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Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
Investor presentation June 2013
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Investor presentation June 2013

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  1. Bank VozrozhdenieSteady growth despite economy decelerationInvestor presentationJune 2013
  2. 2This page is intentionally left blank
  3. 3AgendaBusiness modelBusiness overviewRecent IFRS resultsInvestment summary
  4. 4Over 20 years of successful development1991-1992 1993-1995Establishmentand bankinglicense34 branchesin the MoscowOblast1996-1998 2003-20041999-2002 2005-2006 2007-2008 2009-2010 2011-20129 new regionalbranchesopenedCash collectionand deliveryservicesestablishedCorr. accountswith westernbanksLicense forforeignexchangeAssociatemember of VISAInternationalAuthorized Bankof the RussianGovernmentJoined S.W.I.F.T.Joined theWorld BankdevelopmentprogramCooperationwith CIBCS&P ratingRated by theCentral Bankas a stablebank afterthe financialCrisisCIBCbecomes ashareholderThe 3rdlargestbranchnetworkTop 10 bydepositsfromindividualsTop 3 in theStateMortgageProgramTop 7mortgageproviderBest mid-cap Russianbank (BigMoney)$ 177 mlnraised by20th issue3rd bylending toSME$81 mlnEBRDfinancingTop 10 bybank cardsissuedBest SMEbank inMoscowOblastTop 10 retailbanks inRussiaFirst MBSdeal on Rub4,1 blnBank’s ADRstraded on theFrankfurtStockExchangeEstablishedATM networkand aprocessingcenterTop 20 bycorporateloan portfolioWidest ATMnetwork inthe MoscowOblastOver 100,000VISA cardsissued17th equityissue raises$33 millionJoinedDepositInsuranceProgramOverallrebrandingCRM systemdevelopmentThe mosttransparentbank inRussia (S&P)Top 500world’sbankingbrandsBest bank IRand best IRprofessional(ThomsonReuters )Bank of theYear in Russiain 2010 (TheBanker)Over 1,550,000clientsBest publiccompany(Secret FirmyMagazine)AlexanderDolgopolovappointedas theChairman oftheManagementBoardV.Banklaunchedproject oncostefficiency2013Best CorporateGovernance,Russia (WorldFinance)Best IRManagementin Russia(GlobalBanking &Financereview)
  5. 5Prudent risk-management policyBalanced Lending and Funding policyServicing retail customers throughout their whole life-cycleServicing Corporate and SME Customers In Each Stage OfBusiness DevelopmentVozrozhdenie Bankstrategy…… 1 522 000 Retail Clients…… 61 400 Corporate and SME Clients…… 21 Region… 146 Offices… 841 ATMs… 6 173 employeesFocus On Core Banking Products…service……via…Increasing efficiency in service deliveryVozrozhdenie Bank - a Community Bank built on strong relationshipswith SMEs and individual customers
  6. 6Moscow Oblast is a home territory withhistorically strong market position21 region of presence.Focus on the most attractiveSouth and North-WestBranches Sub branches Retail offices34 42 13 89TotalAs of 01.06.2013521 ATMs – every town is under coverage19 36 2 57Total320 ATMsRetail officesBranches Sub branchesDistribution network
  7. 7* RBC most recent rankingsKey Figures, RUBAssetsLoansCustomer FundsNet IncomeShareholders equityRetail ClientsCorporate ClientsPersonnelOfficesATMs209,062 mln141,662 mln163,876 mln2,331 mln20,807 mln1,522,00061,4006,173148840Loans to SMEs 61738/192813Volume of retail depositsBranches/ATMsNet AssetsBank cards issuedRankings*Corporate loans 21Mortgages 9Basic information & position in Russian banking system
  8. 8TNS loyalty surveyLoyalty index equals top 10% of majorinternational banks94% of our clients are ready to recommend usBa3/D-/NP, stableBB-/ruAA-, stableMICEX Financial IndexA1 MICEXMoody’sStandard&Poor’sIncluded in indicesListingIPSOS survey85% of respondents in our regions know usBrandFinance Banking 500 surveyV.bank ranks among top-10 Russian most valuablebanking brands with brand value of $190 millionThe BankerV.Bank – “The Bank of the year 2010 in Russia”as per the survey of The Banker magazine710131619222501.01.06 01.12.06 01.11.07 01.10.08 01.09.09 01.08.10 01.07.11 01.06.12S&PinternationalBB-Ba3MoodysMoodys InterfaxMoodysAaaAaABaaBaBCaaS&Pnational scaleS&PruAA-AAAAAABBBBBBCCCAa3.ruMarket recognitionCredit ratings ListingHigh recognition of brandWorld FinanceV.Bank was awarded for the “Best CorporateGovernance, Russia”, according to World Financesurvey
  9. 9Business model
  10. 10Personal bank forcorporate and retail customersRetail customersServicing throughout their whole life-cycleCorporate clientsServicing on each stage of businessdevelopmentFocus on core bankingproductsBalanced Credit andResource policiesPayrolls combine retail andcorporate segmentsCustomer acquisitionExpansion of branches andATMs networkGrowth of individual depositorsand borrowers numberMarket strategy
  11. 1159% 63% 60% 58% 64%41%37% 40% 42%36%3 4023 773 3 875 3 7433 490Q112 Q212 Q312 Q412 Q113Non-interest income Net interest income118 91 98 124 1312628 31 3334144152 151156164Q112 Q212 Q312 Q412 Q113Retail loansCorporate loans- Customer oriented organic growth- Conservative balance sheet- Primarily deposit funded- Focused network expansion- Increasing efficiency in service deliveryNote: all loans are gross loansRUB blnRUB bln20%80%RUB bln32%67%Business modelBusiness based on relationships… … gives stable non-interest incomeLoan portfolio development… … funded by customer accounts94 101 103 107 1104940 4857 53143 152 151164 163Q112 Q212 Q312 Q412 Q113Interest-bearing DepositsInterest-free Current accounts
  12. 124%55%15%6%1%19%Assets and liabilitiesRUB bln12 12 12 12 12106 111 107 110 1172527 30 32321412 12 8110,4 0,4 0,4 6 12732 3341 37183194 195 209 210Q112 Q212 Q312 Q412 Q113Cash andequivalentsDue frombanksSecuritiesRetail loansCorporateloansOtherassetsReliable assets structure… …supported by customer-based funding19 20 20 21 214 4 5 6 72 3 3 4 47 7 8 8 88 8 8 7 722 24 25 26 2631 32 30 36 3518 19 1821 187277 7881 84183194 195209 210Q112 Q212 Q312 Q412 Q113Retail depositsRetail accountsCorp. accountsCorp. depositsSecurities issuedDue to other banksOther liabilitiesSubordinatedloansEquityRUB blnRUB blnShare of IEA on the rise L/D ratio back to optimumRUB bln144 152 151 156 164143 152 151 164 163101% 100% 100% 95%101%Q112 Q212 Q312 Q412 Q113Gross loans Customer funds L/D ratioCorporate loanportfolioRetail loanportfolioOther assetsDue from otherbanksCash andequivalentsSecurities23%77%78%
  13. 1322 24 25 26 2672 77 78 81 8431 32 30 36 3518 19 1821 18Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013Corporate deposits Retail depositsCorporate accounts Retail accountsTiming of loan book expansion lagged deposits’ growthRUB blnLoan book major growth came at the end of Q1… …while deposits were raised at the year-end83777778744645414341232221191711111110912233Q1 2013Q4 2012Q3 2012Q2 2012Q1 2012SME Large corporates Mortgage Other retail Administrations+5%+14,1%RUB bln+14,3%-0,3%32%157 157159 161164Nov Dec Jan Feb Mar149163161 163 163Nov Dec Jan Feb MarMonthly loan portfolio growth(RAS)Monthly customer fundsgrowth (RAS)
  14. 14Segment Total credit exposure, RUB mlnLarge business > 750Medium-size and small businesses 30 - 750Micro businesses 6 - 30Food processing – factories manufacturing different types ofhigh-quality food and drinks.Petrol stations networks – complex service of high-quality petrol,minimarkets and café, car washes and technical services.Pharmacies networks – still healthy demand both for beautyproducts and medicines.Food retailers– small chains of handy stores “Close-to-House”style for daily shopping located in dormitory area with highdensity of population.Who are SMEs?What is our SME Definitions
  15. 1561,2 61,1 59,6 58,2 61,04,5 5,0 4,4 4,55,065,8 66,0 64,0 62,7 66,001.02.13 01.03.13 01.04.13 01.05.13 01.06.13RUR FX5.3%32%2%14% 15%3 3 2 2 174 78 77 77 834143 41 4546118 124 120 124131Q112 Q212 Q312 Q412 Q113+5.8%13%73%0,00%10,00%20,00%30,00%40,00%50,00%60,00%70,00%80,00%up to 30 mln 30-100 mln 100-750 mln more than 750 mlnRUB blnLarge corporations SMEs Other * as of December 31, 201235%64%1%Share of portfolioShare of clients43%10%7,6%22 24 25 26 263132 3036 355356 5562 60Q112 Q212 Q312 Q412 Q113Term Deposits Current Accounts -2.4% RUB bln57%43%* under RASCorporate businessCorporate lending – focus remains on SMEs……with 70% of loans less than RUB 0,75 blnissued to 98% of clientsCorporate funding... …mostly nominated in RUB
  16. 166,3%14,8%17,9%31,0%15,9% 14,2%up to 30days31-90days91-180days181 - 365days1 - 2 years > 2 yearsCorporate portfolio35429 25 204109575013Loan amountCollateral value112,5 114,1 116,6 115,2 115,914,1 14,1 14,9 14,5 14,811,1% 11,0% 11,3% 11,2% 11,3%01.02.13 01.03.13 01.04.13 01.05.13 01.06.1311.3%RUB blnFX loansRUB loansRealEstateGovernmentguaranteesEquipment& VehicleGuaranteesOthercollateral&blankRUB bln70%*Guarantees are not taken into account*as of March 31, 2013…maintaining industry diversification…in the same currency as SMEs revenues…Conservative risk profileCredit policy sticks to reliable collateral… ….providing mostly working capital…Average LTV:58%*29%1%22%2%7%6%4%6%23%ConstructionManufacturingAgricultureWholesale &retail tradeAdministrationsOtherTransportReal estateRUB164,208mln*as of April 30, 2013*as of March 31, 2013
  17. 176,4 7,2 8,0 8,1 8,30,4 0,4 0,4 0,4 0,42,2 2,1 2,1 2,1 2,117,018,520,8 22,3 22,825,928,331,432,8 33,6Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013Retail lending – promising segment25,2 13,4 26,3 27,4 28,60,4 0,4 0,70,40,425,6 26,0 26,7 27,7 29,001.02.13 01.03.13 01.04.13 01.05.13 01.06.1351015202501.04.10 01.10.10 01.04.11 01.10.11 01.04.12 01.10.12 01.04.13Consumer loans, RUBMortgages, RUBCredit cards, RUB1,9% 2,4%13,6%82,1%up to 90 days 91-365 days 1 - 2 years > 2 yearsRetail portfolio1.3%RUB blnConsumer loansMortgagesCredit cardsCar loansRUB blnFX loans RUB loansHigh-margin consumer loans tocustomers with apparent cash-flow–management of corporate clientsPrimarily mortgages under state-relatedagency JSC “AHML” standardsWe plan to further expand retail portfolio, which was animportant growth driver in the recent yearsParticular focus is on mortgages as the most perspectivesegment*as of March 31, 2013Retail loans maturityRetail loan book changes (IFRS)Rates for retail loansCurrency breakdown (RAS)
  18. 18Card business – reliable source of non-interest incomeQ2 2012 Q3 2012 Q4 2012 Q1 2013Payrolls 12,800 13,500 14,000 14,200Debit cards 1,341,684 1,360,845 1,381,959 1,360,308Creditcards45,671 45,471 46,646 48,297ATMs 811 812 819 838CorporateclientsRetailclients- Payrolls- Acquiring- Self-servicetransactions- Credit cards70%18%82%InterestFees &commissions- Payrolls is the main tool for client base growth withstrong potential – 61,400 of existing corporate clients and17,000 installed “client-bank” systems- Offering cards only to existing corporate clients: creditcards for owners, top and mid-level managers andspecialists, debit cards for personnel- Pushing cross-sales between retail and corporate32%22%19%15%12%1acquiringself-servicecash operationsVisa and MastercardpayrollsKey points…developing key card product - payrolls…Generates strong fee incomeBusiness strategy…
  19. 19Risk management
  20. 20Risk management11,8% 11,6%12,1% 12,3% 11,9%13,4% 13,2%14,2%14,8% 14,9%11,9%Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 01.06.2013Tier 1 Tier 1 + Tier 2CAR (N1)under CBR rules11%MINCapital position enhanced by subordinationFX structureBalance sheet structureInterest rate risk01020304050607080Demand and lessthan 1 monthFrom 1 to 6monthsFrom 6 to 12monthsMore than 1 yearAssetsLiabilitiesRUB bln010203040506070Demand and lessthan 1 monthFrom 1 to 6monthsFrom 6 to 12monthsMore than 1 yearInterest-earning assetsInterest-bearing liabilitiesRUB blnRUB bln80%15%5%AssetsRoublesUS DollarsOther81%13%6%Liabilities
  21. 213 400 3 400 5 445 5 445 8 0988,9%10,1%12,2%11,9% 13,3%8,3% 8,0%13,2% 12,2%17,6%Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013Large corporatesNPLs, RUB mln Provisions, % of total portfolio NPLs, % of total portfolio8 263 8 120 7 841 7 765 7 77211,1%10,4% 10,5% 10,5%9,8%10,8%10,0%9,9%9,8%9,2%Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013SMEs827 777 965 892 1 0094,3%3,6% 3,5% 3,5% 3,6%3,2% 2,7%3,1% 2,7% 3,0%Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013RetailCredit quality management15* NPL includes the whole principal of loans at least one day overdue either onprincipal or interest as well as not overdue loans with signs of impairment2,46%1,17%2,86%2,24%1,02%2,46%1,83%2,06%1,65%1,02%Q1 2013Q4 2012Q3 2012Q2 2012Q1 2012Charges to provisions to avggross loans, QoQCharges to provisions to avggross loans, YtD+ Rub 329 mln new NPLs- Rub 322 mln recoveries + Rub 171 mln new NPLs- Rub 55 mln recoveries12 490 12 297 14 251 14 102 16 8799,25% 9,09%9,52% 9,40%9,54%8,68%8,08%9,41% 9,02%10,28%Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013NPLs, RUB mlnProvisions, % of total portfolioNPLs, % of total portfolio*+ Rub 2,654 mln new NPLs- Rub 1 mln recoveriesNPLs categorization: improvement in core SMEsAnnualized cost of riskNPLs dynamics
  22. 22Credit qualityas of 31.03.2013LargecorporatesSMEs Mortgages OtherretailTotalGross loans, including 46,060 84,581 22,819 10,748 164,208Current loans 82.4% 90.8% 98.1% 94.7% 89.7%Past-due but not impaired, ofthem - 0.2% 1.3% 1.2% 0.4%Less than 90 days - 0.2% 0.4% 1.1% 0.2%Over 90 days - - 0.9% 0.1% 0.1%Impaired, of them 17.6% 9.0% 0.6% 4.1% 9.9%Less than 90 days 5.8% 0.1% - 0.3% 1.7%Over 90 days 11.8% 8.9% 0.6% 3.8% 8.2%Total NPLs 17.6% 9.2% 1.9% 5.3% 10.3%Provisions -13.3% -9.8% -2.8% -5.3% -9.5%Net Loans 39,951 76,253 22,169 10,177 148,550Provisionsto NPLsRatioNPL -93%RescheduledLoans5.3%the whole amount of loans with principal overdue for more than 1 day aswell as loans with any delay in interest payments.Provisionsto 90days+ NPLs114%RUB mln
  23. 23Recent IFRS results
  24. 24Financial highlightsQ1’13 Q4’12 Q1’12 Y-o-Y Q-o-QNet interest income 2,180 2,394 2,149 1.4% -8.9%Net fee and commission income 1,107 1,324 1,126 -1.7% -16.4%Total operating income b.p. 3,490 3,743 3,402 2.6% -6.8%Operating expenses (2,091) (2,421) (2,042) 2.4% -13.6%Charges to provisions including (964) (584) (671) 43.6% 65.0%- provisions for loan impairment (985) (451) (258)- provisions for impairment of otherassets21 (133) (313)Net profit 333 544 526 -36.7% -38.8%RUB mln
  25. 253 061 2 9991 194 1 195163 12243 135-420 -482-1 275 -1 325-142 -142-220 -284Q4 2012 Q1 2013Corporate business Retail business Securities Interbank*Revenues from core businessesFee incomeInterest income-71 -79 -85 -100 -93-21 -17 -19 -50 -22175 191 203 192 174331 384397 415317316373 375 376304280314326 3553221161251231361051 126 1 291 1 320 1 324 1 107Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013PayrollsCardsCashtransactionsSettlementsOther rev.RUB mln RUB mlnNet interest income was affected by higher interestexpenses on corporate and retail depositsLow-cost fee generating products deliver 32% of totaloperating income adding stability to revenue baseCardsOther exp.*Interbank expenses include interest on AHML financing under securization dealand interest on subordinated loans
  26. 266,3% 7,2%7,6%6,7%7,4%5,3% 5,8% 6,1% 6,4% 6,4%0,1% 0,1% 0,1% 0,1% 0,4%Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013Corporate term depositsRetail term depositsCurrent accountsNIM contraction due to seasonal effects and base growthLoan yields contracted due to lagging creditgrowth… …while deposit costs added up on year-end inflowsNIM decompositionSpread dynamics10,3% 10,8% 10,9% 11,3% 10,6%14,8%14,9% 14,9% 15,4% 14,9%5,6% 6,4% 5,5%6,8%5,2%Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013Yields on corporate loansYields on retail loansYields on securities6,9% 6,7% 6,7% 7,1%6,3%10,8% 11,2% 11,4% 11,7% 11,2%4,0% 4,4% 4,7%4,6% 4,9%Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013Interest SpreadYield on earning assets (net)Cost of funds -0,10%-0,22%-0,08% -0,18%Loans Deposits Other Base effect4,7% 4,8% 4,6% 4,7%4,2%Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013
  27. 27Net profit affected by elevated provisioning-0,4 -0,8-1,1-0,5-1,01,4 1,6 1,81,3 1,4Operating profit before provisions and taxesProvisionsQ1 2013Q4 2012Q1 2012 Q2 2012+5.8%Q3 201229,0%33,9%36,6%25,8% 26,7%11,2%14,0%11,7% 10,6%6,3%Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013Operating profit before provisions and taxation/Average equityROE3,0%3,5%3,8%2,6% 2,7%1,1%1,4%1,2% 1,1%0,6%Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013Operating profit before provisions and taxation / AssetsROAOperating efficiencyPositive operating performanceROA, %ROE, %48,7%72,5%64,8%58,5% 59,9%2009 2010 2011 2012 1Q 2013Rub 500 mln of investments planned under operatingmodel optimization project in 2013RUB mln Cost-to-Income ratio, %
  28. 28Capital structure
  29. 2932% 30%38%SHAREHOLDER STAKE IN EQUITYDmitry L. Orlov (Chairman of the Board of Directors) 32.03%Otar L. Margania (Member of the Board of Directors) 19.67%JPM International Consumer Holding Inc. 9.88%Total 61.58%As per MICEX dataH1 2010 H2 2010 H1 2011 H2 2011 H1 2012 H2 2012MICEX 762,594 744,081 551,544 892,502 1,966,722 535,131RTS 220,714 186,333 65,303 82,098 50,437 30,230German stockexchanges (ADR)33,358 24,054 13,444 3,255 3,685 7,300Sub-total (stockexchanges)1,016,666 954,468 630,291 977,855 2,020,844 572,661OTC 903,256 1,109,859 1,080,856 2,141,597 873,225 1,421,277Total 1,919,922 2,064,327 1,711,147 3,119,452 2,894,069 1,993,938Chairman OthersStructure as of 11.05.2012More than 8,000individuals and 1,000companies are amongour shareholders withprofessional investorsowning more than38%*Volume growth associated with strategic dealsCapital structureShare price on MICEXShareholding structureVolumes of trading (shares)Major shareholders020040060080011010010001000001.06.2012 01.09.2012 01.12.2012 01.03.2013 01.06.2013RoublesSharesVolume Last price
  30. 30V.Bank wasawarded asthe Bank of theYear in Russiain 2010AndreyShalimovwasawarded forthe Best IRin 2012CHAIRMAN OF THEMANAGEMENT BOARD*Mr. Alexander DolgopolovGENERALMEETING OFSHAREHOLDERSBOARD OF DIRECTORS12 members10 are non-executive6 independentSystem of control- Timely information provision to investors- Full disclosure on web-site- Quarterly IFRS financial reporting with web-castpresentations- Financial reports under IFRS audited from 1991- Solid and professional teamThe mostshareholdertransparent bankin Russia – 2006,2007, 2008Dmitry Orlov is includedin top10 of the best bank’smanagers 2009HR andCompensationCommitteeContinuing excellent reputation recognition:AUDITORPricewaterhouseCoopersAudit commissionAudit committeeInternal Controland Audit ServiceRisk ManagementMANAGEMENT STRUCTUREMANAGEMENT BOARD13 members5 Deputy ChairmenThe arrows represent the authorities to appointor elect the relevant Bank’s bodies and theExternal AuditorHigh level of corporate governanceV.Bank hasthe BestCorporateGovernance inRussia, 2013* As per the decision of the annual general shareholders meeting of 2012 Chairman of theManagement Board is appointed by the Board f Directors
  31. 31More than 20 years in Top-30 Russian banks amidchanging competition landscapeSuccessfully passed through recent crises (1993-94,1998, 2004, 2008)Business model generating solid fees & commissions(40% of revenue)Organic growth in core regions and client segmentsFocus on operating efficiencyOne of the most transparent FI in Russia – BestCorporate Governance by World Finance in 2013,leaders of Information Transparency to Shareholdersby S&P in 2008, 2007, 2006Management Board (13 members) with long-termbanking experience, the Board of Directors headed byChairman with 40 years in Soviet and Russianbanking systemsPositive track-record of communication with investorsLoyal clientele due to strong relationships with thecustomers60% of client base is concentrated in fast growingMoscow OblastCorporate business focused on high-profitableSME, retail one – on mortgagesBroad product line based on advanced IT-solutionsS O U N D S T R A T E G Y B U S I N E S S S T R E N G T H SC U R R E N T C H AL L E N G E SH I G H S T AN D A R D S Ongoing pressure on lending rates driven by state banks Limited demand from key client sector – SME Still high potential credit riskFinancial markets turbulenceThreat of global economy slowdownStill high potential credit riskInvestment Summary
  32. 32+7 495 620 90 71investor@voz.ruhttp://www.vbank.ru/en/investorsFollow us on Twitter:www.twitter.com/vbank_IRInvestor Relations contactsYulia Vinogradova, Advisor to the ChairmanYu.Vinogradova@voz.ruElena Mironova, Deputy head of IRE.Mironova@voz.ruMaria Gorbunova, IR specialistM.Gorbunova@voz.ruDownload presentation:Download contacts:
  33. 33Some of the information in this presentation may contain projections or other forward-looking statements regarding future events or the future financialperformance of Bank Vozrozhdenie (the Bank). Such forward-looking statements are based on numerous assumptions regarding the Bank’s present andfuture business strategies and the environment in which the Bank will operate in the future.The Bank cautions you that these statements are not guarantees of future performance and involve risks, uncertainties and other important factors that wecannot predict with certainty. Accordingly, our actual outcomes and results may differ materially from what we have expressed or forecasted in theforward-looking statements. These forward-looking statements speak only as at the date of this presentation and are subject to change without notice. Wedo not intend to update these statements to make them conform with actual results.The Bank is not responsible for statements and forward-looking statements including the following information:- assessment of the Bank’s future operating and financial results as well as forecasts of the present value of future cash flows and related factors;- economic outlook and industry trends;- the Bank’s anticipated capital expenditures and plans relating to expansion of the Bank’s network and development of the new services;- the Bank’s expectations as to its position on the financial market and plans on development of the market segments within which the Bank operates;- the Bank’s expectations as to regulatory changes and assessment of impact of regulatory initiatives on the Bank’s activity.Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from thoseexpressed or implied by these forward-looking statements. These risks, uncertainties and other factors include:- risks relating to changes in political, economic and social conditions in Russia as well as changes in global economic conditions;- risks related to Russian legislation, regulation and taxation;- risks relating to the Bank’s activity, including the achievement of the anticipated results, levels of profitability and growth, ability to create and meetdemand for the Bank’s services including their promotion, and the ability of the Bank to remain competitive.Many of these factors are beyond the Bank’s ability to control and predict. Given these and other uncertainties the Bank cautions not to place unduereliance on any of the forward-looking statements contained herein or otherwise.The Bank does not undertake any obligations to release publicly any revisions to these forward-looking statements to reflect events or circumstances afterthe date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable laws.Disclaimer

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