Expert RA

Expert RA has affirmed the B++ rating to Rosprombank

May 29, 2008

Expert RA has affirmed the B++ (acceptable level of creditworthiness) rating to Rosprombank.

The positive assessment was due to high adequacy of capital and good profitability. Significant market experience and active regional expansion constitute other pluses. The bank positive status may be strengthened by selling Rosprombank control stock to a new shareholder: 50.04% of RPB-Holding shares were bought by Marfin Popular Bank Co Ltd from Cyprus. Upon completion of the deal 49.89% of shares would remain in RPB-Holding, and 0.07% would be held by a non-commercial organization Association of the regional banks of Russia.

“The Bank creditworthiness rating assessment is limited by insufficient diversification of its fund sources and investments by brunches and big borrowers”, - says Marina Chernysheva, Expert RA, leading expert of department of ratings of financial institutions. Funding nature of Rosprombank took negative effect on the rating.

Rosprombank’s activity is focused on calculation and cash services for the real economy sector. The bank is active in crediting SME and gradually develops retail business. The Bank assets by Russian accounting standards by January 1, 2008 amounted to 10 bln rubles (153 in ranking by size of assets, Expert RA), own funds – 1.5 bln rubles, profit before tax - 601 mln rubles.

The Bank fulfills norms of capital adequacy (Н1)