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Sberbank of the USSR today

Savings bank of the USSR today, Azerbaijan

Savings bank of the USSR today, Armenia

Savings bank of the USSR today, Belarus

Savings bank of the USSR today, Georgia

Savings bank of the USSR today, Kazakhstan

Savings bank of the USSR today, Kyrgyzstan

Savings bank of the USSR today, Latvia

Savings bank of the USSR today, Lithuania

Savings bank of the USSR today, Moldova

Savings bank of the USSR today, Russia

Savings bank of the USSR today, Tajikistan

Savings bank of the USSR today, Turkmenistan

Savings bank of the USSR today, Uzbekistan

Savings bank of the USSR today, Ukraine

Savings bank of the USSR today, Estonia


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Report 2005: [ Company Overview | Balance Sheet | Income Statement | Cash Flows | Cash and Cash Equivalents | Trading Securities | Other Securities | Due from Other Banks | Loans and Advances to Customers | Other Assets | Due to Other Banks | Deposits from Individuals and Customer Accounts | Debt Securities in Issue | Other Borrowed Funds | Other Liabilities | Share Capital and Share Premium | Interest Income and Expense | Fee and Commission Income and Expense | Administrative and Other Operating Expenses | Income Taxes | Earnings per Share | Dividends | Business Segments | Geographical Segments | Geographical Risk | Currency Risk | Liquidity Risk | Capital Adequacy Ratio | Glossary ] [ Ratio Analysis | Statistics | Financial Data Schedule ]



Other Borrowed Funds.

In thousands of Russian Roubles

 20052004
Long-term loans received57 597 51027 781 693
Term borrowings5 366 3551 981 629
Total other borrowed funds62 963 86529 763 322
Included in long-term loans received are floating rate (three month LIBOR +1.75%) notes issued in October 2003 maturing in three years with effective interest rate of 6.8% p.a. (2004: 4.7% p.a.). The transaction was structured as an issue of notes by UBS Luxembourg S.A. for the purpose of financing a loan to the Bank. These notes had a par value of USD 1 000 000 thousand and carried 12 quarterly coupons. The loan has been accounted for at amortised cost of RR 28 881 656 thousand (2004: RR 27 781 693 thousand).

Also, included in long-term loans received is a syndicated loan in the amount of USD 1 000 000 thousand which was received by the Bank in December 2005 from a consortium of foreign banks. As at 31 December 2005 the loan was accounted for at amortised cost of RR 28 715 854 thousand. This loan has a maturity date on 10 November 2008 and contractual floating interest rate of LIBOR + 0.55%. As at 31 December 2005 the effective interest rate on the loan was 5.4%.

Term borrowings represent funding received by the Bank from foreign export agencies via foreign banks, which was used by Sberbank for direct lending to Russian companies in accordance with the terms of the agreements. As at 31 December 2005 these term borrowings were accounted for at amortised cost of RR 5 366 355 thousand (2004: RR 1 981 629 thousand), had floating interest rates varying from 2.8% to 6.4% (2004: from 2.9% to 3.9%) and maturity dates from February 2006 to January 2016 (2004: from February 2006 to February 2012).

At 31 December 2005 the estimated fair value of other borrowed funds was RR 63 296 447 thousand (2004: RR 30 116 171 thousand).


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