OREANDA-NEWS. April 19, 2010. Veles Capital IC reported results of operation in 2009. According to the company’s nonconsolidated financial report, prepared according to Russian Accounting Standards (RAS), Veles Сapital’s net profit increased + 37% and exceeded 162 mln RUR (5,1 mln USD) (118 mln RUR (4,7 mln USD) in 2008)

The company’s authorized capital increased + 26% and formed 950 mln RUR (29,9 mln USD) (750 mln RUR in 2008 (30,1 mln USD). Undistributed profit increased + 49% and formed 496 mln RUR (14,8 mln USD) (333 mln RUR (13,4 mln USD) in 2008). Equity capital exceeded 1,4 bln RUR(44 mln USD) (increased + 33% during 2009). Company’s assets exceeded 3,3 bln RUR (103 mln USD).

Total turnover of securities formed 2,4 trillion RUR (75,5 bln USD), which is 8% higher as compared to the same results of 2008. According to the RBC.Rating, Veles Capital is rated in TOP-10 amongst largest Russian investment companies on total turnover of securities. Moreover the company improved it’s positions in this rating (+ 2 grades).

The year 2009 was the first one since 2001 when Veles Capital’s turnover on stock market exceeded turnover on promissory notes market and formed 999 bln RUR (31,4 bln USD) (+208% as compared to 2008 resultes). The company is rated in TOP-10 amongst largest investment companies on stock market turnover (RBC. Rating, results 2009)

Promissory notes market turnover formed 993 bln RUR (31,2 bln USD) and Veles Capital was again rated the leader of the market, taking 55% of total promissory notes turnover in Russia, (RBC.Rating, results 2009).

Bond market turnover formed 394 bln RUR (12,4 bln USD). Moreover Eurobond’s market turnover increased dramatically and formed 98,6 bln RUR (3,1 bln RUR) wich in in 49 times higher as compares to 2008 results.

The amount of depositors in Veles Capita’s depositary increased in 3,5 times.

“In spite of the fact that at the beginning of the year the economical situation was far from being positive, we estimate the 2009 results as quite good the company’s business. We continued with developing our brokerage services on stock market and the results show that we have very good perspectives in this business” – commented the 2009 results Veles Capital’s CEO Alexey Gnedovsky.

Veles Capital has been operated on the Russian financial market since 1995 and this year celebrates 15 years from the date of establishment. Veles Capital is one of the just few Russian investment companies with Standard&Poor’s reliability rating (B-/stable/C/ruBBB). Rating on national scale and the rating forecast were increased in April 2010. Moreover the company has rating of National Rating Agency on AA level (very high reliability, second level, positive forecast; rating was confirmed in February 2010). The company renders full range of financial services including trust management, brokerage on stock and debt markets, strategic investments, corporate finance, wealth management. Veles Capital is the acknowledged leader of the promissory-notes market and is also rated amongst TOP-10 of the largest bond and stock market operators (Source: RBC.Rating, results 2009). Veles Capital brand unites companies of different spheres: management of collective investments (Veles Management), development and management of real-estate objects (Veles Capital Development), law consulting (Veles Lex), HR-consulting (Veles Personnel), and foreign investment companies in Cyprus and Ukraine.