The outlook revision reflects higher provisions for retail loans. The amount of provisions formed by the Bank in the retail segment has reached 19% exceeding the amount of overdue debt in this segment.

We also appreciate the moderate expansion in retail deposits raised by the Bank. In Q4 2015, the monthly average growth rate in this segment decreased to 2.0%, which reduces risks of a considerable decrease in diversification of borrowings.

AK&M Rating Agency assigned a credit rating to PJSC MJSB Tempbank for the first time on July 27, 2012. The last rating action in relation to the Bank was taken on August 7, 2015. All rating action announcements are available on the akmrating.ru website.

For estimation purposes, we completely rely on the reliability of information provided by the Bank. The rationale for AK&M Rating Agency's judgment on the rating may include information acquired from other sources we deem to be reliable; however, the agency does not check the input data exhaustively and disclaims all responsibility for their possible errors.

This press release is based on the monitoring results of the current credit rating assigned to PJSC MJSB Tempbank and the Credit Rating Methodology for Banks and their Debt Instruments rev. November 27, 2015.

The rating, along with any information and conclusions provided in this press release, only conveys our opinion on the Bank's creditworthiness and shall not be construed as a recommendation to purchase or sell securities, or to lend funds.

AK&M Rating Agency shall not be held liable 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. CJSC AK&M Rating Agency is accredited by the Ministry of Finance of the Russian Federation (order no. 452 as of September 17, 2010) and is on the Central Bank of Russia's Register of Accredited Rating Agencies.

AK&M Rating Agency

Ul. Gubkina 3, Moscow, Russia

www.akmrating.ru

Phone no. (495) 916-70-30, fax no.: (499) 132-69-18.