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S&P assigns credit ratings ‘B+/B’ and ‘ruA+’ national scale rating (outlook stable) to CREDIT BANK OF MOSCOW

30.01.2012

On January 27, 2012 international rating agency Standard and Poor’s assigned ‘B+’ long-term and ‘B’ short-term counterparty credit and ‘ruA+’ Russia national scale ratings to CREDIT BANK OF MOSCOW. The outlook is stable.

Among factors that positively influenced assessment of the Bank S&P indicated its “well-established position” in Moscow and Moscow region, shareholder’s support, “better-than-average asset quality measures”, “fairly low” level of nonperforming loans, “below-average sector concentration”, adequate liquidity and “healthy earning structure”.

S&P assessment simultaneously reflects execution risks related to high growth rates of assets as well as capitalization level that limits active growth of assets, competition of state-owned and larger private banks and anticipated deterioration of portfolio quality due to its seasoning.

The stable outlook reflects S&P’s view that the Bank “will manage to balance its high-paced growth with appropriate risk management measures to ensure stability of its financial performance and capitalization”.

It is worth mentioning that CBM has credit ratings from Moody’s Investors Service and Fitch Ratings. Moody’s Investors Service assigned to the Bank financial strength rating ‘E+’, long-term global local and foreign currency deposit rating ‘B1/NP’ and long-term national scale credit rating ‘A2.ru’ (outlook stable). Fitch Ratings assigned to the Bank long-term issuer default rating ‘B+’ and national long-term rating ‘A- (rus)’.