Andrey Shlyahovoy: “Dalcombank successfully reached established targets”.

Main topics for discussion were half year results of Dalcombank financial performance and prospects of AFK Sistema banking group development, also Dalcombank retail business and its targets and goals were reviewed. The management of the bank has been given a task to create “lightweight” regional network, to promote retail banking products and concentrate on personnel training for remote regions.

The President of “MBRD” and Chairman of the Board of Directors, Andrey Shlyakhovoy, mentioned that Dalcombank in first half year of 2011 demonstrated quick growth of business and successfully fulfilled established goals. “Today the key business  directions for  Dalcombank remain promotion of retail business and encouraging our customers to use complex packages of services including banking products salary projects customers. Besides it is necessary to create “lightweight” network of offices - small mini-offices with automated cash registers”, - the founder of Dalcombank remarked.

Deputy Chairman of MBRD Board Yakov Ivanovich Gembukh reported on prospects of business development in terms of diversified corporation AFK “Sistema”, processes of integration and potential of MBRD and Dalcombank regional network. “For the purposes of banking processes integration of AFK “Sistema” participants MBRD has started a transition to Dalcombank IT platforms – IBSO and RBO”, - Yakov Ivanovich informed.

Andrey Kuleshov, Dalcombank Chairman of the Board reported: “We are very pleased with Dalcombank performance in first half of 2011: the capital of the bank has increased, there were positive changes in regional network performance, and the main result of our work – the profit reached 115 million rubles. However in spite of positive half year financial results, achieved by the bank, we are aiming for exceeding established targets and increasing of business volumes”.

Background:

Open joint stock company “Dalcombank” was established on 15th of December 1988, on April 25, 1989 State Bank of USSR registered the charter of the Bank under number 84. Dalcombank has become first commercial bank in the Russian Far East. Since 2008 Dalcombank has been a part of AFK Sistema banking group (along with MBRD and East-West United Bank), largest public diversified corporation in Russia and CIS, managing fast growing services providing companies.
Dalcombank is a participant of national payment system “Golden Crown” (from 1998), a leader of non-cash operations in Golden Crown system. Besides Dalcombank is a participant of Master Card and Visa payment systems. According to results of 2010 Dalcombank was bank № 42 in Russia among card services providers.
Dalcombank received a few nominations as “Best regional bank” by “Banking” magazine. Dalcombank was assigned B+ , Stable Outlook, Long-term Issuer Default (IDR), Long-term Issuer Default (IDR) “B”, support rating “4”, individual rating “E” and National Long-term A-by Fitch Ratings. “Expert RA” rating agency has assigned “BB+” rating to “Dalcombank” (acceptable level of risk management). According to 2010 results Dalcombank occupies 54th position in ‘Interfax’ rating of “Russian banks. Volume and structure of liabilities”.
Dalcombank keeps leading positions in a region due to its extensive branch network: as of 1st of July 2011 Dalcombank regional network is represented by 70 offices in over 35 towns of 8 regions of Russian Federation: Amursk, Irkutsk, Sakhalin regions, Jewish autonomous region, Primorskiy, Khabarovsk, Zabaikalsk regions and Sakha republic. RBC rating included Dalcombank into list of bank’s with most extensive branch network (58th position) and number of ATMs in Russia (49th position). Since 18th of October 2008 Dalcombank entered the list of banks that can be guarantors for the loans granted by Bank of Russia.
Dalcombank financial results as of 01.01.2011 (compared with 2009 results):
- Total assets – 37,9 billion rubles (+20%);
- Bank capital – 1,98 billion rubles (-5%);
- Credit portfolio – 16,4 billion rubles (+16%);
- Retail loans portfolio – 8,2 billion rubles (+23%);
- Deposits – 22,4 billion rubles (increased 1,3 times);
- Deposits of physical persons – 16,4 billions (+29%).
According to half year results Dalcombank capital has increased for 1 billion rubles and totaled to 3 billion rubles. Credit portfolio totaled to 19 billion rubles. Half year profit for 2011 is equivalent to 115,7 million rubles.