Credit portfolio
| 31.12.2008 | 31.12.2009 | 31.12.2010 | (2010/2009) | (2010/2009), % | |
|---|---|---|---|---|---|
| Short-terms credits and loans | 1 200 000 | - | - | 0 | 0% |
| Long-term credits and loans | 5 161 534 | 5 583 562 | 5 537 633 | -45 929 | -1% |
| Including bonds | 1 000 000 | 1 638 | 219 | ->1 419 | -87% |
| Interest payable | 42 770 | 26 503 | 2 123 | -24 380 | -92% |
| Total | 6 404 304 | 5 610 065 | 5 539 756 | -70 309 | -1% |
As of 31.12.2010, credits and loans totaled RUR 5 537.6 mln. (-1% or -45.9 mln on 2009). This debt is long-term (2-5 years). In 2010 there were 3 credit auctions. After the auctions we concluded 3 contracts (overall value of RUR 4 280 mln.). The key creditor banks are Urals Bank of Russian Savings Bank and Ekaterinburg branch of Gazprombank, OAO.
| Terms | Limits, RUR thous. | |
|---|---|---|
| Bond issue (series 01,4-01-32501-D) | May 2012 | 1 000 000 |
| Sberbank | 2-5 years | 3 600 000 |
| Gazprombank | 2-5 years | 6 730 000 |
| Total | 11 330 000 |
In 2010 credit market was characterized as favorable and we took measures to decrease interest rates. As a result, we raised capital below our approved debt value limits. Average interest rate in 2010 totaled 9.6% per annum, at the same time, as of 31.12.2010, average credit portfolio interest rate totaled 7.7% per annum. As of 2010 the Company ensured the compliance of our debt to the approved limits and retained business solvency rating at Level A.