Major Financial Performance Results (as of 01.01.2021)
| (RUB’000) | |
| Equity (capital) | 73 302 615 |
| Net income, total | 23 681 945 |
| Operating expenses | 1 680 385 |
| Profit before tax | 22 001 560 |
| Accrued (paid) taxes | 4 206 325 |
| Profit after tax | 17 795 235 |
Dynamics of Changes in Financial Performance Results (RUB’000)
Table 8.
| Indicators | Change 2020/2019 | 2020 | 2019 |
| Interest income, total | -14% | 168 585 484 | 195 533 800 |
| Interest expenses, total | -16% | 158 345 158 | 188 395 395 |
| Net interest income from transactions with financial assets assessed at the fair value via profits or losses | -90% | 830 538 | 8 137 840 |
| Fee and commission income | 27% | 14 606 513 | 11 489 736 |
| Fee and commission expenses | 76% | 438 846 | 249 301 |
| Net income (expenses) | 9% | 23 681 945 | 21 783 279 |
| Operating expenses | 6% | 1 680 385 | 1 589 180 |
| Profit (loss) before tax | 9% | 22 001 560 | 20 194 099 |
| Tax refund (expense) | 8% | 4 206 325 | 3 891 483 |
| Profit (loss) for reporting period | 9% | 17 795 235 | 16 302 616 |
Dynamics of Changes in Equity (Capital) of NCC and Its Major Indicators
Included in the Capital Calculation (RUB’000)
NCC manages its capital on the going concern assumption, with the view to the need to maintain the necessary balance between ensuring financial sustainability in any economic conditions of its business functioning, reduction of market participants’ costs, and the high level of return on investment for shareholders.
During the reporting period, NCC managed its capital subject to the objectives set by Moscow Exchange Group’s Strategy for 2016-2020 with regard to development of the centralized clearing and improvement of the reliability of the central counterparty.
Considering the need to comply with the regulatory requirements for the capital of credit institutions, the Company forecasted its capital amount based on the estimated volume of transactions on the on-exchange markets of the Group and the amount of funds deposited by clearing members to secure performance of obligations under trades and also subject to the size of risks assumed by it in connection with implementation of the top-priority projects of Moscow Exchange involving performance of centralized clearing via CCP.
When forecasting the amount and adequacy of its capital, NCC was also taking account of the scheduled dividend payments in accordance with the Group’s dividend policy.
Table 9.
Item | 01.01.2021 (RUB’000) | 01.01.2020 (RUB’000) |
Equity (capital), total | 73 302 615 | 70 580 566 |
Including: | ||
CET1 Capital | 55 347 433 | 54 321 547 |
Tier 1 capital | 55 347 433 | 54 321 547 |
Tier 2 Capital | 17 955 182 | 16 259 019 |
All capital adequacy requirements were met by NCC in full during the reporting period.
Table 10.
| Part of Retained Earnings Intended: | 2020 (RUB’000) | 2019 (RUB’000) |
| to cover possible losses caused by failure of clearing members to perform their obligations (funds used by central counterparty before using the funds contributed by non-defaulting clearing members to the collective clearing collateral) – the central counterparty’s dedicated capital | 10 100 000 | 10 100 000 |
| to insure termination and restructuring of the central counterparty’s activities | 794 590 | 690 479 |
| to cover possible losses as a result of deterioration of the central counterparty’s financial position due to the reduction of its income or increase of its expenses, other than resulting from failure of clearing members to perform their obligations | 397 295 | 345 240 |