The outlook revision was motivated by the commencement of the turnaround procedure PJSC BALTINVESTBANK in which Absolut Bank (PAO) is engaged. The money resources allocated by the investor have substantially increased the level of highly liquid assets (to 11.8%) and improved liquidity ratios to levels acceptable by the regulatory authority.

These efforts have minimized the risk of a failure in performing obligations to clients and depositors, which indicates the presence of conditions for restoration of the Bank's steady operations.

AK&M Rating Agency assigned a credit rating to PJSC BALTINVESTBANK for the first time on December 2, 2008. The last rating action in relation to the Bank was taken on November 19, 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 BALTINVESTBANK 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.