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June 2010

Financial Results for FY2009 under IFRS. June 2010. General group information. OTKRITIE Financial Corporation Ltd. is one of Russia’s leading banking groups which major business areas include investment banking, commercial banking, brokerage services, and asset management.

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June 2010

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  1. Financial Results for FY2009 under IFRS June 2010

  2. General group information OTKRITIE Financial Corporation Ltd. is one of Russia’s leading banking groups which major business areas include investment banking, commercial banking, brokerage services, and asset management. Today, FC OTKRITIE Group offers private, corporate and institutional investors a wide range of services in the Russian and international capital markets and a traditional banking product line. OTRITIE Financial Corporation Ltd. is the major Group’s company. It was founded as a limited company under the law of the Russian Federation on March 17, 2004. Its head office is located in Moscow. The company’s registered address is 49, Kalanchevskaya str., Moscow, Russia. The Group has 23 regional representative offices in the following cities of the Russian Federation: Saint-Petersburg, Tver, Chelyabinsk, Izhevsk, Samara, Kazan, Krasnoyarsk, Voronezh, Rostov-on-Don, Novorossiysk, Tyumen, Ulyanovsk, Nizhny Novgorod, Yekaterinburg, Kaliningrad, Murmansk, Syktyvkar, Krasnodar, Vladivostok, Lipetsk, Tolyatti, Cheboksary, as well as in Limassol (Cyprus), Frankfurt (Germany), and London (Great Britain).

  3. Major subsidiaries and associates Note:The consolidated financial statements include the following mutual funds: "OTKRITIE Shares" Open Mutual Fund, "OTKRITIE -Bonds" Open Mutual Fund, "OTKRITIE MICEX Index" Mutual Fund, OTKRITIE-Telecom MICEX Index Open-End Mutual Fund, "OTKRITIE Energy" Interval Mutual Fund, "OTKRITIE – Perspective Companies" Mutual Fund, "OTKRITIE – Project Investments" Closed Mutual Fund, and OTKRITIE Financial Institutions Closed Mutual Fund.

  4. Assets and liabilities

  5. Financial highlights for 2009 • In November 2008, the Group acquired 100% interest in Commercial Bank Russian Development Bank CJSC (Otkritie Commercial Bank JSC). • In March 2009, VTB Group acquired a 19.9% stake in the Otkritie Financial Corporation Ltd. via an additional share issue. • In April 2009, the Group bought 25% of additional issue shares of the Petrovsky Bank OJSC (the former bank’s name is VEFK). • The Group sold shares of the Otkritie UES Capital Partners Fund PLC (Cyprus).

  6. Loans to customers 28,786 • Corporate loans share in portfolio reduced by 24.6% • Retail loans share in portfolio reduced by 53% • Credit portfolio reduced by 29% • The reduction of credit portfolio resulted from completing the toxic assets transfer from Otkritie Commercial Bank balance sheet under the bank’s Financial Recovery Plan and reviewing its credit policy towards a more strict approach to selecting new borrowers, and temporary suspending of main retail lending programs in the first quarter of 2009.

  7. Securities portfolio • In 2009, the Group purchased a 25% stake in • Petrovsky Bank OJSC • In 2009, the Group purchased a 49% stake in • OP MasterHoldingLtd. • Trade portfolio as of December 31, 2009 has • increased due to increased securities market • activity • In 2009, the Group sold its stake in Otkritie UES • Capital Partners Fund PLCand invested in the • Paveletskaya project

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