Zenit Bank

Zenit Banking Group was formed in 2005 as a result of the purchase by Zenit Bank of a controlling stake in Devon Credit. In 2007, the Group acquired Lipetskcombank and Sochi Gazprombank (later renamed Zenit Bank Sochi). In December 2008, Spiritbank (Tula) became part of the Group. According to the Group’s IFRS consolidated statement for 1H10, equity capital amounts to R21.2 bln and assets total R197 bln. The Group provides a full range of banking services: comprehensive services to corporate clients, retail services, private banking, investment banking and interbank business. Zenit Banking Group is represented in 23 of 83 regions of the Russian Federation; and its own retail network consists of 157 points of sale. The Group has created a wide international correspondent network of banking partners at more than 100 international institutions in Europe, the US and Asia. Zenit Bank is currently rated Bа3/Stable by Moody’s and B+/Stable by Fitch.