Новости (News)

OJSC VTB Leasing Announces Results for 9 Months of 2011

Tue, 13 Dec 2011 00:00:00 +0300

OJSC VTB Leasing publishes its unaudited financial operating results compiled in compliance with International Financial Reporting Standards (IFRS) as of September 30, 2011.

MAIN FINANCIAL HIGHLIGHTS (for 9 months 2011) are as follows:

Revenue from core operations was 7.6 bn rubles
Net income (under IFRS) was 1.7 bn rubles
Net interest income was 1.2 bn rubles
Company’s capital was 11.4 bn rubles
Company’s assets were 175.8 bn rubles

Net investment in leasing as of September 30, 2011 was 119.4 bn rubles – an increase of +39% compared to September 30, 2010. Consolidated leasing portfolio (amount of client liabilities under leasing contracts less leasing payments already made) including transactions of OJSC VTB Leasing and its subsidiaries at the end of 9 months of 2011 was 151.8 bn rubles. Amount of leasing payments received was 79.9 bn rubles.

Key sectors in the industry breakdown of leasing portfolio as of end of 9 months of 2011 were:

· Rolling stock and railroad transport equipment - 61.8% of the total portfolio (166,7 bn rubles);

· Aircraft equipment – 22.2% of the total (59.9 bn rubles);

· Oil production and processing equipment – 6.3% (17.1 bn rubles);

· Power generation and machine-building equipment - 2.9 % (7.9 bn rubles)

· Real estate – 2.9% of the total, or 7.8 bn rubles.

In the list of important transactions the Company entered into in Q3 2011 we should mention the contract for delivery of leading-edge equipment – TEM8 single-unit eight-axle diesel-electric locomotives for OOO Mechel-Trans Vostok company. These locomotives were purpose-developed for operation in mountainous conditions. Another notable transaction includes a contract with Magnezit group for leasing of industrial equipment and acquisition and leasing of a non-residential real estate property with total floor space of 54,050 square meters (this property is known as Leiptsig Retail Center).

In September 2011 a large transaction was entered into with Magnezit Group of companies. Industrial equipment was leased under this contract.

Mr. A. Konoplev, CEO of VTB Leasing, said: “Taking into account the continuing presence of negative trends in global and national economies including a lack of balance between demand and supply and also decrease of funding available from financial institutions for various transactions, VTB Leasing continues entering into large-scale transactions: structured deals involving long-term leasing that are unique in their nature.

Our company continuously exercises its policy for business diversification – both for geographic distribution of transactions and for types of property leased; we are actively entering new lines of business – such as leasing of real estate; we are equally active in developing our existing lines of business such as aircraft leasing and leasing of rolling stock”.

Cooperation with Magnezit Group

Mon, 12 Dec 2011 00:00:00 +0300

In Q3 2011 OJSC VTB Leasing and Magnezit Group signed 4 leasing contracts for a total value of 1.5 bn rubles.

VTB Leasing has leased to its client 4 production lines. This manufacturing equipment gives the client a full-cycle production facility for production of densely-sintered clinker. These fixed assets are leased to the client under an investment program of Magnezit Group. The maturity of this leasing transaction is 7 years.

This project is a complex structured transaction: over 20 Russian and foreign companies supply equipment for the production lines. Equipment manufacturing is performed using design documentation custom-developed by the leading design bureaus of the Russian Federation. Delivery, assembly and installation of equipment is scheduled to take 12 months. Equipment will be commissioned into operation after detailed launch and start-up work and acceptance testing to be performed by employees of equipment manufacturing plants and employees of the Rostehnadzor (Russian industrial objects supervision board); employees of Magnezit Group will receive training in operation and maintenance of leased equipment.

As a result of this project Magnezit Group will create a unique production facility that will have no equals in Russia and CIS countries and that will meet the most stringent standards for environmental safety. Implementation of this project will increase the production of the Group’s production facility for manufacturing of periclase (magnesia) clinker compared to present production levels by a factor of over 2.5X – to 130,000 tons per annum.

According to Mr. A. Konoplev, CEO of VTB Leasing, “Considering the project’s parameters and lack of precedent of similar transactions in Russia – we believe this leasing transaction is truly unique. It also confirms the capabilities and willingness of VTB Leasing to enter into leasing transactions of any degree of complexity with its clients. By financing this transaction, VTB Leasing makes its contribution towards developing the real sector of Russian economy – and growth of the real sector is the foundation for improvement of economic situation in Russia”.

Reference information:

Magnezit Group is a recognized global leader in production of magnesium products. For many years the company supplies its products to the base materials sector of the Russian industry (primarily – to metals producers). Magnezit Group includes 15 companies in Russia, China, Germany and Slovakia.

Annual VTB Sports Tournament Held

Wed, 14 Sep 2011 00:00:00 +0400

On September 10 at the Luzhniki sports complex the VII VTB Sports Tournament was held. It is an annual corporate event with over 80 participating teams from Russian federal districts, branches of the Bank and VTB Group companies (including Bank of Moscow and Transcredit bank).

The team of OJSC VTB Leasing was actively participating in mini-football, volleyball, streetball tournaments, in 500 meters and 1000 meters running competitions, in a 4x100 relay race, carting, chess and bowling tournaments. Our team won the top place in mini-football and volleyball tournaments.

In addition to competitions in 11 different sports the corporate event included also sports-related entertainment competitions for the “fans and supporters” – VTB employees and their family members.

The Tournament once again allowed VTB employees to prove their team spirit, team cohesiveness and capability to achieve their objectives.

OJSC VTB Leasing Announces H1 2011 Results

Wed, 07 Sep 2011 12:17:21 +0400

OJSC VTB Leasing announced unaudited results of operations (under IFRS) as of June 30, 2011.

MAIN FINANCIAL INDICATORS:

Revenue from core operations: 5.5 bn. rubles
Net profit, H1 2011 (under IFRS): 1.1 bn. rubles
Net interest income: 1.3 bn. rubles
Company’s equity: 11.1 bn. rubles
Assets at the end of H1 2011 were 144.4 bn. rubles

Net investment in leasing (as of June 30, 2011) was 89.5 bn. rubles or 2.4% higher than as of 30 June 2010.

Consolidated portfolio (aggregate amount of client liabilities under leasing contracts less leasing payments already made) including transactions entered into by OJSC VTB Leasing and its subsidiaries was 211.6 bn. rubles in H1 2011.

Volume of new business in H1 2011 was 76.5 bn. rubles. Amount of leasing payments received was 49 bn. rubles.

Leasing portfolio breakdown by industry (as of end H1 2011) indicates that the key segments are:

· Rolling stock leasing - 63.6% of total or 134.7 bn. rubles;

· Aircraft and aviation equipment – 21.4% (45.4 bn. rubles);

· Oil production and refining equipment – 7.4% (15.6 bn. rubles);

· Power generation and machine-building equipment – 3.8% (8 bn. rubles).

Commenting on the results of operations reported by OJSC VTB Leasing in H1 2011, Mr. A.Konoplev, CEO of the company, said:

“Against the backdrop of economic growth returning to the global – and Russian – economies, we see growing demand for leasing services and in first half of 2011 this growth continued at a robust and confident pace.

Performance numbers that VTB Leasing achieved in 6 months of 2011 indicate that our company maintains its leadership position in the Russian leasing services market; we also see dynamic and targeted development, growth of the company in line with the previously approved Strategy.

VTB Leasing is an undisputed leader in the segment of rolling stock and railway equipment leasing. In 2011 the company has to increase its market share in real estate leasing, in leasing of motor vehicles and special-purpose machines.

The company diversifies its leasing portfolio on the industry and product levels; it optimized its business processes for processing of transactions in medium-sized business segment; we have also improved our IT capabilities in data storage and provision of consolidated financial statements”.

VTB Leasing Strengthens its Information Technology Function

Thu, 25 Aug 2011 13:08:23 +0400

In order to optimize storage of its internal regulatory documents and reference information as well as accounting registers, VTB Leasing created a common data storage and automated reporting system based on the “1C:Consolidation 8” software platform.

This system developed by employees of 1C-Rarus company allow users to rapidly create consolidated reports based on data from the data warehouse, meeting the stringent reporting deadlines of the Company. The new system also allows comprehensive data analysis in required data views and breakdowns; users can obtain full and reliable information required for decision-making support in the management process.

Mr. Kirill Aladyshev, CFO of VTB Leasing, noted: “Implementation of comprehensive solutions and leading-edge information technologies allows VTB Leasing to optimize its reporting process and to decrease data processing time. Overall, this will undoubtedly increase the overall efficiency of our company’s operations”.

VTB Leasing Signs Contract for Leasing of Three Heavy Drilling Rigs

Tue, 02 Aug 2011 00:00:00 +0400

OJSC VTB Leasing and OOO Nova Energy Services have signed a contract for leasing of heavy drilling rigs.

On August 2, 2011 in Moscow representatives of OJSC VTB Leasing and OOO Nova Energy Services (OOO “NES”) have signed contracts for transfer of three additional heavy drilling rigs model ZJ50DBS under a leasing arrangement to OOO “NES”. Drilling rigs will be operated by OOO Nova Energy Services at oil and gas fields of the Yamal-Nenets autonomous region.

Reference information:

OOO Nova Energy Services (a member of :”Investgeoservis” group of companies) offers a full range of services for technologically complex prospect and exploratory drilling, production drilling and directional drilling in the territory of Yamal-Nenets autonomous region.

VTB Leasing signs a leasing contract with OOO Uralchem-Trans for delivery of 200 railcars

Thu, 28 Jul 2011 12:15:46 +0400

OJSC VTB Leasing has signed a leasing contract with OOO Uralchem-Trans (a member of the OJSC “OHK Uralchem” group of companies) for supply of 200 new railcars for transportation of mineral fertilizer. The railcars are to be produced by Bryansk machine-building plant.

Leasing of new special-purpose railcars will allow OOO Uralchem-Trans to significantly renovate and expand its fleet of rolling stock thus improving reliability of transportation services it provides to Uralchem group of companies.

Mr. Andrei Konoplev, CEO of OJSC VTB Leasing, commented: “VTB Leasing provided leasing services to one of the flagship companies of chemical industry – a subsidiary of Uralchem. Financing of mineral fertilizer industry companies is relevant not just for development of chemical industry in Russia – but for overall growth and strengthening of the Russian agro-industrial sector – and this is an objective of national importance. Going forward, VTB Leasing will consider further transactions aiming to modernize the fixed assets of OJSC “OHK Uralchem” group. We have successfully started our cooperation with this group and we intend to continue it further”.

According to Mr. Vsevolod Kovshov, Director of OOO Uralchem-Trans, “The company this year will significantly renovate and expand its fleet of rolling stock. Our cooperation with OJSC VTB Leasing (that provides financing to Russian manufacturing companies) plays an important role in this process. Total fleet of mineral fertilizer-carrying railcars owned, leased or under long-term lease by OOO Uralchem-Trans will increase by the end of this year to almost 2500 railcars – and total number of railcars operated by the company (including all types of railcars) will exceed 6000 units also by end of 2011. This will increase the reliability of transportation services provided by our company to Uralchem group – and this means that we will ensure guaranteed delivery of our produce to both our domestic and foreign customers”.

Reference information:

OJSC “OHK Uralchem” – one of the largest companies in the nitrogen and phosphate fertilizer markets in the Russian Federation and CIS countries; the company owns production facilities with annual capacity exceeding 2.5 million tons of ammonium nitrate, 2.2 million tons of ammonia, 0.8 million tons of monoammonium phosphate (MAP) and diammonium phosphate (DAP), 0.8 million tons of complex fertilizers and 0.5 million tons of carbamide (urea). OJSC “OHK Uralchem” is the second largest company in the world and the largest in Russia by volume of ammonium nitrate produced. The main production assets of OJSC OHK Uralchem include the Azot manufacturing facility (Berezniki, Perm region), OJSC “ZMU KChHK” (Kirovo-Chepetsk Mineral Fertilizer Plant, Kirovo-Chepetsk, Kirov region) and OJSC Voskresensk Mineral Fertilizer Plant, Voskresensk, Moscow region.

UniCredit arranges Euro 50 mln Credit Facility for OJSC VTB-Leasing backed by SACE

Thu, 23 Jun 2011 15:33:33 +0400

UniCredit signed a Facility Agreement with the leading Russian leasing company OJSC VTB-Leasing for an aggregate principal amount of Euro 50mln (fifty million) backed by a guarantee from the Italian export credit agency SACE, with UniCredit acting as sole arranger and Bank Agent.

The financing is divided into two tranches amounting respectively to Euro 30mln and Euro 20mln for a total tenor of 6 years. The credit facility was granted taking into consideration the relevant existing activities between OJSC VTB-Leasing and its Italian counterparts, with the purpose of financing the import of equipment produced in Italy to Russia for further lease.

The structure of the transaction is unique for the CIS countries and is the result of a high reliability assessment of OJSC VTB-Leasing and the whole VTB Group by its Italian partners.

Andrey Konoplev, CEO of OJSC VTB-Leasing said: “We are fully satisfied with the terms of the agreement with our partners. Russian companies now have broad opportunities to acquire high quality equipment produced in Italy using lease transactions. Due to this agreement the final cost of leasing transactions will be decreased. OJSC VTB-Leasing is planning to continue the practice of concluding appropriate agreements with foreign credit institutions backed by guarantees from national insurance agencies”.

Francesca Beomonte, Head of Structured Trade & Export Finance UniCredit Italy, said: “This deal successfully represents the continuous effort of UniCredit to promote the internationalization of Italian Companies towards the Russian market by intensifying the already existing good relationship with reliable partners as VTB Group and SACE”

Teresa Saponara, Head of Export Credit and Structured Finance of SACE, said: “Our support for this transaction is aimed at further enhancing business opportunities for Italian companies exporting to Russia, especially the large number of small and medium-sized enterprises, by providing their local clients with a wider range of financing solutions. Through the partnership with UniCredit and thanks to the competitive position of the VTB Group in the Russian leasing market, this transaction further reinforces our commitment in Russia, which is one of the countries in SACE’s portfolio with the largest exposure, valued at over € 4.5 billion.”

Chiomenti Studio Legale and Gide Loyrette Nouel acted as legal advisors to UniCredit and SACE, while Allen & Overy LLP advised OJSC VTB-Leasing.

About SACE

SACE is an insurance and financial group that operates in the field of export credit, credit insurance, investment protection, financial guarantees, sureties and factoring. The group assists its clients in more than 180 countries, ensuring more stable cash flows and transforming companies’ risks of insolvency into development opportunities. SACE has been rated AA- by Fitch and is present in Russia with a representative office in Moscow.

About UniCredit Corporate & Investment Banking:

UniCredit is a major international financial institution with strong roots in 22 European countries as well as representative offices in 27 other markets, with about 9,600 branches and approximately 162,000 employees. In the CEE region, UniCredit operates the largest international banking network with around 4,000 branches and outlets.

UniCredit's Corporate & Investment Banking gives companies, from small and medium Corporates to multinationals and institutional clients, access to the largest network of banks in Central and Eastern Europe, as well as to branches in major financial centers worldwide. The successful collaboration between our network’s relationship managers and specialists in our product lines (Financing & Advisory, Markets, Global Transaction Banking) enables UniCredit to respond promptly to our clients’ entrepreneurial requirements. Thus, UniCredit supports the growth and internationalization of the Group’s corporate and institutional clients, creating sustainable value for all stakeholders.

OJSC VTB Leasing Announces 2010 Results

Tue, 17 May 2011 08:33:56 +0400

OJSC VTB Leasing announces unaudited financial results of its operations (under IFRS) as of December 31, 2010.
MAIN FINANCIAL INDICATORS:
•    Revenue from core operations was 11.2 billion rubles;
•    Net profit for 2010 (under IFRS) was 1.3 billion rubles;
•    Net interest income was 2.9 billion rubles;
•    Company’s capital was 10.4 billion rubles;
•    Assets at year-end 2010 stood at 151.1 billion rubles.

Net investments in leasing (as of December 31, 2010) were 80.2 billion rubles or 1.2% less than as of December 31, 2009. Consolidated leasing portfolio (aggregate amount of clients’ liabilities under leasing agreements less leasing payments already made) including transactions of OJSC VTB Leasing and its subsidiaries was (at year-end 2010) 197.5 billion rubles. New business volume in 2010 was 93.33 billion rubles and amount of leasing payments received from clients was 39.6 billion rubles.

Key segments of leasing portfolio breakdown by industry at year-end 2010 were:
•    Railroad transportation equipment (rolling stock) comprising 60.3% of the total (119.1 billion rubles);
•    Aircraft and aviation equipment – 23.4% (46.2 billion rubles);
•    Oil production and refining equipment – 7.8% (15.4 billion rubles);
•    Power generation and machine-building equipment 4.8% (9.5 billion rubles).

Within the framework of implementation of Corporate Development Strategy for 2010-2012 the Company actively pursues cooperation with Russian and Ukrainian companies manufacturing rolling stock and other railroad transportation equipment and machinery.

Mr. A. Konoplev, general director of VTB Leasing, commented:
“During the year 2010 we significantly improved the quality of our leasing portfolio. This was partially due to our efficient work with the problem transactions and improvement of the company’s risk management systems. VTB Leasing remains the leader of the Russian market; Expert RA ratings agency awarded VTB Leasing top positions in its league tables for 2010 in the following nominations: “Largest Russian leasing company”, “Leader of the aircraft leasing sector” and “Leader of rolling stock leasing sector”. In 2010 the company saw growth of its regional transaction volume due to increased business with clients in the “medium-sized” segment; we also initiated a number of transactions for leasing of ocean-going vessels”.

VTB Group Strengthens Relationship with OOO Sibugol Company in Krasnoyarsk

Thu, 14 Apr 2011 00:00:00 +0400

On March 31, 2011 a joint project has been completed by Krasnoyarsk branch of JSC Bank VTB, Krasnoyarsk branch of OJSC VTB Leasing and OOO Sibugol company. The project’s objective was to acquire and lease out to OOO Sibugol 30 Scania tow trucks with trailers for the total amount of 175 million rubles in order to increase volumes of transportation of brown coal, including coal deliveries under the contract between Sibugol and OGK-4 (Berezovskaya GRES power plant). To finance Sibugol development program in addition to the leasing contracts Krasnoyarsk branch of JSC Bank VTB opened additional credit lines for Sibugol for the total amount of 83 million rubles.

Ms. Svetlana Balakhnina, deputy head of branch of JSC Bank VTB, commented:
“Financing of mining industry companies is one of the priority areas for Bank VTB in Krasnoyarsk. Structuring and execution of similar projects that involve subsidiary companies of Group VTB allow our Bank to maximize the efficiency of meeting the needs of our clients and allow us to provide comprehensive, full-scope services to our clients”.

Reference information:
OOO Sibugol mines brown coal (3B grade) in open-pit mines located in Balakhtino district of Krasnoyarsk region since 2008. Annual coal sales volumes steadily increase due to high quality of coal the company produces.

JSC Bank VTB and its subsidiary banks (Group VTB) are the leading Russian financial group providing a wide range of banking services in Russia and CIS countries.

Krasnoyarsk branch of JSC Bank VTB – one of the region’s leading lending institutions. Operates in the Krasnoyarsk market as a branch of Bank VTB since March 29, 1994. The branch office’s client list includes the larges companies in machine-building, defense and nuclear power industries, as well as in timber, construction, power generation, retail, telecommunications and utilities sectors.

OJSC VTB Leasing, established in 2002, is Russia’s largest leasing company offering a wide range of services, covering the whole territory of Russia and offering its services in foreign countries as well. VTB Leasing focuses on large and medium-sized transactions in such sectors as railroad transportation, aircraft and aviation equipment and specialized equipment, vehicles and machinery.

OJSC VTB Leasing Holds a Practical Workshop Titled “Incoterms® 2010: Important Specifics of New Rules” for its Employees

Thu, 24 Mar 2011 17:26:59 +0300

OJSC VTB Leasing conducted a workshop dedicated to new ICC Rules for use of national and international trade terms and on specifics of their application (Incoterms® 2010). The workshop was held on March 23, 2011. The workshop’s primary objective was to increase quality of leasing services provided by VTB Leasing to its customers.

The workshop was chaired by Ms. Nina G. Vilkova, professor of Russian Foreign Trade Academy, Doctor of Law, officially recognized as “A distinguished lawyer of Russian Federation”, a member of the ICC International Court of Arbitration, certified ICC trainer on Incoterms® 2010 and head of the working group at ICC Russia on review of the Incoterms®.

At the workshop participants covered the main aspects of application of Incoterms® rules in international and domestic trade; legal and economic consequences of selecting a particular term from Incoterms® 2010. Participants also covered practical issues of determining the basic (underlying) terms in an international contract for purchase and sale of goods and application of Incoterms® in dispute resolution in international commercial arbitration.

OJSC VTB Leasing Sponsors “Russian Leasing – Results of the Year” International Conference

Wed, 16 Mar 2011 00:00:00 +0300

On March 3-4, 2011 an annual international conference “Russian leasing – results of the year” was held in Amsterdam (the Netherlands). OJSC VTB Leasing provided sponsorship support to the conference. Over 70 delegates – heads of leasing companies, representatives of leasing associations, expert communities and financial institutions participated in the conference.

During the conference proceedings the results of leasing operations in Russia in 2010 were summarized; potential strategic decisions, forecasts and plans for 2011 were reviewed. Experts from European leasing companies participated in the forum. In their presentations foreign experts covered, among other things, methods to develop leasing operations in a post-crisis economic environment; methods to grow sales volumes as well as new product offerings and further improvement of companies’ risk management systems.

Within the panel discussion titled “Successful strategies of leasing companies in 2010” representatives of VTB Leasing answered multiple questions from the conference guests. The questions concerned various activities of VTB Leasing and aspects of development of the Russian leasing services market in the coming years.

Mr. Andrey Kostin Addresses the Meeting of VTB Shareholders’ Consultative Council

Thu, 16 Dec 2010 17:38:17 +0300

On December 16, 2010 the 8th meeting of VTB Shareholders’ Consultative Council (SCC) was held. Mr. Andrey Kostin, President and Chairman of the Management Board of VTB Bank, Mr. Andrey Konoplev, General Director of OJSC VTB Leasing and Mr. Kirill Aladyshev, CFO of OJSC VTB Leasing, participated in that meeting.

One of the key matters on the agenda was review of operating results of OJSC VTB Leasing, (a subsidiary of VTB Group). Net profit of VTB Leasing for 9 months of 2010 (under IFRS) was 913 million rubles. VTB Leasing was recognized by Expert-RA rating agency as Russia’s largest leasing company. The company’s leasing portfolio (aggregate amount of customers’ liabilities under leasing contracts less leasing payments already made) as of end of 9 months 2010 was 142.3 billion rubles. Key client industries in the company’s leasing portfolio included railroad transportation, aircraft and aviation equipment, power generation and machine-building equipment.

SCC members received detailed answers on the topic of leasing transactions with drilling equipment owned by VTB Leasing. In particular, meeting participants received information on the structure and financial return of the transactions, on technical condition and operation of equipment, as well as on proper storage conditions for the above-mentioned equipment. Top managers of VTB Leasing presented to meeting participants a real-time remote monitoring system installed at one of the drilling rigs.

During the meeting Mr. Vladimir Tarachev, chairman of the Consultative Council, described the results of meetings held by SCC members and representatives of the Union of Borrowers with the Bank’s shareholders. During those meetings taking place in Ekaterinburg and Moscow financial market experts presented minority shareholders with an overview of key factors of Russian joint-stock company legislation and presented the basics of personal financial management in the securities market.

Special attention at the meeting was devoted to interaction between the bank and its minority shareholders. Mr. Kostin noted that “VTB Bank considers principles of openness to be fundamental and unwavering for our bank. VTB is stringently complying with applicable provisions of Russian joint-stock company legislation by always providing the requested information to the shareholders”.
Answering the questions from the members of the Consultative Council regarding acquisition of banking assets Mr. Kostin underscored that strategy of VTB Group envisages both organic growth and potential acquisitions aimed at further strengthening positions of VTB in various banking segments.

Further Information:
Consultative Council is an independent body established at the initiative of minority shareholders of VTB Bank in 2009. The Council includes 10 members proposed by the independent panel and elected in a voting procedure. Mr. Vladimir Tarachev, co-chairman of the Consumers’ Union of Russia, chairs the Consultative Council. The first meeting of the Council was held on July 30, 2009.

OJSC VTB Leasing Announces Results for 9 Months of 2010

Fri, 10 Dec 2010 16:03:29 +0300

OJSC VTB Leasing announced unaudited financial results of operations (under IFRS) as of September 30, 2010.

Main financial indicators:

Revenue from core operations was 8,4 billion rubles;
Net profit for 9 months of 2010 (under IFRS) was 913,0 million rubles;
Net interest income was 2,2 billion rubles;
Company’s capital was 9,97 billion rubles;
Assets at end of H1 2010 were 143,0 billion rubles

Net investment in leasing as of September 30, 2010 were 85,9 billion rubles or 5,8% higher than as of December 31, 2009. Leasing portfolio (aggregate amount of clients’ liabilities under leasing contracts less leasing payments already made) as of September 30, 2010 was 142,3 billion rubles or 8,0% less than as of December 31, 2009. This decline was caused by early buyout of leased assets by company’s clients.

Leasing portfolio breakdown (as of September 30, 2010) has the following key client industry segments:

Railroad transportation 53,3% (75,8 billion rubles);
Aircraft and aviation equipment 28,6% (40,7 billion rubles);
Power generation equipment 4,0% (5,7 billion rubles);
Machine-building equipment 2,6% (3,7 billion rubles).

Amount of leasing payments received was 24,8 billion rubles.

Rental portfolio (aggregate amount of clients’ liabilities under asset rental (operating leasing) agreements less rental payments already made) was 17,3 billion rubles. This indicates that by the end of 2010 operating leasing (that the company started using in 2009 as a method for restructuring of problem leasing agreements) became a separate – and rapidly developing – line of business for VTB Leasing. Moreover, this new line of business enjoys growth rates that are much higher than those for financial leasing volumes.

Rental portfolio breakdown by industry (as of end of 9 months of 2010) had the following key industries:

Aircraft and aviation equipment — 22,0% (3,8 billion rubles);
Railroad transportation equipment — 51,0% (8,8 billion rubles);
Oil production equipment — 24,0% (4,2 billion rubles).

Active cooperation with railcar-building and machine-building plants in Russia and Ukraine is deepened and expanded under a strategic initiative of VTB Leasing aimed at development of relations with manufacturing companies. Transactions for acquisition of equipment components and rolling stock are executed on a periodic basis.

Company’s performance results for 9 months of 2010 indicate with full certainty that VTB Leasing continues its operations in strict compliance with approved development strategy and business plan.

Mr. A. Konoplev, General Director of VTB Leasing, commented: «Nine months of 2010 indicated that the Russian leasing services market is gradually leaving the crisis behind it. First and foremost, leasing companies are now paying priority attention to quality of their transactions – and quality of their clients. During that period the company has materially reduced the portfolio of problem transactions – presently it is at an acceptable level. Earlier 90,0% of our leasing deals were done in the Moscow region, but in 2010 almost one third of all transactions originate from the regional markets. In 2011 our plans are to continue our regional expansion and to extend our industry reach by broadening the list of industries in which we actively operate.»

OJSC VTB Leasing Signs Operating Leasing Contracts with OOO “Nova Energeticheskie Uslugi” for Leasing of Heavy Drilling Rigs and an Agreement on Arrangement of Financing for Modernization Program

Wed, 24 Nov 2010 17:35:37 +0300

OJSC VTB Leasing and OOO “Nova Energeticheskie Uslugi” (OOO “NEU”) have signed three contracts for operating leasing of heavy drilling rigs and an agreement to arrange financing for modernization program of OOO “NEU” in Moscow.

On behalf of VTB Leasing the contracts were signed by Mr. Andrey Konoplev, General Director. On behalf of OOO “NEU” the signatory was Mr. Sergey Soloviev, General Director of management company ZAO “Investgeoservis”

Within the credit risk limit set by the Credit committee of OJSC VTB Leasing for financial leasing transactions, OOO “NEU” has an opportunity to modernize its fixed assets, including acquisition of specialty equipment and machinery for drilling services for the amount of up to 500,000,000 (five hundred million) Russian rubles. Modernization program for OOO “NEU” includes specialty equipment manufactured in Russia and foreign-made equipment, including drilling equipment, drilling rigs and specialized machinery, tractors and trucks, mobile and stationary facilities and power generators. The drilling rigs will be used by OOO “NEU” at the oil and gas fields of Yamal-Nenets Autonomous District (YNAO).

Mr. Andrey Konoplev, General Director of VTB Leasing said: “Modernization of oil and gas industry assets is one of the priority areas for development of Russian economy. This modernization, among other things, is included in the gas industry strategy of the Russian Federation for the period until 2030. VTB Leasing states its readiness to participate in projects and programs for modernization of production-related fixed assets for state-owned and private companies in the fuel and energy sector.”

Mr. Sergey Soloviev, General Director of ZAO “Investgeoservis” stated: “Today we see real prospects of growth and development of the drilling services market in the YNAO. This is caused by more complicated geological conditions for both exploration and production – and also by rapidly increasing level of our customers’ requirements regarding use of modern technologies and equipment. We have made a strategic internal decision to pursue modernization of our assets and innovations in drilling. This was reflected in OOO “NEU” investment program. We hope that the contract signed with OJSC VTB Leasing and our agreements will be the start of long-term cooperation of our companies.”

In 2010 VTB Leasing signed a number of contracts for operating leasing of heavy stationary drilling rigs. Until the end of 2010 the company plans to transfer into operating leasing over 20 heavy units and also several lighter drilling rigs, including domestically manufactured ones.

VTB Leasing Football Team Wins the II VTB Cup Mini-football Tournament

Mon, 15 Nov 2010 18:31:00 +0300

On October 23, 2010 the II VTB Cup, a mini-football tournament, was held at the indoor football arena at Dinamo stadium. The tournament was supported by Dinamo football club. 14 teams representing member companies of VTB Group participated in the tournament. VTB Leasing team was the winner of the tournament. It had 4 victories in 4 games played (total score was 8:2). After the tournament games were over, the Organizing Committee of the tournament awarded the title of Best Player to Mr. Maxim Leontsev, head of section for risk analysis and control in leasing operations (VTB Leasing). VTB Leasing support group was awarded the title of “Best support group” of the tournament. The award ceremony was attended by football players of the Dinamo (Moscow) team Denis Kolodin and Igor Semashov, and by a well-know veteran of FC Dinamo, Master of Sports and four times USSR Champion Mr. Victor Tsarev.

VTB Leasing Ukraine (with participation from OJSC VTB Leasing) transferred a railcar-washing station over to UTOO Southern Railroad (Ukraine)

Wed, 27 Oct 2010 18:25:53 +0400

On October 27, 2010 (with participation from OJSC VTB Leasing) in a special ceremony a railcar-washing unit was opened in the Ukrainian city of Kharkov, at Kharkov-Sortirovochnaya railway station. Equipment for the railcar-washing unit was provided under a leasing contract to UTOO “Southern Railroad” (a division of “Ukrainian Railroads” company). Total value of equipment is 21 million Ukrainian hryvna; duration of the leasing contract is 84 months.

VTB Leasing was represented at the opening ceremony by Mr. Andrei Konoplev, CEO of OJSC VTB Leasing and Ms. Natalia Vorobieva, Director of VTB Leasing Ukraine. Ukrainian participants of the transaction were represented by Mr. Andrei Klyuev, first deputy Prime Minister of the Ukraine, Mr. Mikhail Kostyuk, CEO of OAO “Ukrzaliznitsya” (“Ukrainian Railroads” company) and Mr. Mikhail Dobkin, chairman of Kharkov regional administration.

The railcar-washing unit is designed for washing of rolling stock. The unit can operate throughout the year and has daily capacity of 600 railcars. The software used to control the unit allows fully automated washing of railcars that complies with all technical and hygienic standards. Equipment for the railcar-washing unit is manufactured by Ceccato, an Italian industrial equipment manufacturer.

The railcar-washing unit will significantly improve working conditions for the railroad employees as it uses the leading technologies and modern engineering solutions that fully automate the process of washing of commuter train railcars.

Standard & Poor’s Revises Its Outlook on Rating of OJSC VTB Leasing to “Stable”

Tue, 05 Oct 2010 11:14:07 +0400

Standard & Poor's, an international ratings agency (www.standardandpoors.ru), revised its outlook from “negative” to “stable” for ratings of JSC Bank VTB and its subsidiaries – VTB 24 (ZAO) and OJSC VTB Leasing (VTBL) and for OJSC VTB Leasing Finance (a subsidiary of VTB Leasing).

At the same time Standard & Poor's confirmed its long-term and short-term counterparty credit ratings at the level of "BBB/A-3" and national scale ratings at "ruAAA" level for Bank VTB, VTB 24 and VTBL (as well as long-term counterparty credit rating for VTBLF at the level of "BBB").

Due to the fact that Standard & Poor's classifies VTB 24 and VTB Leasing (companies fully owned by Bank VTB) as “core” subsidiaries, their ratings are set equal to that of Bank VTB.

The stable outlook mirrors the outlook for the sovereign rating of Russian Federation and reflects gradual normalization of operating environment, supporting asset quality, capitalization, liquidity, and profit generation.

OJSC VTB Leasing Tops the H1 2010 Ranking of Leasing Companies in Russia

Tue, 05 Oct 2010 10:08:44 +0400

According to data provided by Expert-RA ratings agency (www.raexpert.ru), OJSC VTB Leasing tops the rating of leasing companies in Russian Federation by total volume of leasing operations based on results of first six months of 2010.
Leasing portfolio of OJSC VTB Leasing (as of July 01, 2010) exceeded 171.8 billion rubles.

OJSC VTB Leasing and OJSC Stakhanov Railcar Plant present the 100,000th railcar produced

Thu, 30 Sep 2010 17:44:37 +0400

On September 30, 2010 in Stakhanov (Ukraine) commemorative events dedicated to production of 100,000th railcar by OJSC "Stakhanov Railcar Plant" were held. During a festive ceremony the 100,000th car was transferred to VTB Leasing under a previously signed medium-term contract for delivery of railway rolling stock.

Delegation of OJSC VTB Leasing executives, headed by Mr. Andrey Konoplev, General Director and member of the Board of Directors, participated in the event.

OJSC VTB Leasing is presently one of the largest buyers of rolling stock produced by OJSC Stakhanov Railcar Plant. OJSC VTB Leasing and OJSC Stakhanov Railcar Plant have signed a medium-term framework agreement for delivery of gondola railcars (model 12-9046, technical specification TU U 35.2-00210890-026:2009).

Railcars supplied by OJSC Stakhanov Railcar Plant will be leased out (including under operating leasing agreements) to Russian operator companies that provide rail freight transportation services. In particular, the 100,000th railcar (in a batch of railcars) will be transferred by OJSC VTB Leasing to OJSC Siberian Coal and Energy Company (SUEK) under an operating leasing agreement. It will be used by SUEK for transportation of its freight.

Within the scope of this event a press conference was held by Mr. Andrey Konoplev, Mr. Vladimir Sultan (member of the supervisory board of OJSC Stakhanov Railcar Plant, Mr. Vitaly Kasinov, Chairman of the management board of OJSC Stakhanov Railcar Plant, and Mr. Alexander Lukyanenko, deputy director for rail freight transportation of OJSC SUEK.

All parties noted the positive nature of their cooperation, high level of partnership relations and positive impact of integration processes on the national economies of Russia and Ukraine. During the press conference participants answered questions from media reporters and other interested persons.

Mr. Andrey Konoplev said: “VTB Leasing congratulates the employees and management of the Plant on production of the 100,000th railcar. We are pleased that this railcar is purchased by our company. We express our interest in developing long-term fruitful relationship with OJSC Stakhanov Railcar Plant".

OJSC "Stakhanov Railcar Plant" is one of the leaders in rolling stock production sector in the countries of the former Soviet Union. Products of the Plant are meeting the needs of the industry. Railcars are delivered in strict compliance with the Plant’s contractual obligations; all output of the Plant is of high quality.

In spite of the fact that economies of Russia and Ukraine have not yet fully overcome the consequences of the economic crisis, the products manufactured by the Plant are in demand by operators of rolling stock. Economic recovery post-crisis will lead to further growth in demand for rail freight transportation services – and that in turn will lead to higher demand for rolling stock and other products manufactured by railroad equipment manufacturing industry.