Financial Performance

Balance sheet: key components (US Dollars in millions)	YE2011	YE2010	2011/2010 y-o-y
Total assets	3,720.9	3,219.1	15.6%
Loan portfolio before provisions	2,422.7	2,207.0	9.8%
Corporate	1,816.4	1,623.7	11.9%
Retail	606.3	583.3	3.9%
Securities before provisions	522.9	382.2	36.8%
Customer accounts	2,531.3	1,939.9	30.5%
Corporate	1,447.4	948.6	52.6%
Retail	1,083.9	991.3	9.3%
Equity	604.9	527.1	14.8%
Total capital (Tier 1 + Tier 2)	690.2	462.4⁽³⁾	-

P&L: key components (US Dollars in millions)
Net interest income	122.7	106.1	15.6%
Net non-interest income	50.3	48.7	3.5%
Net fee and comission income	32.5	28.0	15.9%
Trading and other volatile income	17.9	20.6	(13.4%)
Operating income before provisions	173.0	154.8	11.8%
Operating expenses	(96.9)	(87.8)	10.4%
Profit before provisions and tax	76.1	67.0	13.6%
Provisions	(7.7)	24.1	(131.8%)
Net profit	56.4	71.2	(20.8%)

Performance ratios
ROA before provisions and tax	2.3%	2.2%	0.1pp
ROE before provisions and tax	13.6%	13.7%	(0.1pp)
ROA	1.7%	2.4%	(0.6pp)
ROE	10.1%	14.6%	(4.5pp)
Net interest margin	5.2%	4.8%	0.4pp
C/I	56.0%	56.7%	(0.7pp)

Structural ratios⁽¹⁾
Net loan portfolio / Customer accounts	93.4%	113.4%	(20.0pp)
Customer accounts / Liabilities	75.5%	65.5%	9.9pp
Current accounts / Total customer accounts	45.0%	37.1%	7.9pp

Asset quality ratios
NPL⁽²⁾/ Loans to customers	19.1%	23.0%	(3.9pp)
Provisions / Loans to customers	15.1%	17.6%	(2.4pp)
Provisions / NPL⁽²⁾	79.4%	76.6%	2.9pp

Capital ratios
CAR (Basel)	26.8%	26.2%⁽³⁾	0.6pp
CAR (NBU)	15.9%	18.8%⁽³⁾	(2.9pp)

⁽¹⁾ Average balance sheet
⁽²⁾ NPL as 60+ days overdue loans
⁽³⁾ Without effect of FUIB and Dongorbank merger