The National Securities Depository (NSD) in Russia said net profit for the first half of 2012 grew 46.5% against the first half of 2011, reaching RUB1.75 billion (compared to RUB1.195 billion during the prior corresponding period).
The CSD posted first half revenues of RUB5.9 billion, almost double compared to the same period of 2011 (RUB3.01 billion for the first half of 2011).
Cash accounts turnover and securities turnover (the market value of securities transferred in inventory operations) increased to RUB125.162 trillion and RUB60.127 trillion accordingly. This is 160% and 67.6% more than the first half of 2011 (RUB48.137 trillion and RUB35.88 trillion respectively).
The value of securities in depository accounts opened with NSD as of June 30 2012 increased 6% in comparison with the same indicator as of Dec. 31 2011 (RUB8.139 trillion); it reached RUB8.626 trillion.
Eddie Astanin, chairman of the Executive Board, NSD, said: NSD’s positive performance indicators demonstrate that we succeed in resolving challenges of the business continuity processes, increasing efficiency of settlements and improving quality of services in spite of the complex process of integrating two depositories. I am confident that we will achieve the strategic goals set by our shareholders.
On April 13, NSD acquired 97.76% of Depository Clearing Company (DCC) shares, the next step in the integration of Russias two existing depositories to create an official, regulated CSD in the market.
(JDC)