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VTB Bank (Ukraine) receives "ААА (ukr)" rating from Fitch Ratings agency

12 July 2007

Early in July 2007, Fitch Ratings agency awarded VTB Bank (Ukraine) with "AAA(ukr)", which is the highest long-term national rating. Outlook stable.

Such high rating awarded to VTB Bank (Ukraine) reflects the Bank's dynamic development and its strengthened competitive positions in the national banking sector. Today, VTB Bank regional network in Ukraine comprises 164 outlets, including 24 branches. In 2007, VTB Bank plans to open and restructure 68 outlets, and also to rebrand the operating outlets.

In accordance with VTB Group business development plans, in 2010 VTB Bank (Ukraine) network will comprise over 500 outlets.

Presently, two banks of VTB Group, in particular, JSC VTB Bank and ZAO Vneshtorgbank (Ukraine) are operating in Ukraine. As of 1 June 2007, total assets of VTB Group in Ukraine exceed USD 1 billion, its equity amounts to USD 162 million, and net profit is USD 8.0 million.

The work to develop corporate business with Ukraine companies and enterprises is continuing, and national economy financing is further enhanced. Customer credit portfolio of VTB Group banks in Ukraine amounts to USD 800 million. SME support develops especially fast, with retail outlets operating in 17 towns of the country now. Active portfolio of operations with these customers increased 1.6 times from the beginning of the year and amounted to USD 100 million.

As of 2006 year-end, total amount of VTB Group customers in Ukraine exceeded 65 thousand.

For reference:

"ААА" national rating is awarded to issuers with the best credit worthiness within one country, other participants are ranked against this issuer.

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