Financial Result From Operations with Securities 

RUB m 2010 2009
Result recorded in the income statement    
Trading securities 4,770 14,078
Other securities designated at fair value through profit or loss 9,642 7,557
Securities available for sale 9,597 17,102
Impairment of securities available for sale (39) (2,274)
Total 23,970 36,463
Result recorded directly in equity    
Securities available for sale 31,265 40,728
TOTAL 55,235 77,191

Trading income from operations with securities amounted to RUB 55.2bn in 2010 (including an unrealised RUB 31.3bn gain from the revaluation of securities available for sale). The 2009 result was RUB 77.2bn (with a RUB 40.7bn gain from the revaluation of securities available for sale). Securities income declined on the back of moderate growth in the value of securities investments in 2010 versus 2009 when the climbing financial market pushed securities values up at a much faster rate.

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