NetFee and Commission Income 

RUB m 2010 2009 Change, %
Fee and commission income 130,949 105,723 23.9
Cash and settlement transactions with individuals 41,845 34,416 21.6
Cash and settlement transactions with legal entities 40,623 36,922 10.0
Operations with bank cards 23,639 17,684 33.7
Agent commissions on selling insurance contracts 9,448 - -
Operations with foreign currency 5,858 7,889 (25.7)
Cash collection 4,445 4,145 7.2
Guarantees issued 2,717 1,863 45.8
Securities transactions 1,116 1,403 (20.5)
Other 1,258 1,401 (10.2)
Fee and commission expense (7,375) (4,634) 59.1
Net fee and commission income 123,574 101,089 22.2

The Group’s fee and commission income increased to RUB 130.9bn in 2010, 24% up versus 2009, with cash and settlement transactions with legal entities and individuals generating the bulk of this income. Cash services to legal entities and money transfer services to individuals represent the largest items of fee and commission income. The Group is actively looking to increase proceeds from other sources: commissions on agency agreements to sell insurance policies, plastic card operations and operations with foreign currencies and securities, among other things, to diversify the structure of its fee and commission income.

Fee and commission expenses primarily relate to settlement transactions.

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