Structure Liabilities

  As of 31 December 2010 As of 31 December 2009 Change, %
RUB m Amount % of amount Amount % of amount  
Due to individuals 4,834,459 63.2 3,787,312 59.8 27.6
Due to corporate customers 1,816,672 23.8 1,651,559 26.1 10.0
Subordinated debt 303,513 4.0 519,061 8.2 (41.5)
Other borrowed funds 270,765 3.5 115,213 1.8 135.0
Debt securities in issue 119,426 1.6 124,599 2.0 (4.2)
Due to other banks 188,431 2.5 53,947 0.9 249.3
Other liabilities 108,094 1.4 74,439 1.2 45.2
Total liabilities 7,641,360 100.0 6,326,130 100.0 20.8

In 2010, the Group’s liabilities increased 20.8% to RUB 7,641.4bn. This was predominantly driven by a 27.6% escalation in amounts due to customers to RUB 4,834.5bn. Other borrowed funds rose substantially in 2010 (by 135.0%) as a result of the Group raising new borrowings under the medium-term borrowing programme (MTN programme) and a syndicated loan from a consortium of foreign banks. The year 2010 also saw growth in amounts due to corporate customers (by 10.0%), amounts due to other banks (by 249.3%) and other liabilities (by 45.2%).

Given that in 2010 the Group had far more available funding sources versus 2009 combined with a high capital adequacy ratio, it was in the position to make an early repayment of a RUB 200bn tranche of its subordinated loan from the Central Bank of Russia.

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