The ‘A' rating indicates that Open Joint-Stock Company PERM JOINT-STOCK ECOLOGICAL/INDUSTRIAL COMMERCIAL BANK ECOPROMBANK is qualified as a highly reliable borrower. Risk of a delay in meeting liabilities is relatively low, restructuring risk for the loan / part of the loan is minimal.

The rating score is supported by the Bank's steady position in the region, high capital adequacy and quality, good liquidity and the growing 2011 profit.

In Perm Krai, the Bank ranks first in the capital stock, second in the value of assets and profit among five independent banks of Perm Krai. As of January 1, 2012, the Bank's capital accounted for 53% of the total capital of the regional banks, its assets accounted for 34% of the regional banks' total assets.

In 2011, the Bank's capital increased by 61.9% resulting from an increase in the authorized capital by RUB 1,500,000 thousand. The Bank's capital adequacy ratio is fairly high and did drop below 23% in 2010-2011. At the end of 2011, this value increased reaching 41.6% as of February 1, 2012.

The quality of the Bank's capital is sufficiently high. The tier 1 capital was 88% of the bank's equity capital as of February 1, 2012. The capital quality ratio (he ratio of tier 2 capital to tier 1 capital) was no more than 34% in 2010 and early 2011 and has been below 30% since March 1, 2011, thus meeting the guidelines of the Basel Committee and the Central Bank of the Russian Federation.

OJSC AKB">AKB ECOPROMBANK's liquidity meets the specified standard values. In 2011, the Bank's liquidity ratios improved and have been above the average level across the banking sector in the Russian Federation since late 2011. As of January 1, 2012, its quick liquidity ratio was 128.6%; current liquidity ratio was 105.0%; long-term liquidity ratio was 12.4% (against 60.1%; 81.6% and 82.0% in the banking sector, respectively).

In 2011, the Bank's profit increased considerably. Pre-tax profit for 9 months 2011 rose by 75.5%, net profit by 39.3% year-on-year. Profit after tax as per Form 102 was 113.6%.

The arguments restricting the rating score of OJSC AKB">AKB ECOPROMBANK are as follows: the low quality of the loan portfolio, the low margin, the decreasing funds of enterprises and organizations and the shrinking loan portfolio over 2011.

First-class loans accounted for 14.3%, second-class loans for 31.6%, third-class loans for 46.4% at OJSC AKB">AKB ECOPROMBANK as of February 1, 2012. The share of first-class loans is far below and the share of third-class loans far above the average level across the banking sector of the Russian Federation. Delinquency percentage as of February 1, 2012 is not high (2.5% of the total amount of debt), yet 95% of the loans in arrears are more than 180 days overdue.

Legal entities account for 93.8%, physical persons for 6.2% of the loan debt. Arrearage generated by physical persons grew considerably in 2011 being approximately 3% in early 2011.

Despite the growing profit in 2011, return on assets and return on equity of the Bank are low. As of October 1, 2011 return on assets was 1.28%, return on equity was 5.18%, against the average levels 2.4% and 17.8%, respectively, across the banking sector.

The funds of enterprises and organizations at the bank in 2011 decreased by 13.0%, the loan portfolio by 4.4% (the amount of loans facilities provided to enterprises and companies by 10.9%). Funds of enterprises and organizations at the bank totaled RUB 4,508 million, loan portfolio amounted to RUB 6,175 million as of January 1, 2012.

The funds of physical persons and loans provided to them increased both in relative and absolute terms in the bank's liabilities and loan portfolio in 2011. Over 2011, amount of physical persons' deposits increased by 158.7% year-on-year to RUB 2,489 million as of January 1, 2012, loan facilities provided to physical persons by 210.3% to RUB 594,3 million.

Open Joint-Stock Company PERM JOINT-STOCK ECOLOGICAL/INDUSTRIAL COMMERCIAL BANK ECOPROMBANK has been active in the market of banking services since 1992. The Bank of Russia assigned it registration number 2011 as of August 17, 1992. The Bank possesses a license for banking operations involving rubles and foreign currencies (without attraction of deposits of monetary resources from physical persons) as of February 29, 2012 and a license for attraction of deposits of monetary resources in rubles and foreign currencies from physical persons as of February 29, 2012.

The Bank participates in the compulsory deposit insurance system (registered under no. 522 as of January 27, 2005).

The Bank is headquartered in Perm and has no additional offices or branches.

The Bank provides all types of services involving Russian rubles and foreign currencies, provides loan facilities and attracts funds from physical persons.

The Bank's auditors are: Class-Audit LLC, a member of the Russian College of Auditors (a non-profit organization) registered at: ul. Sheynkmana 110A, Yekaterinburg) and CJSC BDO, a member of the Audit Chamber of Russia (a non-profit partnership) registered at: Varshavskoye Shosse 125, bld. 1, Moscow).

This press release is based on the statement of assigning a credit quality rating to OJSC AKB">AKB ECOPROMBANK.

The rating score, along with any information and conclusions provided in this press release, only conveys our opinion on the Bank's reliability and shall not be considered as advice on the purchase and sale of securities or the provision of loan facilities to the Bank.

AK&M Rating Agency will not incur any responsibility for any interpretations, inferences and consequences related to the application of results of the rating estimation procedure by any third parties.

AK&M Rating Agency is a leading independent national rating agency engaged in rating activities since 1993.

AK&M Rating Agency is accredited by the Ministry of Finance of the Russian Federation (order no. 452 as of September 17, 2010).

AK&M Ratings are recognized by the Central Bank of Russia (for providing unsecured lending facilities – Provision 323-P), Vnesheconombank (for granting subordinated loans) and SME Bank (for its program of lending to SME businesses), RUSNANO (when selecting banks to provide business banking services to project and engineering entities implementing investment projects), the MICEX (as a prerequisite for including bonds in the Corporate Bond Index / MICEX CBI and Municipal Bond Index / MICEX MBI calculation base, for listing bonds and for providing access to the MICEX+ trading mode). Pursuant to an order of Russia's Government AK&M Ratings count for approving the capitalization increase procedure for banks. Besides, AK&M Rating Agency is recognized by AHML and accredited by SRO National Securities Market Association.

CJSC Analysis, Consulting and Marketing Rating Agency<br /> ul. Gubkina 3<br /> Moscow, Russia<br /> www.akmrating.ru<br /> Press release by: A.M. Krachkovskaya<br /> Phone no. (495) 916-70-30, fax no.: (499) 132-69-18