Standard&Poor`s

International scale

Russian National scale

^* — date of initial rating assignment
^** — date of rating confirmation

Web-site of the agency: www.standardandpoors.com

December 09, 2011

Standard & Poor’s Affirms Credit Ratings Assigned to Bank Petrocommerce

On 09 December 2011, Standard & Poor’s affirmed the following credit ratings of Bank Petrocommerce in accordance with the updated methodology:

• international scale rating: В+/В (long-term/short-term credit ratings in foreign and national currencies)
• national scale rating: ruA
• outlook: stable.

Bank Petrocommerce is currently characterized by sizable business volumes compared to its peers in the Russian financial market. Since 2000, Bank Petrocommerce has sustainably ranked among top 30 Russian banks. It enjoys robust capitalization (its tier 1 capital adequacy ratio by IFRS is more than twice as high as the floor level of 8% set by the Basel Capital Accord). The Bank’s shareholders are willing to render their financial support, if necessary. The Bank is the strategic partner and main settlement bank of the LUKOIL group in the ruble area.

The Bank’s development strategy till 2015 adopted in Q1 2011 is focused on the most promising client segments and products, including retail, and is expected to take the Bank’s operations to a whole new level. Implementation of the strategy will contribute to the expansion of the Bank’s customer base, generation of higher profit, acquisition of new competitive edges and enhancement of its positions in the Russian financial market.

The Bank has top notch expertise in providing services to key client groups: large and medium-sized corporations, holdings, corporate clients’ employees, premium segment of individual customers, that constitute the backbone of the Bank’s clientele.

Bank Petrocommerce has sustainably enjoyed an adequate liquidity position, a low level of currency risks, a loan portfolio, which is well diversified across various economic industries, an improving situation with non-performing assets, a well diversified funding base with low reliance on international capital markets.

The Bank’s extensive regional network ensures its operations in the major economic hubs and in the regions with high growth potential.

November 30, 2010

Standard & Poor’s Affirms Credit Ratings of Bank Petrocommerce

On 30 November 2010, Standard & Poor’s international rating agency affirmed credit ratings of Bank Petrocommerce: B+/B (long-term/short-term foreign currency and domestic currency credit ratings according to the international credit rating scale) and ruA (according to the Russian national credit rating scale) with ‘Stable’ outlook.

The stable outlook reflects the opinion of the agency’s experts that asset quality indicators will stabilize at the levels reached at YE 2009 and improve moderately as the macroeconomic situation in Russia gradually improves.

April 04, 2010

Standard & Poor’s Revises Outlook on Bank Petrocommerce to ‘Stable’

 On April 04, 2010, Standard & Poor’s revised the outlook on the credit ratings of Bank Petrocommerce to ‘Stable’ from ‘Negative’.

Thus, Bank Petrocommerce is currently rated B+/B (long-term/short-term foreign currency and domestic currency credit ratings) with ‘Stable’ outlook according to the international credit rating scale and ruA according to the Russian national rating scale.

September 11, 2009

Standard & Poor’s Affirms Credit Ratings of Bank Petrocommerce

On 11 September 2009, Standard & Poor’s international rating agency affirmed credit ratings of Bank Petrocommerce.

S&P’s affirmed B+/B (long-term/short-term) international scale credit ratings and ruA national scale rating with ‘Negative’ outlook.

According to the rating agency’s credit rationale, the ratings’ affirmation is underpinned by “improved capitalization of the Bank, which partially offsets the pressure on the Bank’s credit and business profile from the economic downturn in Russia”. Bank’s ratings also reflect system-wide risks in Russia due to the economic recession and deteriorating operating environment.

On 11 September 2009, Standard & Poor’s international rating agency affirmed credit ratings of Bank Petrocommerce.

S&P’s affirmed B+/B (long-term/short-term) international scale credit ratings and ruA national scale rating with ‘Negative’ outlook.

According to the rating agency’s credit rationale, the ratings’ affirmation is underpinned by “improved capitalization of the Bank, which partially offsets the pressure on the Bank’s credit and business profile from the economic downturn in Russia”. Bank’s ratings also reflect system-wide risks in Russia due to the economic recession and deteriorating operating environment.