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leaders, 1H 2006 (US$m, %) Table 4.8: Bonds connected to real estate borrowing (RUBm, US$m, %)
Table 4.9: Ruble Eurobond issues, 2005–06 (RUBbn)
Table 5.1: Russian ABS ratings
Table 7.1: Russian acquisitions of foreign steel assets, 2003–06 (US$)
Table 7.2: Top 10 Russian M&A transactions, 2005–06 (US$m)
Table 12.1: FORTS trading volumes, 2005, 2006 (RUBm) Table 12.2: RTS trading volumes, by instrument, 3Q2006 (RUBbn)
Figure 1.1: Growth of Russian GDP, 2001–10F (US$bn, %) Figure 1.2: Russian consumer market dynamics, 1999–2006E (US$bn, %)
Figure 1.3: Average Russian monthly wage (year-end estimate), 2000–08F (US$) Figure 1.4: Russian population demographics and financial statistics (2006)
Figure 1.5: Individual Russian client wealth, 2006 (US$) Figure 1.6: World’s largest economies, 2006–07
Figure 1.7: Top holders of foreign exchange reserves (US$bn)
Figure 1.8: Russian Stabilisation Fund growth, Jan 2004–Apr 2007 (US$bn)
Figure 1.9: Russian inflation, 2003–09F (%)
Figure 1.10: Russian Federal budget revenues and expenditures, 1998–2007E (% GDP)
Figure 1.11: Oil price – Brent quarterly average, 1Q2006–4Q2007F (US$/bbl) Figure 1.12: Russian exports, by sector, 2006 (%)
Figure 2.1: Sberbank’s share of the Russian deposit market, 2003–06 (%)
Figure 2.2: Russian loans market growth, July 2004–July 2006 Figure 2.3: National household loans markets, 2006 (% of GDP) Figure 2.4: Indicators of banking sector capital adequacy (H1 standard), 1999–2006 (%) Figure 2.5: Banking liquidity indicators, Jan 2002–July 2006 (%)
v
Figure 2.6: Growth of non- performing consumer loans, July
2004–July 2006
Figure 3.1: RTS
1995–Oct 1997
Figure 3.2: RTS
1997–Oct 1998
Figure 3.3: RTS
1999–May 2007 (%)
Figure 3.4: State voting stock in top 20 RTS companies, 2000–06 (%)
Figure 3.5: Global emerging markets – country weightings, Sept 2006 (%)
Figure 3.6: P/E ratios, by sector, 2007E
Figure 3.7: Money supply vs equities, 2000–07
Figure 3.8: Equities vs oil prices, 2003–07
Figure 3.9: Russian exports, imports and oil price, 2000–09F (US$)
Figure 3.10: Breakdown of worldwide oil and gas reserves, 2006 (%)
Figure 3.11: Russian banks – excess reserves, 2003–07 (RUBbn)
Figure 3.12: Russian net private capital inflows, 1998–3Q2006 (US$bn) Figure 3.13: Russian stock movements, Jan–Feb 2007 (%) Figure 3.14: Fixed investment and stock exchange sector movements, 2004–06 (%) Figure 3.15: RTS index, Jan 2005–Mar 2007
Figure 4.1: Russian bonds – sector breakdown, Dec 2006 (%) Figure 4.2: Russian bond growth, by sector, 2003–06 (% CAGR)
Figure 4.3: Bond holder distribution, 1999–1H2005 (%) Figure 4.4: Bond maturities, 2002–1H2005 (%)
Figure 4.5: Bond distribution, by sector, 1999–2005 (%) Figure 4.6: Primary market bond issues and redemptions, 2002–1H2005 (RUBbn)
Figure 4.7: Bond trading on secondary market, 2002–1H2005 (RUBbn)
Figure 4.8: Distribution of state debt, 2004–08E (%)
Figure 4.9: Outstanding federal bonds (OFZ vs GSB, traded vs non-traded), 2006–08F (US$bn) Figure 4.10: Russian Paris Club debt – breakdown by country, Jan 2006 (%)
Figure 4.11: EMBI+ spread, 2006 (bp)
Figure 4.12: Correlation between sovereign bonds and oil prices, 2000–06 (%)
Figure 4.13: Russia’s beta, 1Q2004–3Q2006 (bp)
Figure 4.14: Russian domestic bond ownership, 2006 (%) Figure 4.15: Bank shares of bond issuance, by segment, 2006 (%)
Figure 4.16: Top corporate borrowers, 2006 (US$bn) Figure 4.17: Bond deals, 2001–Nov 2006
Figure 4.18: Bond market breakdown, by sector, 2006 (%) Figure 4.19: Russian Eurobond market 2001–07E (US$bn) Figure 4.20: Russian corporate bond issuers, Nov 2006 (%) Figure 4.21: Eurobond and CLN distribution, by type, Nov 2006 (%)
Figure 5.1: Russian securitisation, by asset class, 2006 (%)
Figure 5.2: Securitisation in Russia, 2003–06 (US$m)
Figure 6.1: Russian syndicated loans market, 2001–06 (US$bn) Figure 6.2: Russian syndicated loans market, by sector, 2005, 2006 (%)
Figure 6.3: Russian syndicated loans, by sector, 2002–06 (%)
Figure 7.1: Russian M&A transactions, 2005, 2006 (US$m) Figure 7.2: Russian M&A transactions, by sector, 2005, 2006 (US$m)
Figure 8.1: Russian private equity investment, by sector, 2005 (%)
Figure 8.2: Private equity investment, by stage, 2005 (%) Figure 8.3: Private equity investment, by Federal District, 2005 (US$m, %)
Figure 8.4: Sources of private equity capital, Russia vs India, 2006 (US$bn)
Figure 8.5: Russian IPOs, 2000–06, rebalanced (US$bn)
Figure 11.1: Growth of Russian domestic mutual funds, 2000–06 (RUBbn)
Figure 12.1: FORTS trading volumes, Sept 2001–Sept 2006 (RUBbn)
(%)
index, Sept index, Oct
index Oct