reduction of the share of related-party loans and a corresponding decrease in loan-loss reserve coverage, the current level is still significantly higher compared to the average among rated banks in Russia, representing a constraint on the ratings. Combating single-party and industry concentrations, reducing overheads and boosting capitalisation also represent a challenge for the management, which is keen to improve TFB's access to market sources of funding. According to Moody's, the B3/NP foreign currency deposit ratings do not incorporate support in the event of need from either the bank's beneficial owners or the Tatarstani financial authorities since, while such support cannot be ruled out, its scope and timeliness are rather uncertain.
BACKGROUND & PROFILE
TFB is headquartered in Kazan, the capital of Tatarstan, an autonomous republic within the Russian Federation. The bank was founded in 1994 by several voucher investment funds (the main privatisation vehicles in Russia in the 1990s) as a tool for acquiring shares in regional companies. Over the following years the structure of ownership has diversified and now encompasses 38 legal entities and nine individuals from the region, with many of the shareholders also being the bank's borrowers.
TFB has 31 outlets throughout Tatarstan. Its key clients come from the agriculture and food processing sectors, although it also has clients from construction, light industry, trade and finance. The bank reported total assets of US$372 million and shareholders' equity of US$28 million in accordance with IFRS as of 31 December 2004. According to Interfax, the bank ranked 60th in terms of total assets and 58th in terms of capital among Russian banks as at 1 July 2005.
August 2005
“RBK-rating” Agency has published the information about top-1000 Russian banks according to loan portfolio in the first half year 2005.
“Tatfondbank” with its loan portfolio of 11 514,3 million RUR rates 37th position.
In comparison with the beginning of the year this index increased by 25 % (41st position), since 01/04/05 – increased by 14,4% (40th position).
“RBK-rating” Agency has published the information about top-1000 Russian banks according to net assets in the first half year 2005.
Net assets of “Tatfondbank” are 15 525,8 million RUR – 59th position in the rating.
In comparison with 01/01/05 net assets increased by 26,4%, since 01/04/05 – increased by 14,7%.
“RBK-rating” Agency has published the information about top-1000 Russian banks according to deposits in the first half year 2005.
Deposits of “Tatfondbank” as at 01/07/05 are RUR 7 106,1 million – 72nd position in the rating. Since the beginning of the year these indexes increased by 17,4%, since 01/04/05 – increased by 7,4%.
“RBK-rating” Agency has published the information about top-1000 Russian banks according to balance sheet profit in the first half year 2005.
Balance sheet profit of “Tatfondbank” amounted to 145 550 thousand RUR – 76th position in the rating.
Change of this index in comparison with 01/07/04 is 55,61% - 95535,0 thousand RUR.
The index of balance sheet profit as at 01/01/05 –203670 thousand RUR, which is 71,46%.
These indexes allowed to raise the rating in comparison with 01/01/05 by 20 positions.
June 2005
Amount of deposits from private persons run up to RUR 3 billions.
A branch of AIKB “Tatfondbank” was opened in Nizhnekamsk.
May 2005On 20th of May there was an Annual General Meeting of shareholders of OAO “AIKB “Tatfondbank”, where a number of questions concerning Bank’s activity in 2004 were considered, including reports of Board of Directors, of Inspection Commission, of Bank’s auditor. The following documents were confirmed:
- 2004 Annual Report;
- Accounting Report of the Bank, including profit and loss account for 2004;
- Distribution and redistribution of profits and losses of the Bank for 2004.
The Meeting confirmed new Board of Directors and Inspection Commission.
OOO “Bankovsky Audit” was confirmed as the Bank’s auditor.
April 2005
According to the rating “TOP-300 largest banks”, published by “RosBusinessConsulting” agency, by totals of February 2005 OAO AIKB “Tatfondbank” rates 58th position in the list of largest banks of Russia, improved its rating by 4 positions in comparison with previous month.
Net assets of the Bank as at 01/03/05 are 12 579,2 million RUR.
In accordance with information, published by “RosBusinessConsulting” agency, in the rating “TOP-300 banks by loan portfolio in February 2005” OAO “AIKB “Tatfondbank” rates 42nd position with the amount of RUR 9 469,7 million of granted loans.
In the Republic of Tatarstan OAO “AIKB “TAtfondbank” rates the 2nd position according to loan portfolio.
April 2005
Tatfondbank’s balance sheet profit is 108,8 mln. RUR.
In January – March of the current year in comparison with the same period of the last year OAO “AIKB “Tatfondbank” increased the balance sheet profit by 25,6% up to 108,8 mln. RUR.
For the first quarter of the current year the Bank’s assets increased from 12,1 billion RUR up to 13,3 billion RUR, the volume of owned capital hasn’t changed that is 2,6 billion RUR, credit investments increased from 10,7 billion RUR up to 11,8 billion RUR.
Attracted funds increased from 6 billion RUR up to 6,6 billion RUR, including due to private persons from 2,3 billion RUR up to 2,6 billion RUR.
March 2005
OAO “AIKB “Tatfondbank” is among the leaders of Privolgsky Federal region.
According to the data, published by informational and analytical agency “RosBusinessConsulting” by totals of 2004 OAO “AIKB “Tatfondbank” rates the 12th position among the largest regional Russian banks and the 3rd position among the credit institutions of Privolgsky Federal region.
As at January, 1 2005 OAO “AIKB “Tatfondbank” rates the 25th position in the list of 100 most reliable Russian banks according to the rating, published by journal “Profil” where criteria of capital adequacy, liquidity, dividend of bank activity, development of client base, diversification of assets structure and their risks.
March 2005
According to the rating TOP-300, published by informational and analytical agency “RosBusinessConsulting”, OAO “AIKB “Tatfondbank” in January 2005 rates the 42nd position by the volume of given loans.
The Bank’s credit portfolio as at 01.02.2005 is 9 291.6 mln. RUR.
March 2005
OAO “AIKB “Tatfondbank” – data-open Bank.
By totals of January-February 2005 the system of analysis and monitoring “Mediology” included OAO “AIKB “Tatfondbank” in 20 top regional banks, valued by Index of Informational Favor. According to this rating OAO “AIKB “Tatfondbank” rates the 16th position.
March 2005
The Republican contest “Top manager 2004” was finished on February,28 2005.
Kamil Yusupov – the chairman of the board of OAO “AIKB “Tatfondbank” won in nomination “The best manager of financial and credit institution”.
February 2005
By totals of 2004 OAO “AIKB “Tatfondbank” is among 100 best bank of Russia
According to the rating, published by informational agency “RosBusinessConsulting” OAO “AIKB “Tatfondbank” is among the 100 top Russian banks by 3 indicators. The Bank rates the 62nd position by value of net assets, which increased by 23,84% in 2004 and the 95th position by profit, which increased in comparison with 2003 by 8,26%. OAO “AIKB “Tatfondbank” rates the 41st position by the volume of loans given to legal and private persons in 2004
2004
June 2004
The result of the Bank’s activity for the first half year of 2004 is the profit in amount of 93,5 million RUR. Since beginning of the year the Bank’s Assets increased by over 1,7 billion RUR., or by 17%, and as at July,1 2004 amounted in 11,5 billion RUR.
During the first half year of 2004 the Bank continued to attract and place funds.
The sum of attracted clients’ funds as at July,1 exceeded 2 billion RUR, and in comparison with January,1 2004 increased by over 480 million RUR or by 31%. Clients’ confidence is one of the basic values of OAO “AIKB Tatfondbank” and it is considered to be one of the first banks in the Republic of Tatarstan to apply for the entry to the deposit security system in April 2004.
The Bank continued issue of own bonds. As at July,1 of the current year the balance of paper circulation amounted in 1,4 billion RUR; and the balance of own bonds amounted in 1 billion RUR.
For the 6 months of the current year the Bank’s credit portfolio increased by 2 billion RUR or by 27% and exceeded 9,5 billion RUR.
In accordance with the supreme ratings as at May,1 2004 JSICB “Tatfondbank” ranks 48th on the list of top 100 largest banks as per amount of its assets and 44th as per the volume of equity (journal “Profil” No 24 of June,28 – July,4 2004).
April 2004
On April, 9 2004 the Central Bank of Russian Federation registered the second issue of the interest documentary coupon bonds, issued by JSICB “Tatfondbank” The period of circulation is 728 days.
March 2004
There was opened a branch of JSICB “Tatfondbank” in Chistopol
2003
January
In December 2002, OAO AIKB Tatfondbank ranked 27th on the list of the leading operators of the market of state treasury bills and federal loan bonds.
February
In January 2003, OAO AIKB Tatfondbank ranked 23rd on the list of the leading operators of the market of state treasury bills and federal loan bonds.
The Meeting of the Board of Directors of OAO AIKB Tatfondbank was held at the end of January, which considered the issues suggested by the Bank’s shareholders for inclusion on the agenda of the annual general meeting of shareholders and made and approved a list of candidate members of the Board of Directors for 2003. The number of members of the Board of Directors shall be considered by shareholders at the annual meeting, the date of which will be specified at the next meeting of the Board of Directors. Besides, the meeting also decided to issue interest-bearing documentary bearer bonds with the issue of a global certificate.
The Bank’s performance in 2002 brought profit in the amount of RUR 117 million. The Bank’s assets grew from the beginning of the year by RUR 3 059 million, or by 61%. The growth is due to almost two-times increase in the volume of the extended loans and discounted promissory notes (by RUR 2 816 million). Besides, according to Profile Magazine (No.4 of 27.01.2003), OAO AIKB Tatfondbank ranks 32nd on the list of largest Russian banks in capital. Thus, the results of the Bank’s activities prove the efforts made to justify the trust of the Bank’s customers and depositors. These efforts helped increase the volume of the attracted funds more than 2-fold over the year to RUR 571 million as at 1 January 2003.
In February, it will be a year since the Bank launched its programme of external financing. The Bank implements this programme by placing its own promissory notes through Region Investment Company, the largest operator of the Russian market of promissory notes. The year of fruitful work brought over RUR 1 360 million, of which RUR 600 million were repaid, the minimum balance of promissory notes in circulation is over RUR 700 million. At present, the monthly volume of the attracted funds is about RUR 200 million invested by more than 80 Russian investors. The promissory notes for payment can be presented in the Region Investment Company in Moscow and in the branch of OAO AIKB Tatfondbank in Naberezhnye Chelny, which simplifies significantly the promissory notes repayment procedure. The quotes for promissory notes of OAO AIKB Tatfondbank can be seen in the National Quotation System, Russian Over-the-counter Network, Over-the-counter promissory note system (Finmarket), SibTorg.ru Information Trade System, and on the web-site of Region Investment Company.
The meeting of the Board of Directors of OAO AIKB Tatfondbank was held on 21 February, which considered the issue of setting the date of the annual general meeting of shareholders of the Bank and the date of closing the register of shareholders. It was decided to specify 28 March 2003 as the date of the general meeting. The register of shareholders was closed on 28 February 2003.
March
In February 2003, OAO AIKB Tatfondbank ranked 28th on the list of the leading operators of the market of state treasury bills and federal loan bonds.
On 27 March, Tatfondbank won the competition on predicting the yield of OFZ (federal loan bonds) of 45002 series organised by Reuters news agency. Reuters stated that no one managed to predict correctly the weighted average auction yield on OFZ of 45002 series, which made up 9.13 per cent. per annum. Ilnar Abdulmanov, a specialist of the stock and trust transactions department of OAO AIKB Tatfondbank, was named the winner of the competition, who made the most correct prediction: 9.09 per cent. The winner has received an award: multifunctional wall clock with Reuters marks.
The annual general meeting of shareholders of OAO AIKB Tatfondbank was held on 28 March. The meeting considered the related to the Bank’s performance in 2002, including the reports of the Board of Directors of OAO AIKB Tatfondbank, the auditing commission, and the Bank’s auditor. Te meeting approved the following documents: the annual report, accounting statements for 2002, distribution of the Bank’s profit and losses for 2002. The meeting approved the new composition of the Board of Directors of 15 members. The meeting approved OOO Bankovsky Audit as the bank’s auditor.
April
In March 2003, OAO AIKB Tatfondbank ranked 15th on the list of the leading operators of the market of state treasury bills and federal loan bonds.
On 11 April 2003, the Central Bank of Russia registered the first issue of interest-bearing documentary bearer bonds issued by OAO AIKB Tatfondbank. This is the first issue of debt securities of a credit institution in Tatarstan, the placement and circulation of which has taken place at MICEX, the Russia’s largest stock exchange. The state registration number of the issue is 20103058B. The maturity period is 365 days. Income on the bonds shall be paid in the form of 2 semi-annual coupons, the rate for the first one being 17% per annum and 16.75% per annum for the second one.
At 21.04.2003, the amount of attracted funds exceeded RUR 2 billion, of which some 900 million were repaid, the balance of the promissory notes in circulation being over 1 billion. The monthly volume of the attracted funds currently makes up about RUR 300 million invested by more than 80 Russian investors. The promissory notes for payment can be presented in the Region Investment Company in Moscow and in the branch of OAO AIKB Tatfondbank in Naberezhnye Chelny, which simplifies significantly the promissory notes repayment procedure. The quotes for promissory notes of OAO AIKB Tatfondbank can be seen in the National Quotation System, Russian Over-the-counter Network, Over-the-counter promissory note system (Finmarket), SibTorg.ru Information Trade System, and on the web-site of Region Investment Company.
May
The placement of the first issue of interest-bearing documentary bearer bonds of OAO AIKB Tatfondbank has been completed successfully at Moscow Interbank Currency Exchange on 15 May. The state registration number is 20103058B.
The offering price determined in the course of the auction made up 101.32% of the nominal value, which corresponds to the yield to maturity at the level of 16% per annum. The demand for the bonds has exceeded significantly the offer. ZAO Region Investment Company acted as the arranger and underwriter of the loan, and AKB Promsvyazbank acted as co-arranger and co-underwriter.
The Bank’s financial performance in the first quarter of 2003:
- profit: RUR 121 million.
- Balance sheet total grew by 13% and exceeded RUR 10 billion.
The trust displayed by the population and the advantageous conditions offered for deposits allowed the Bank to increase the amount of attracted cash funds of individuals by 28%. At 1 April, the retail deposits totalled RUR 734 million.
Lending remains to be the priority area of the Bank’s activity and shows a steady growth tendency. In the first quarter, the lending portfolio increased by over 20%. As a result, the amount of loans provided by the Bank as at the end of the quarter totalled over RUR 7.8 billion.
June
On 10 June 2003, the Central Bank of Russia has registered a report on the results of the first issue of bonds of OAO AIKB Tatfondbank in the total amount of RUR 500 million (state registration number 40103058B).
500 000 (five hundred thousand) interest-bearing documentary bearer bonds with nominal value of 1000 (one thousand) roubles maturing on the 365th day from the placement date have been placed within the first issue. The offering price determined in the course of the auction made up 101.32% of the nominal value. Full report on the results of the first bond issue is available on the financial indicators page.
July
In June 2003, OAO AIKB Tatfondbank remained 20th on the list of the leading operators of the market of state treasury bills and federal loan bonds.
The Bank’s performance in the 1st half of 2003 brought profit in the amount of RUR 141 million. The Bank’s assets grew from the beginning of the year by RUR 1 740 million, or by 19%.
The amount of funds attracted from individuals has grown by RUR 370 million over 6 months and totalled RUR 941 million.
The amount of funds attracted from legal entities has also grown due to the placement of the Bank’s debt obligations for RUR 1 051 million (including the issue of bonds for RUR 500 million). Thus, the amount of the Bank’s debt obligations in issue totalled at 1 July 2003 RUR 2 564 million.
At 1 June 2003, OAO AIKB Tatfondbank ranked 34th on the list of the largest Russian banks in terms of capital and 42nd in net assets (Profile Magazine No. 28 of 21.07.2003).
On 24 July 2003, the Naberezhnye Chelny branch of OAO AIKB Tatfondbank issued the 1000th card of the Golden Crown payment system. The card was issued to Alexandr Todorov, an employee of Raduga health and leisure complex. Over the period from the opening of the branch in Naberezhnye Chelny (in April 2003), the branch implemented 17 payroll projects at enterprises of the city, installed and launched twenty-four-hour ATMs and cash points.
August
The funds attracted by the Bank to deposits from individuals in the first half of the year grew by RUR 382.9 million. Deposits in US dollars and Euros have also grown, by US$ 899 493 and EUR 420 327, respectively.
The growth of the attracted funds was ensured mainly by the growth of rouble-denominated deposits, which totalled at the end of July 2003 RUR 653.5 million as a result of offering new, favourable interest rates to the population and a vigorous advertising campaign in mass media. The total amount of funds attracted by the Bank at 1 August exceeded RUR 1 billion in rouble equivalent.
Very popular with the Bank’s customers are car loans. Over 800 agreements have been concluded to date for a total of some RUR 37 million. Car loans are provided in foreign currency as well, their amount to date being USD 2 980 thousand.
On 1 April 2003, Tatfondbank concluded a general factoring agreement with OOO DOMO-Electronics. To date, the agreements were concluded with 6 200 people for a total amount of over RUR 70 million. This method of lending provides an opportunity to issue a loan in a very short period of time and in a form most convenient for individuals.
September
On 3rd September 2003, OAO AIKB Tatfondbank obtained a membership card of the Chamber of Commerce and Industry of the Republic of Tatarstan No. 539-1170, which states that OAO AIKB Tatfondbank has been a member of the Chamber of Commerce and Industry of the Republic of Tatarstan and the Chamber of Commerce and Industry of the Russian Federation from 2003.
The exchange committee of the Moscow Interbank Currency Exchange has included at its meeting on 03.09.2003 the interest-bearing documentary bearer bonds of the first issue with mandatory centralised keeping (No. 30103058B) of OAO AIKB Tatfondbank on the MICEX Quotation List B.
This makes the bearer bonds of OAO AIKB Tatfondbank more reliable and attractive for investors.
November
On 13 November 2003, OAO AIKB Tatfondbank pays out the coupon yield on its own bonds (Reg. No. 40103058B). The amount paid per one bond is 84 roubles 77 kopecks. The total amount paid was RUR 42 385 000. The trade in bonds of this issue resumed at the Moscow Currency Exchange also on 13 November.
December
In December 2003, the aggregate amount of funds attracted by OAO AIKB Tatfondbank through Region Investment Company within the promissory notes programme launched in February 2002 has exceeded RUR 3 billion, of which RUR 2 billion were attracted in 2003, which is 2-times more compared to figures of previous year. The minimum balance of the outstanding promissory notes currently makes up some RUR 1 billion.
The quotes for promissory notes of OAO AIKB Tatfondbank can be seen in the National Quotation System, Russian Over-the-counter Network, Over-the-counter promissory note system (Finmarket), SibTorg.ru Information Trade System, and on the web-site of Region Investment Company.
2002
January
In 2001, the balance-sheet profit of OAO Tatfondbank totalled RUR 89 million. The expansion of the client base contributed to the growth of the number of the Bank’s customers from 1 300 to 2 000. As a result, the total amount of the attracted customer funds grew more than 2-fold and totalled RUR 3.2 billion. The Bank’s lending portfolio grew up to RUR 3.6 billion.
The Bank installed ATMs (Union Card payment system) at: 43/2, Ukhtomsky Street (Bank’s head-office) and 56, Levobulachnaya Street (Bank’s additional office).
February
From 1 March 2002, OAO AIKB Tatfondbank has reduced the tariffs for provision of brokerage services. The bank approved a new wording of the Appendix 2, titled Commission of OAO AIKB Tatfondbank for Performance of Transactions with Securities in MICEX Trade Systems, to the Rules of Provision of Brokerage Services by OAO AIKB Tatfondbank in Government Securities Market and Stock Section.
An extraordinary General Meeting of Shareholders of OAO AIKB Tatfondbank was held on 28 February 2002. The Bank’s shareholders made a unanimous decision to increase the charter capital by RUR 1 652 million. At present, the charter capital is RUR 651 million. This issue will be the seventh one.
March
OAO AIKB Tatfondbank began issuing plastic cards of Europay/MasterCard international payment system for Bank Zenit. To further improve the servicing of customers holding Union Card plastic cards, OAO AIKB Tatfondbank opened new cash points in Kazan at: 8, Esperanto Street, 34, Sibirsky Trakt, and 3, Khlebozavoskaya Street.
April
In the first quarter of 2002 the balance-sheet profit of OAO AIKB Tatfondbank totalled RUR 48.9 million. The growth of the Bank’s assets over the elapsed period made up 21% and its balance-sheet total exceeded, as at 1 April 2002, RUR 6.8 billion. This growth was ensured by the increase of the resource base through the issue of the Bank’s certificates and attraction of funds of both corporate and individual customers to deposits.
OAO AIKB Tatfondbank launched the placement of its promissory notes in the Russian market acting through Region Investment Company, the largest operator of the Russian market of promissory notes. The first quotes of the promissory notes were obtained on 6 February 2002 in the National Quotation System, Russian Over-the-counter Network, Over-the-counter promissory note system (Finmarket), SibTorg.ru Information Trade System, and on the web-site of Region Investment Company. Now, investing in highly reliable and profitable promissory notes of our Bank has become possible not only to investors from Tatarstan, but to investors from the other regions of Russia.
May
The Bank has launched a new electronic document management system, Internet-Client, for convenience of its customers. Connection to the system is via the Internet. The Bank’s customers can now transfer to the Bank and obtain from it the required documents, such as account statements, applications, payment instructions, any text messages at any time convenient for them.
June
The Annual General Meeting of Shareholders of OAO AIKB Tatfondbank was held in June. The Meeting considered the reports of the Board of Directors of OAO AIKB Tatfondbank, the Audit Commission, and the Auditor of the Bank for 2001. The following documents were approved:
- the Bank’s annual report;
- the Bank’s accounting statements for 2001;
- the distribution of the Bank’s profit and loss for 2001;
- the Charter of OAO AIKB Tatfondbank in the new wording to meet the requirements of the Federal Law “On Joint-Stock Companies”.
The Meeting approved the new composition of the Board of Directors, which was enlarged from 15 to 19 members. The first meeting of the Board of Directors held on the same day elected Rinat Gubaydullin Chairman of the Board of Directors. OOO Bankovsky Aurdit was approved as the Auditor of the Bank.
In June, the central Bank of Russia has registered the seventh issue of ordinary registered shares of OAO AIKB Tatfondbank. The issue was registered by the Central bank of Russia on 3 June 2002 under the state registration number 10103058B. The volume of the issue is 165 200 000. The nominal value of one share is 10 roubles. The selling price is at nominal value.
July
Attention of the holders of Union Card plastic cards. The Bank plans to install ATMs in Kazan at: 13, Mushtari Street (TISBI), and 3, Khlebozavodskaya Street (OAO Kazanzernoprodukt), as well as cash points at OAO Khiton (9a, Tretya Klenovaya Street) and in the Bank’s Zelenodolsk Branch (59, Lenin Street). In August, Tatfondbank plans to start issuing plastic cards of the Golden Crown payment system. The Bank reduced tariffs for servicing the plastic cards of all payment systems offered by the Bank, and namely: Union Card, Europay/MasterCard, and Visa.
The Bank’s performance in the first half of 2002 brought profit in the amount of RUR 76 million. The volume of the extended loans and discounted promissory notes has grown over six months by 27%, totalling RUR 4 857 million at 1 July 2002. The Bank’s balance-sheet balance (acc. to Form No.101) has increased from the beginning of the year by 17% up to RUR 6 587 million. The retail deposits have also grown over the reporting period by 20% up to RUR 326 million.
August
In August 2002, OAO AIKB Tatfondbank has completed the seventh issue of its ordinary shares to the total amount of RUR 1 652 million. On 22 August 2002, the Central Bank of Russia has registered the report on the results of the seventh issue of the Bank’s shares. Thus, the Bank’s charter capital has grown more than 3.5-fold and totalled RUR 2 303 million.
September
The results shown in August 2002 placed OAO AIKB Tatfondbank to the 19th place on the list of the leading operators of the market of state treasury bills and federal loan bonds.
October
In September 2002, OAO AIKB Tatfondbank ranked 23rd on the list of the leading operators of the market of state treasury bills and federal loan bonds.
The Bank’s performance in 9 months of 2002 brought profit in the amount of RUR 114 million. The Bank’s lending portfolio, including the discounted promissory notes, has grown from the beginning of the year by 81%, exceeding at 1 October 2002 RUR 6 800 million. The Bank’s equity made up RUR 2 398 million.
November
In October 2002, OAO AIKB Tatfondbank ranked 22nd on the list of the leading operators of the market of state treasury bills and federal loan bonds.
The Bank has launched Telephone-Client system providing its customers with information on the Bank, on balances on personal accounts and account statements with the help of a telephone or a fax message.
December
In November 2002, OAO AIKB Tatfondbank ranked 24th on the list of the leading operators of the market of state treasury bills and federal loan bonds.
2001
March
New service available to the Bank’s customers, who can now receive (free of charge) statements of account by e-mail. To take advantage of the service, a customer needs to hand over a statement to an account manager containing the address to which e-mail messages will be sent.
April
The Bank of Russia registered report on the results of issue of shares. The 6th issue represented the placement of 25 000 000 ordinary uncertified registered shares with nominal value of 10 roubles (offering price of 10 roubles). The state registration number of the securities: 10103058B. The Bank’s charter capital, following the 6th issue of shares, totalled RUR 651 000 000.
A new building of an additional office of Tatfondbank opened in Buinsk, Republic of Tatarstan.
The Bank’s equity increased from RUR 418.8 million to RUR 679.2 million following the sixth issue of shares, which resulted in the growth of the Bank’s charter capital from RUR 401 million to RUR 651 million.
May
The Bank completed the first phase of the project for the automation of import of the payment documents with the help of a scanner on the basis of ABBYY Fine Reader Bank product. The ABBYY Fine Reader Bank optical recognition system is intended for the automated import of the payment documents of legal entities into the information systems with the help of a scanner.
The Bank’s rating: according to Profile Magazine (rating of Russian banks as at 1 May 2001), the Bank is on the list of top 100 largest Russian banks. In terms of equity, Tatfondbank ranks 66th, and 69th in the net assets. The Bank’s positions among banks of the Republic of Tatarstan as at 1 May 2001 (the Bank’s position as at 1 January 2001 is given in brackets):
| Basic indices | Bank’s position | Value* (RUR million) |
| Balance sheet total | 2nd (2) | 3 506.4 |
| Equity | 2nd (4) | 679.2 |
| Corporate deposits | 1st (1) | 1 632,2 |
| Retail deposits | 2nd (2) | 191.2 |
| Loans to the economy | 2nd (2) | 2 050.9 |
| Balance sheet profit | 3rd (3) | 25.5 |
* The data is from the monthly supplement to the ‘Banki i Finansy’ (‘Banks and Finance’) information and analytic bulletin (No. 6 (32), 2001).
June
In May 2001, the Bank’s total borrowings grew by RUR 641.5 million, currently making up RUR 2 949.3 million. The increase is mainly explained by the growth of deposits of legal entities. The attracted additional funds were used mainly to extend loans to legal entities: the growth of loans issued to legal entities in May 2001 was RUR 467 million. The main borrowers in that month were OAO Nizhnekamskneftekhim, OAO Tatmetall, OAO Kazanzernoprodukt, agricultural producers of the Republic of Tatarstan, and so on. According to the Resolution of the Cabinet of Ministers of the Republic of Tatarstan No. 883 of 23.12.2000, OAO AIKB Tatfondbank has become one of the authorised banks for the implementation of a programme of crediting the agricultural producers for the purposes of working capital financing (for purchase of fuels and lubricants, and mineral fertlisers). As at 1 June 2001, the loans provided by the Bank under this programme totalled RUR 309.7 million.
The profit earned by the Bank in the second quarter of 2001 totalled RUR 26 580 thousand, which is by 36% more compared to the profit earned in the first quarter of the current year. The Bank’s balance-sheet total for the first half of 2001 grew 1.8-fold: from RUR 2 460 million to RUR 4 485 million.
OAO AIKB Tatfondbank was awarded by the Nizhny Novgorod Currency and Stock Exchange for the second place in the category ‘Range of participation in the government securities market in 2000.
August
The Bank intensified its activities aimed at increasing its government securities portfolio. Its volume has grown over 2-fold: from RUR 106.6 million (as at 01.07.2001) to RUR 219.7 million (as at 01.08.2001).
September
Tatfondbank began issuing plastic cards of Union Card payment system. A cash point was opened in the head-office of the Bank at 43/2, Ukhtomsky Street. The Bank offers its customers, individual and corporate, the opening of card accounts.
Tatfondbank offers new types of retail deposits: ‘Budgetary’ (for people engaged in public sector) and ‘Pension’ with the higher interest rate. Deposits are taken in all deposit-taking points of Tatfondbank in Kazan and the Republic of Tatarstan in general.
Tatfondbank has become a subscriber of the Reuters Dealing System. The dealing code of Tatfondbank is BTFB.
October
The results of Tatfondbank’s activities in 9 months of the current year are as follows:
- balance-sheet profit totalled RUR 81 million;
- the number of customers grew from 1 300 to 2 000;
- customer accounts grew over 2.5-fold from the beginning of the year and totalled RUR 2.8 billion;
- the vigorous credit policy resulted in the growth of the lending portfolio up to RUR 3.3 billion.
November
The balance-sheet total of OAO AIKB Tatfondbank increased in October 2001 from RUR 5 479 million to RUR 6 008 million. The growth is due to the placement of funds additionally attracted from legal entities to fixed-term deposits and due to the issue of promissory notes (their volume grew from RUR 3 276 million to RUR 3 915 million). The balance-sheet profit grew in October of the current year from RUR 81 million to RUR 94 million.
2000
June
The General Meeting of Shareholders of the Bank held. The Bank’s performance in 1999 considered. The new wording of the Charter approved.
August
Tatfondbank celebrates its 6th anniversary on 24 August. Bonuses paid to the entire staff and valuable gifts presented to ‘veterans’ at official general meeting of the Bank.
September
The General Meeting of Shareholders of the Bank held. The Bank’s Charter amended. The charter capital formed and totalled RUR 401 million.
October
An additional office of Tatfondbank registered and opened in Yelabuga, Republic of Tatarstan.
The Meeting of the Board of Directors held on 24 October 2000. Decision made to hold an extraordinary General Meeting of Shareholders on 9 November 2000.
November
The General Meeting of Shareholders of the Bank held on 9 November 2000. Decision made to increase the charter capital of the Bank up to RUR 651 million by placement of additional registered shares. Type of placement: public offering.
Official ceremony of opening an additional office of OAO AIKB Tatfondbank took place in Naberezhnye Chelny on 16 November 2000.
1999
July
The fourth issue of the Bank’s shares took place in the period from October 1998 to July 1999 and its charter capital was increased up to RUR 201 million.
September
The General Meeting of Shareholders made a decision to increase the charter capital up to RUR 401 million.
November
An additional office of OAO AIKB Tatfondbank registered and opened on 1 November 1999 in Buinsk, Republic of Tatarstan.
December
The Bank’s branch No. 3058/1 registered in Zelenodolsk, Republic of Tatarstan.
1998
February
Obtaining the licence of a professional participant of the securities market No.16300019211400 of 27.02.1998.
November
The Government of the Republic of Tatarstan entrusts AIKB Tatfondbank to lend investment projects of enterprises and organisations that have favourable expert opinion from the research and development funds.
1997
July
AIKB Tatfondbank launches its note-backed lending programme.
October
Obtaining the licence to perform operations in foreign currencies No.3058 of 17.10.1997 issued by the Central Bank of the Russian Federation.
1996
November
The Bank obtained the status of an official dealer in the republic’s commercial paper market.
December
The third issue of the Bank’s shares and the increase of the charter capital up to RUR 40 million.
1995
July
The General Meeting of Shareholders made a decision to transform AIKB Tatfondbank into open-end joint stock company.
November
The second issue of the Bank’s shares took place in October-November 1995 and its charter capital was increased up to RUR 6 million.
1994
August
A decision to establish AIKB Tatfondbank was made on 28 April 1994. The license of the Central Bank of the Russian Federation No.3058 of 17.10.1994 to perform banking operations was obtained. The Bank’s charter capital at its inception was RUR 500,000.
OAO AIKB Tatfondbank is a member of ABISS