FINANCIAL INSTITUTIONS

ISSUER PROFILE29 November 2017

TABLE OF CONTENTSCompany overview 1Financial highlights 1Business description 2Distribution channels 3Ownership structure 4Subsidiaries 4Company management 5Company history 8Peer group 8Related websites and informationsources 8Moody’s related research 8

Contacts

Alexandra Yalozina +7.495.228.6109Associate Analystalexandra.yalozina@moodys.com

Semyon Isakov +7.495.228.6061VP-Senior Analystsemyon.isakov@moodys.com

CLIENT SERVICES

Americas 1-212-553-1653

Asia Pacific 852-3551-3077

Japan 81-3-5408-4100

EMEA 44-20-7772-5454

Alfa-BankKey Facts and Statistics - H1 June 2017

Company overviewAlfa-Bank is a Moscow-based universal bank, the seventh-largest in Russia in terms of assets– $41.8 billion as of 30 June 2017.

Alfa-Bank provides a range of banking products and services, including retail and corporatelending, current and savings accounts, trade finance, asset management, and derivative andbrokerage services, to both domestic and international customers. As of 30 June 2017, thebank operated through a network of 723 offices worldwide.

Alfa-Bank was established in 1990 as an open joint-stock company. Alfa-Bank is whollyowned by ABH Financial Limited, which is consolidated in ABH Holdings SA (ABHH). ABHH isbeneficially owned by seven shareholders. As of October 2017, its three largest shareholderswere Mikhail Fridman, German Khan and Alexei Kuzmichev, who held 32.86%, 20.97% and16.32% of ABHH’s total share capital, respectively.

Source: Company reports (interim consolidated financial statements June 2017 and June 2016, first half results presentation June2017), Company data, Moody’s Investors Service research

Financial highlightsOverviewNote: The financials presented below are those reported by the entity and are not adjusted forMoody’s analytic purposes. For Moody’s generated ratios on Alfa-Bank please see <Alfa-Bankpage on moodys.com>.

Exhibit 1

Latest full-year resultsAlfa-Bank(in $ Million) 31-Dec-16 31-Dec-15 31-Dec-14 % Change 16/15 % Change 15/14

Total Assets 38,247 31,470 43,566 21.53 (27.76)

Total Shareholders’ Equity 5,734 4,344 4,296 32.00 1.12

Shareholders’ Equity excluding Minority Interest 5,714 4,332 4,283 31.90 1.14

Total Regulatory Capital 6,613 5,468 5,899 20.94 (7.31)

Tier 1 Capital Ratio (%) 16.20 16.80 12.80 (60) bps 400 bps

Net Income 527 480 33 9.79 1354.55

Net Income Attributable to Equity Holders 533 486 33 9.67 1372.73

Note: Based on IFRS consolidated financial dataSource: Moody’s Investors Service research

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Exhibit 2

Latest half-year resultsAlfa-Bank

(in $ Million) 30-Jun-17 30-Jun-16

% Change

17/16

Total Assets 41,804 33,316 25.48

Total Shareholders' Equity 5,999 4,645 29.15

Shareholders' Equity excluding Minority Interest 5,956 4,636 28.47

Total Regulatory Capital 6,736 5,693 18.32

Tier 1 Capital Ratio (%) 15.80 16.70 (90) bps

Net Income 436 161 170.81

Net Income Attributable to Equity Holders 434 166 161.45

Note: Based on unaudited IFRS consolidated financial dataSource: Moody’s Investors Service research

Business descriptionAlfa-Bank is a universal bank that operates in many sectors of the Russian financial market. The bank organises its business activitiesinto the following three segments: Corporate and Investment Banking; Retail Banking; and Treasury.

Corporate and Investment Banking: This segment provides corporates and small and medium-size enterprises with various bankingproducts, including corporate lending, leasing, cash management, structured and trade finance operations, factoring, securities trading,debt and equity capital market services, derivative products, brokerage services, foreign exchange operations, corporate financeadvisory, and merger and acquisition services. As of 30 June 2017, this segment reported total consolidated assets of $29.5 billion, andaccounted for 39.6% of the bank’s total revenue in the first-half ended 30 June 2017 (H1 2017).

Retail Banking: This segment offers private individuals a range of banking and financial services, including credit and debit cardservices, current and savings accounts, consumer and auto loans, personal installment loans, and mortgage loans. In addition, itprovides money transfer and private banking services. As of 30 June 2017, this segment reported total consolidated assets of $3.3billion, and accounted for 23.9% of the bank’s total revenue in H1 2017.

Treasury: This segment includes the bank’s wholesale financing, internal funding reallocation, and liquidity and risk managementactivities. As of 30 June 2017, it reported total consolidated assets of $5.0 billion, and accounted for 36.5% of the bank’s total revenuein H1 2017.

Source: Company reports (interim consolidated financial statements June 2017 and June 2016, first-half results presentation June 2017)

This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page onwww.moodys.com for the most updated credit rating action information and rating history.

2 29 November 2017 Alfa-Bank: Key Facts and Statistics - H1 June 2017

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Exhibit 3

Business segment(% of total revenue, consolidated, for H1 2017)

Corporate and Investment Banking39.6%

Retail Banking23.9%

Treasury36.5%

Source: Company report (consolidated financial statements June 2017, Pg: 19)

Exhibit 4

Segment results(consolidated, in $ Million)

(59)

316

110

(67)

525

161

(100)

0

100

200

300

400

500

600

Treasury Corporate and Investment Banking Retail Banking

H1 2016 H1 2017

Source: Company report (consolidated financial statements June 2017, Pg: 19 & 20)

Distribution channelsAlfa-Bank operates primarily in Russia through one of the country’s largest branch networks. As of 30 June 2017, the bank distributedits products and services through a network comprising 723 offices (including branches, regional branches and outlets) (31 December2015: 745), both in Russia and internationally. In addition, it operated through Alfa Capital Holdings (Cyprus) Limited in Cyprus andAmsterdam Trade Bank NV in the Netherlands.

Alfa-Bank distributed its products and services through alternative distribution channels, including internet banking (Alfa-Click,servicing 1.1 million active customers) and mobile banking (Alfa Mobile, serving 1.3 million customers, and Alfa-Check SMS), as of 30June 2017. The bank conducts its investment-related activities through a global correspondent network. It also had a network of 3,662ATMs (including those of Baltiyskiy Bank) in Russia.

As of 1 August 2017, Alfa-Bank was the largest private bank in Russia in terms of both corporate customer loans and accounts, and thesixth-largest banking group in terms of assets, as of 31 December 2016. Alfa-Bank was the third-largest bank in the country, in terms ofretail demand deposits, with a market share of 9.3% as of 1 July 2017 (including Baltiyskiy Bank). Alfa-Bank’s market shares among allcredit institutions in Russia were as follows:

3 29 November 2017 Alfa-Bank: Key Facts and Statistics - H1 June 2017

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Exhibit 5

Market shares of Alfa-Bank

(% Share) 30-June-17 31-Dec-16 31-Dec-15

Assets 3.1 2.9 2.8

Corporate loans 4.4 4.2 4.1

Corporate accounts and deposits 3.8 3.0 2.6

Retail Loans 2.2 2.1 2.2

Retail accounts and deposits 3.2 3.1 3.3

Notes: 1) “Corporate Loans” for the Russian banking sector excludes “Loans to credit institutions”.2) “Corporate Loans” for the bank has been calculated by deducting “Retail loans” from “Total gross loans and advances to customers”.3) “Retail accounts and deposits” for the bank includes current accounts.4) “Corporate accounts and deposits” for the bank has been calculated by deducting “Retail accounts and deposits” from “Total customer accounts”Source: Company reports (interim consolidated financial statements June 2017, first-half results presentation June 2017 and June 2016, consolidated financial statements Dec 2016, annual reportDec 2016 and Dec 2015), Company data, Moody’s Investors Service research, Bank of Russia

Ownership structureAlfa-Bank is a joint-stock company. As of 30 June 2017, the bank was wholly owned by ABH Financial Limited. ABH Financial Limitedis a wholly owned subsidiary of ABHH, which is based in Luxembourg. As shown in Exhibit 6, Alfa-Bank, through ABHH, is collectivelyowned by seven shareholders.

As of 20 November 2017, Alfa-Bank’s seven shareholders were as follows

Exhibit 6

Alfa-Bank*

Shareholder % Held

Mikhail Fridman 32.8632

German Khan 20.9659

Alexei Kuzmichev 16.3239

Petr Aven 12.4018

UniCredit S.p.A 9.9000

The Mark Foundation for Cancer Research 3.8736

Andrei Kosogov 3.6716

Total 100.0000

* Owned through ABHHSource: Company data

SubsidiariesAs of 30 June 2017, Alfa-Bank’s main subsidiaries were Amsterdam Trade Bank NV (79.15% owned and domiciled in the Netherlands)and Baltiyskiy Bank (wholly owned and domiciled in Russia) (acquired in December 2014).

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Company management

Exhibit 7

Alfa-BankExecutive Board Current Title ResponsibilitiesAndrei Sokolov Alfa-Bank: Chairman of the Executive Board Internal control department, compliance, business infrastructure

support and development, working bodies executive secretariat,administration and general services, property management,banking regulations department, department for Baselcommittee standards implementation, department forrelationship with government authorities, and legal supportdepartment

Maxim Pershin Alfa-Bank: Member of the Executive Board, Co-Head ofCorporate and Investment Banking

Corporate business of large and Moscow regional customers,supervising the bank’s payment operations, overdueindebtedness and special projects

Alexei Tchoukhlov Alfa-Bank: Member of the Executive Board, Deputy Chairmanof the Executive Board, Chief Financial Officer

Management of accounting and financial units, implementationof the bank’s long-term development strategy, representinginterests of the bank with government authorities, banks andpublic associations, including financial relationships with otherlegal and individual persons

Mikhail Grishin Alfa-Bank: Member of the Executive Board, Deputy Chairmanof the Executive Board, Head of Legal Department

Legal affairs

As of 20 Nov 2017

Exhibit 8

Alfa-BankBoard of Directors AffiliationPetr Smida Alfa-Bank: Chairman of the Board of Directors;

ABHH: Member of the Board of DirectorsOleg Sysuev Alfa-Bank: First Deputy Chairman of the Board of DirectorsPetr Aven Alfa-Bank: Member of the Board of Directors;

ABHH: Chairman of the Board of DirectorsAndrew Baxter Alfa-Bank: Member of the Board of DirectorsAndrei Kosogov Alfa-Bank: Member of the Board of Directors;

ABHH: Member of the Board of DirectorsAlexey Marey Alfa-Bank: Member of the Board of DirectorsMikhail Fridman Alfa-Bank: Member of the Board of Directors;

ABHH: Member of the Board of DirectorsRushan Khvesyuk Alfa-Bank: Member of the Board of Directors;

Alfa-Bank Ukraine: Chief Executive OfficerAndrey Elinson Alfa-Bank: Member of the Board of DirectorsOskar Hartmann Alfa-Bank: Member of the Board of Directors

As of 20 Nov 2017Source: Company data

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Exhibit 9

Corporate governance structure

Source: Company data

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Exhibit 10

Organisational Structure as of 30 June 2017(% of ownership is 100% unless otherwise provided)

* The Debt Issuing Arm consists of special purpose vehicles that are used to raise funds internationally. These entities do not have assets apart from the contractual rights associated withtheir respective debt obligations. ABH FINANCIAL LTD holds 100% of Countryisle Assets Limited that owns 100% of ALFA DEBT MARKET LTD** AO «ALFA-BANK» holds 2.6% of ABH FINANCIAL LTD.*** ALFA CAPITAL HOLDINGS (CYPRUS) LIMITED holds 0.1136% of AO «ALFA-BANKSource: Company report (first-half results presentation June 2017)

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Company historyJoint Stock Company “ALFA-BANK” was established in 1990.

In March 2001, the bank formed a wholly owned subsidiary by acquiring Amsterdam Trade Bank NV in the Netherlands, extending itstrade financing activities to the EU. Currently, Alfa-Bank owns 79.15% of Amsterdam Trade Bank.

In September 2010, the bank acquired a 100% stake in subsidiary JSC Bank Severnaya Kazna, which was based in the Urals region ofRussia. In June 2011, the subsidiary merged with Alfa-Bank, and no longer operates as a separate legal entity.

Alfa-Bank is wholly owned by ABH Financial Limited, which is consolidated in ABHH. ABHH is beneficially owned by sevenshareholders, including Mikhail Fridman, German Khan and Alexei Kuzmichev, who held respective stakes of 32.86%, 20.97% and16.32%, as of 20 October 2017.

In October 2014, Alfa-Bank acquired a stake of more than 88% in PJSC Baltiyskiy Bank. In July 2015, the bank increased itsshareholding to 99.9%. Currently, PJSC Baltiyskiy Bank is wholly owned by Alfa Bank.

Source: Company reports (interim consolidated financial statements June 2017 and June 2014, first half results presentation June 2017 and June 2015, consolidated financial statements Dec 2012,Dec 2011 and Dec 2010, annual report Dec 2009, Dec 2002 and Dec 2001), Company data, Moody’s Investors Service research

Peer group

» Sberbank

» Gazprombank

» Credit Bank of Moscow

» Bank VTB, JSC

» AO RAIFFEISENBANK

Related websites and information sourcesFor additional information, please see:

The company’s website

» Alfa-Bank

MOODY’S has provided links or references to third party World Wide Websites or URLs (“Links or References”) solely for your convenience in locating related information and services. Thewebsites reached through these Links or References have not necessarily been reviewed by MOODY’S, and are maintained by a third party over which MOODY’S exercises no control. Accordingly,MOODY’S expressly disclaims any responsibility or liability for the content, the accuracy of the information, and/or quality of products or services provided by or advertised on any third party website accessed via a Link or Reference. Moreover, a Link or Reference does not imply an endorsement of any third party, any website, or the products or services provided by any third party.

Moody’s related researchIssuer Page on Moodys.com

» Alfa-Bank

Credit Opinion

» Alfa-Bank

Industry Outlook

» Improving capital adequacy supports stable outlook, October 2017

8 29 November 2017 Alfa-Bank: Key Facts and Statistics - H1 June 2017

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Issuer In-Depth

» Alfa-Bank: Growing customer numbers and GDP recovery paves way for credit expansion, March 2017

Rating Methodology

» Banks, September 2017

Rating Action

» Moody's upgrades Alfa-Bank's BCA to ba2; affirms deposit and senior unsecured ratings at Ba2, May 2017

» Moody's assigns B2(hyb) to Alfa-Bank's perpetual loan participation notes, August 2017

To access any of these reports, click on the entry above. Note that these references are current as of the date of publication of this report and that more recent reports may be available on theissuer’s page . All research may not be available to all clients.

9 29 November 2017 Alfa-Bank: Key Facts and Statistics - H1 June 2017

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REPORT NUMBER 1096917

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Contacts

Alexandra Yalozina +7.495.228.6109Associate Analystalexandra.yalozina@moodys.com

CLIENT SERVICES

Americas 1-212-553-1653

Asia Pacific 852-3551-3077

Japan 81-3-5408-4100

EMEA 44-20-7772-5454

11 29 November 2017 Alfa-Bank: Key Facts and Statistics - H1 June 2017