Sberbank - Annual Report 2010 - Gains from Operations with Foreign Furrencies

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# Gains from Operations with Foreign Furrencies

RUB m | 2010 | 2009 | Change, %
--- | --- | --- | ---
Net foreign exchange translation gains | 15,166 | 15,305 | (0.9)
Net losses from operations with foreign currency derivatives | (9,175) | (12,135) | (24.4)
Net gains from trading in foreign currencies | 8,081 | 13,058 | (38.1)
Total | 14,072 | 16,228 | (13.3)

Total gains from operations with foreign currencies amounted to RUB 14.1bn in 2010 (RUB 16.2bn in 2009). The Bank incurred expenses on foreign currency derivative transactions primarily because it used derivative financial instruments to manage its market risks. These expenses should be analysed together with foreign exchange translation gains, resulting in a net gain of RUB 3.3bn in 2010. The Group also increased the volume of derivative transactions as part of its customer business expansion.

The substantial 2009 gains from foreign-currency trading were earned largely in the first quarter of 2009 as a result of high retail demand for foreign currency during the crisis. In the subsequent period the currency market became more stable, and consequently the demand for foreign currency declined. This has resulted in a dip in gains from trading in foreign currencies in 2010 against 2009.

- Statement of Comprehensive Income
- Interest Income and Expenses
- NetFee and Commission Income
- Financial Result From Operations with Securities
- Gains from Operations with Foreign Furrencies
- Operating Expenses
- Provision for Loan Impairment

## History

- Financial Result From Operations with Securities
- NetFee and Commission Income
- Interest Income and Expenses
- Recommend Page
- Income Statement

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