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President Vladimir Putin: I am listening, Andrei Ilyich.

Andrei Kazmin: I would like to inform you on the results of the bank’s work over these last nine months, and report on the general situation in the banking sector. With the exception of August, the situation in the third quarter was positive overall. We achieved a considerable increase in our financial results (here, on page three, you can see our net profit). According to our operational data, our net profit stood at more than 80 billion roubles as at October 1.

Vladimir Putin: 87 billion.

Andrei Kazmin: This figure, 87.9 billion, was the result as at January 1 for the entire year. Our result for the first nine months of this year is just slightly behind last year’s overall figure.

We had a profit target for this year – the target was around 100 billion. We have every reason to hope that, despite the various negative trends on the market, we will be able to meet this target. As you can see, we have also achieved our target for capital. Overall then, the results of the first three quarters give us reason to expect a positive financial result for the year as a whole.

This graph shows the development of the bank’s branch network. We have paid a lot of attention to modernising the bank’s internal structural subdivisions. They have increased in number this year. The focus has been on the cities with the biggest shortage of banking services. We are currently in the process of completing work on a programme to develop alternative means of banking service provision. By this I mean various self-service facilities such as automatic exchange facilities, automatic teller machines and banking terminals. This will make it possible to lighten the work of overburdened branches and better satisfy our customers’ needs.

Efforts to attract resources have gone ahead dynamically. The diagram shows that, as in past years, household savings continue to form the bulk of our resources and they continued to increase over the third quarter. The bank had attracted resources totalling more than 3780 billion roubles (3.8 trillion roubles) as at October 1. This is a huge amount and we bear great responsibility for ensuring that this money is used effectively.

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