Vzrz q1 2014_ifrs_results_eng

1. Q1 2014 IFRS Results
Flexibility adds value
Conference Call
May 28, 2014

2. 2
12 13 13 13 12
149 150 155 156 158
11 12
14 12 76,41 1
1 1 1
37 40 33 29 26
210
216 217 211 211
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014
Cash and
equivalents
Due from banks
Invest. securities
pledged under repos
Securities
Net loans
Other assets
IEA
80%
IEA
82%
Assets and liabilities
Interest-earning assets grew to 82% of balance sheet Diversified funding structure
Liquid assets share at a comfortable level L/D ratio up as client funds replaced by CBR financing
RUB bln RUB bln
RUB bln
21 21 22 22 23
7 7 5 4 43 1 1 4 17 9 9 10 14
163 169 171 162 153
5,5
8
8 9 9 10
210 216 217 211 211
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014
Due to other banks
Borrowed funds from
repos with CBR
Client funds
Securities issued
Other liabilities
Subordinated loans
Equity
164 167 173 168 172163 169 171 162 153
101% 99% 102% 104%
112%
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014
Gross loans Customer funds L/D
29
26
5
5
6,9
1,7
6,4
19,4%
18,3%
Q4 2013 Q1 2014
Securities pledged under
repos with CBR
Investment securities
available for sale
Trading securities
Cash and cash equivalents

3. 3
26 26 25 24 20
35 36 37
31
29
60
62 62
55
49
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014
Corporate deposits Corporate accounts
Customer funds - corporate
Corporate client funds continues dropping… … but not due to clients loss
RUB bln
Key points
30,7 31,9 30,4
26,4 26,2
33 32 33 32 32
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014
Average balances on corporate current accounts, Rub mln
Number of accounts, thousand
FX structure
91%
7%
2%
Rub 48.6
billion
Rouble
US Dollar
Euro
We are reluctant to raise corporate deposits, a volatile
funding source, due to fierce competition and heightened
market rates.
A decline in corporate accounts resulted from lower
average balances across the whole client base that
reflected customers’ search for diversification and growing
needs of their own businesses in working capital.
Share of FX corporate funds grew from 7% to 9 % QoQ on
the devaluation effect.
-12.3%

4. 4
Customer funds - retail
Retail client funds Credit turnover on card accounts growing
RUB bln
84 87 91 87 89
18 20 18 19 16
103
107 109 106 104
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014
Retail deposits Balances on card accounts RUB bln
Key points
73%
19%
8%
Rub 104,5
billion
Rouble
US Dollar
Euro
0
5
10
15
20
25
30
FX structure
2012 2013 2014
RUB bln
Q1 2012
38.9
Q1 2013
40.3
Q1 2014
41.4
The decline in retail funds was reasoned by seasonal
outflow from card accounts during long New Year and
Christmas holidays. However, the credit turnover in Q1
2014 improved by 2,7% YoY.
FX deposits were in clients’ demand with the proportion in
total retail funds growing to 27%.
Excluding revaluation effect, retail FX deposits grew by
3,4%.
-1.5%

5. 5
Loan portfolio
Corporate portfolio free of uncollectable NPLs Retail portfolio with mortgages leading the way
RUB blnRUB bln
46,1 50,8 52,0 51,4 51,6
83,4 78,4 80,0 73,3 75,6
1,2 0,9 0,7
0,9 0,5
131 130,2
132,6
125,6 127,8
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014
Large corporates SMEs Administrations
59%
+1,7%
22,8 24,9 27,6 29,5 30,6
8,7
9,8
10,7
11,0 11,2
2,1
2,1
2,2
2,1 2,1
33,6
36,8
40,5
42,6 43,9
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014
Mortgages
Consumer and car loans
Credit cards
The 3rd mortgage
securitization deal
on RUB3,45 billion
was successfully
closed in March
2014
70%
+2,8%
FX structure *
90%
7%
3%
Rub 171,6
billion
Rouble
US Dollar
Euro
As of April 1, 2014
20%
41% 18%
10%
11%
Moscow Other regions
South
Regions
North-West
Regions
Moscow Region
As of April 1, 2014
Rub 171,6
billion
Regional diversification of loan portfolio *
*Loan portfolio before provisions for impairment

6. 6
7 772 7 939 8 671 3 518 3 882
9,8% 10,6%
11,1%
5,3% 5,3%9,2% 10,0%
10,8%
4,7% 5,1%
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014
SMEs
8 098 8 229 8 135 7 517 7 517
13,3%
14,1%
15,2%
14,8%
16,1%
17,6%
16,2%
15,6%
14,6% 14,6%
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014
Large corporates
NPLs, Rub mln Provisions, % of total portfolio NPLs, % of total portfolio
1 009 1 102 1 810 1 350 1 730
3,6% 3,7%
3,2%
1,9%
2,0%
3,0% 3,0%
4,5%
3,2%
3,9%*
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014
Retail
Credit quality management
15
2,10%
0,57%
3,11%3,12%
2,46%
2,10%
2,30%
2,90%2,79%
2,46%
Q1 2014Q4 2013Q3 2013Q2 2013Q1 2013
Charges to provisions to avg gross loans, QoQ
Charges to provisions to avg gross loans, YtD
+Rub 553 mln new NPLs
-Rub 149 mln recoveries
-Rub 40 write-offs
+Rub 776 mln new NPLs
-Rub 396 mln recoveries
14 102 16 879 17 270 18 616 12 385 13 129
9,40%
9,54%
10,13% 10,46%
7,36% 7,70%
9,02%
10,28% 10,35%
10,75%
7,36%
7,65%
Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014
NPLs, Rub mln
Provisions, % of total portfolio
NPLs, % of total portfolio
*
no new NPLs
no recoveries
NPLs categorization
Annualized cost of riskNPLs dynamics*
* NPL includes the whole principal of loans at least one day overdue either on
principal or interest as well as not overdue loans with signs of impairment
*2,0% of which is overdue less than 30 days

7. 7
Credit quality
As of 31.03.2014
Large
corporates
SMEs Mortgages Other
retail
Total
Gross loans, including 51,573 76,178 30,622 13,233 171,606
Current loans 85.4% 94.9% 97.0% 93.9% 92.3%
Past-due but not impaired,
including - 0.3% 2.4% 1.8% 0.7%
Less than 90 days - 0.1% 2.3% 1.7% 0.6%
Over 90 days - 0.2% 0.1% 0.1% 0.1%
Impaired, including 14.6% 4.8% 0.6% 4.3% 6.9%
Less than 90 days - 0.8% 0.1% 0.5% 0.4%
Over 90 days 14.6% 4.0% 0.5% 3.8% 6.5%
Total NPLs 14.6% 5.1% 3.0% 6.1% 7.7%
Provisions -16.1% -5.3% -0.9% -4.6% -7.7%
Net Loans 43,274 72,151 30,338 12,630 158,393
Provisions to
NPLs Ratio
101%
Provisions to
90 days+ NPLs
116%
Rescheduled
Loans
6.5%
NPL -
the whole amount of loans with principal overdue for more than 1 day as well as loans with any delay in
interest payments.
RUB mln

8. 8
Financial highlights
As of 31.03.2014 1Q14 4Q13 1Q13 YoY QoQ
Interest income 5,063 5,005 4,451 13.7% 1.2%
Interest expense (2,472) (2,359) (2,271) 8.9% 4.8%
Fee and commission income 1,101 1,148 1,222 -9.9% -4.1%
Fee and commission expense (185) (208) (115) 60.9% -11.1%
Other operating income 138 96 203 -32.0% 43.8%
Total operating income b.p. 3,645 3,682 3,490 4.4% -1.0%
Operating expense (2,187) (2,417) (2,091) 4.6% -9.5%
Provisions for loan impairment (893) (244) (985) -9.3% x3.7
Provisions for impairment of other assets (9) (121) 21 - -92.6%
Taxation (128) (176) (102) 25.5% -27.3%
Net profit 428 724 333 28.5% -40.9%
RUB mln

9. 9
Target on NIM achieved
Net interest income evolution NIM decomposition
Recent changes of retail deposit ratesSpread dynamics
4,5 4,6 4,9 5,0 5,1
-2,3 -2,4 -2,5 -2,4 -2,5
2,2 2,2 2,4 2,6 2,6
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014
RUB bln
+0,15% -0,09% -0,17% +0,07%
Loans Deposits Other Base effect
4,2% 4,2%
4,5%
4,9% 4,9%
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014
6,4% 6,4% 6,7% 6,9% 6,6%
11,2% 11,5% 11,8% 11,8% 11,9%
4,8% 5,0% 5,1% 4,9% 5,3%
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014
Spread (net)
Yields on earning assets (net)
Cost of funds
6 Months
RUB
1,5-year
RUB
6 Months
FX
1,5-year
FX
Sep’13 - -0,25 pps
Feb’14 - - -0,5 pps –
-0,6 pps
-0,5 pps –
-0,6 pps
Mar’14 - +0,5 pps –
+1 pps
-0,1 pps –
-0,3 pps
-0,1 pps –
-0,3 pps

10. 10
1 107
1 215 1 247
940 916
1 058
1 137 1 145 1 169
1Q 2013 2Q 2013 3Q 2013 4Q 2013 1Q 2014
Net fee income
Net fee income with corrected gradual accruals of one-off reclass
-1,0 -1,3 -1,3 -0,4
-0,9
1,4 1,5 1,7
1,3 1,5
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014
Provisions Operating profit before provisions and taxes
2,2 2,2 2,4 2,6 2,6
1,1 1,2 1,2 0,9 0,9
0,20 0,22 0,14 0,10 0,14
-2,1 -2,1 -2,1 -2,4 -2,2
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014
Net interest income Net fees Other income Operating Expenses
Operating results
Net profitOperating profit under provisions pressure
Stable operating result Net fees
RUB bln
RUB bln
RUB mln
333
188 247
724
428
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014
Net profit RUB mln
-1.0%
+15.3% -40.9%
-21.6%
+4.2%
+4.4%
+28.5%
-13.4%

11. 11
11,9% 11,7% 11,4% 12,0%
8,8%
9,7%
14,9% 14,6%
13,2% 13,8%
11,2%
11,6%
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q4 2013 Q1 2014
Tier 1
Tier 1 + Tier 2
Total regulatory capital (Н1.0)
Common equity Tier 1 (Н1.1)
Efficiency indicators
Operating efficiencyCapital adequacy
Cost-to-Income ratio, %
ROA, %ROE, %
Basel I
Basel III
26,7%
28,8%
31,2%
23,0%
25,8%
6,3%
3,5% 4,6%
13,2%
7,6%
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014
Operating profit before provisions and taxation / Average equity
ROE
2,7%
2,9% 3,1%
2,4%
2,8%
0,6%
0,4% 0,5%
1,4%
0,8%
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014
Operating profit before provisions and taxation / Assets
ROA
59,9% 58,2% 56,0%
65,6%
60,0%
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014

12. 12
Questions and answers
investor@voz.ru
http://www.vbank.ru/en/investors
Elena Mironova
Deputy Head of IR
+7 495 620 90 71
E.Mironova@voz.ru
Andrey Shalimov
Deputy Chairman of
the Management Board
A.Shalimov@voz.ru

13. 13
Disclaimer
Some of the information in this presentation may contain projections or other forward-looking statements regarding future events or the
future financial performance of Bank Vozrozhdenie (the Bank). Such forward-looking statements are based on numerous assumptions
regarding the Bank’s present and future business strategies and the environment in which the Bank will operate in the future.
The Bank cautions you that these statements are not guarantees of future performance and involve risks, uncertainties and other important
factors that we cannot predict with certainty. Accordingly, our actual outcomes and results may differ materially from what we have
expressed or forecasted in the forward-looking statements. These forward-looking statements speak only as at the date of this presentation
and are subject to change without notice. We do not intend to update these statements to make them conform with actual results.
The Bank is not responsible for statements and forward-looking statements including the following information:
- assessment of the Bank’s future operating and financial results as well as forecasts of the present value of future cash flows and related
factors;
- economic outlook and industry trends;
- the Bank’s anticipated capital expenditures and plans relating to expansion of the Bank’s network and development of the new services;
- the Bank’s expectations as to its position on the financial market and plans on development of the market segments within which the
Bank operates;
- the Bank’s expectations as to regulatory changes and assessment of impact of regulatory initiatives on the Bank’s activity.
Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially
from those expressed or implied by these forward-looking statements. These risks, uncertainties and other factors include:
- risks relating to changes in political, economic and social conditions in Russia as well as changes in global economic conditions;
- risks related to Russian legislation, regulation and taxation;
- risks relating to the Bank’s activity, including the achievement of the anticipated results, levels of profitability and growth, ability to create
and meet demand for the Bank’s services including their promotion, and the ability of the Bank to remain competitive.
Many of these factors are beyond the Bank’s ability to control and predict. Given these and other uncertainties the Bank cautions not to
place undue reliance on any of the forward-looking statements contained herein or otherwise.
The Bank does not undertake any obligations to release publicly any revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable laws.