1

PresentationAugust 2010

Overview

2

Investment grade credit ratings that are

among highest for Russian banks

Diversified business model spanning corporate, retail,

private banking and asset management

Improving outlook for Russian economy and

banking sector with long-term growth story intact

Extensive distribution network in Moscow and

key Russian regions

Strong risk profile and balance sheet with relatively

low NPLs, conservative provisioning, high collateral and high capital adequacy

Track record of strong support from the City of

Moscow – the Bank’s largest shareholder and

Russia’s wealthiest municipality

Solid earnings generation with

positive profitability sustained even through crisis

Leading and progressively

strengthening Russian banking franchise: #5 by

net assets and loan portfolio, #3 by retail

deposits*

3

Key Investment Highlights

* Source: Kommersant Dengi Magazine(№11) figures as of January 1, 2010

4* Source: Bank of Moscow IFRS Consolidated Financial Statements as at respective date** Source: Kommersant Dengi Magazine(№11) figures as of January 1, 2010

Top-5 Russian bank by net assets, capital and loan portfolio**

Top-3 deposit taker**

Controlled and historically supported by the City of Moscow

Wide range of banking services, including corporate and retail lending and deposit services, private banking, investment banking and asset management

The Bank serves 9.7 mn retail and 105,000 corporate and public sector customers

Ratings Moody’s S&P FitchBank of Moscow

Baa1 (Negative) n/a BBB-

(Stable)Russia Sovereign

Baa1 (Stable)

BBB (Stable)

BBB (Stable)

Key Performance Indicators*(RUB bn, %) FY 2007 FY 2008 FY 2009

Assets 528,086 801,385 825,144

Equity 48,595 67,650 86,596

Deposits 350,646 406,541 428,029

Net Loans 351,622 516,564 534,490

Tier I CAR 10.4% 9.5% 12.8%

Total CAR 14.8% 13.9% 18.9%

Net Profit 10,046 6,978 717

ROE (%) 22.6% 11.8% 0.9%

ROA (%) 2.0% 1.0% 0.1%

Bank of Moscow at a Glance

Moscow-based with wide geographical reach 134 offices and sub-offices and 474 desks at postal offices in Moscow and Moscow Region* The Group operates 68 regional branches which supervise a further 69 full-service sub-branches

and 113 sub-branches providing retail services and 8 cash offices located in the territory of Russia*

With total 394 outlets throughout the country – presence in 60 regions* Foreign subsidiaries in Belarus, Latvia, Estonia, Ukraine, Serbia and Representative office in

FrankfurtUnited States

of America

Estonia Petrozavodsk

Arkhangelsk

Kaliningrad

Vyborg

St. Petersburg

Vologda

Kirov

Yaroslavl

Tula

Kursk

Rostov-on-Don

KrasnodarSochi

Vladikavkaz Astrakhan

Orsk

Orenburg

Samara

Saratov

Voronezh

Nizhny NovgorodCheboksary Berezniaki

Perm

Izhevsk

Yekaterinburg

Tyumen

Moscow

Omsk Tomsk

KemerovoNovosobirsk

Novokuznetsk

Kransnoyarsk

IrkutskUlan-Ude

Vladisvostok

Khabarovsk

Yuzhno—Sakhalinsk

Petropavlovsk—Kamchatsky

“Moscow-Minsk” (Minsk)

“Zarechye”(Kazan)

“Latvian Businessbank”(Riga)

Poland

Byelorussia

Latvia

Finland

Norway

Ukraine

Turkey

Iran

Kazahkstan

China

Japan

United Statesof America

Russian Federation

Regional Branches

Subsidiary and Affiliate Banks

“BM Bank” (Kiev)

Barnaul

Maykop

Belgorod

Stavropol

“Eesti Krediidipank”(Tallin)

Orel

Volgograd

UfaYakutsk

Velikiy Novgorod

LipetskKazan

SyktyvkarKovrov

Chelyabinsk

* Source: Bank of Moscow as of 1 May, 2010

5

Branch Network

6

Macroeconomic and Industry Environment

GDP Growth, Fiscal and Monetary Position

1 76

5

1 58

7

1 22

9

1 66

0

765 9

89 1 29

44,8%

4,0%

(7,9)%

5,6%8,1%7,7%6,4%

0200400600800

1 0001 2001 4001 6001 8002 000

2005 2006 2007 2008 2009 2010E 2011E(10,0)%(8,0)%(6,0)%(4,0)%(2,0)%0,0%2,0%4,0%6,0%8,0%10,0%

Nominal GDP (US$ bn) Real GDP Growth (%)

463,5455,7 447,8

168,4289,0

80,261,9

78,572,7

65,454,4

97,7

0

100

200

300

400

500

600

2005 2006 2007 2008 2009 2010E 2011E0

20

40

60

80

100

Russia's Foreign Reserves, end of period, US$ bnOil price (Brent, US$/b)

Economy and Growth Real GDP Growth vs. Peer Countries

Oil Price and Foreign Reserve Monetary Indicators

Source: CBR historical data for Foreign Reserve, Economist Intelligence Unit, June 18, 2010 for other indicators

7

29,029,5

30,229,428,826,3 24,5

7,0% 7,0%8,8%

13,0%

10,0%

11,0%12,0%

6,5%6,4%

8,8%

13,3%11,9%

10,9%9,0%

0

5

10

15

20

25

30

35

2005 2006 2007 2008 2009 2010E 2011E0,0%

2,0%

4,0%

6,0%

8,0%

10,0%

12,0%

14,0%

US$/RUB Exchange Rate, end of periodCentral Bank Refinancing Rate, end of periodConsumer Price I nflation (%),end of period

3,3%

0,8%2,8%

8,7%

(7,9)%

(4,9)%

(1,8)%

6,8%

(2,4)%(4,9)% (5,2)%

1,2%

7,8%9,9%

6,3%4,8%

(12,0)%

(8,0)%

(4,0)%

0,0%

4,0%

8,0%

12,0%

Russia China India Brazil Ger-many

USA UK Japan

2009 2010E

Business Overview

8

Top Russian Banks by Capital (RUB, bn)

Bank of Moscow’s Market Position

Source: Kommersant Dengi Magazine(№11) figures as of January 1, 2010

863

Top Russian Banks by Total Assets (RUB, bn)7 158

9

3 674

Top Russian Banks by Retail Deposits (RUB, bn)

Top Russian Banks by Loan Portfolio (RUB, bn)

5 366

Business Overview

Bank of Moscow is among the highest rated in the Russian banking sector

A2

A3

Baa1

Baa2

Baa3

Ba1

Ba3

A

A-

BBB+

BBB

BBB-

BB+

BB

BB-

B+

Ba2

10 Source: Senior Unsecured Eurobond Ratings

Business Overview

Business Overview

The City of Moscow has been the largest shareholder of the Bank since it was established in 1995

Combined stake of the City of Moscow in the Bank’s share capital is 63.59%, including 46.48% stake of the Property Department of the City of Moscow and 17.11% stake of Stolichnaya Strakhovaya Gruppa, which in turn is controlled by the City of Moscow and the Bank of Moscow Group

The City has participated in all of the Bank’s 14 equity issues

Mr. Andrey Borodin, Chairman of the Management Board, and Mr. Lev Alaluev, Deputy Chairman of the Board of Directors, indirectly jointly control 20.32% of the Bank

Controlled by

the City of

Moscow

11

Shareholder Structure

Property Department of

the City Moscow46.48%

OJSC Stolichnaya Strakhovaya Gruppa

17.11%

Beneficial Ownership of Mr. Borodin and Mr.

Alaluev20.32%

Goldman Sachs International 3.88%

Source: Bank of Moscow

LLC “GSM” 3.25%

OJSC “GSM Investments”

3.16%

Credit Suisse International 2.77%

Others 3.03%

90,9

66,8

121,6

40,9

13,9%

18,9%

14,8%

13.3%

10,2% 10,4% 9,5%

12,8%

0

20

40

60

80

100

120

31-Dec-06 31-Dec-07 31-Dec-08 31-Dec-095%

10%

15%

20%

Total capital Total capital ratio Tier 1 ratio

BoM has a strong capital position As of December 31, 2009 the Bank’s total

capital ratio (Basel 1 Accord) was 18.9%, and Tier 1 ratio was 12.8%*

The Bank has been proactively increasing its capitalisation:

In July 2009 BoM raised RUB 20 bn in its 13th additional share issue

On July 26 2010 14th issue was successfully registered with the CBR and boosted the capital of the Bank by RUB 21.7 bn.

On October 15, 2009 Vnesheconombank (VEB) extended a 10-year subordinated loan to the Bank for RUB 11.1 bn

Capital Base* (RUB bn, %)Capital Adequacy

Capital Adequacy

12

min 8% (Basel 1 Accord)

* Source: Bank of Moscow, IFRS Consolidated Financial Statements as of December 31, 2009

Business Overview

Main Business Lines

13

Corporate lending Syndicated loans Trade finance and guarantees Foreign trade and exchange operations Debt Capital Markets (Local and International) Payment and account services Securities trading Precious metals Depositary services Underwriting Research

Corporate and Investment Banking

Business Overview

Private asset management services Fund management services Mutual and pension funds Private Banking

Current and deposit accounts Loan services Mortgages Debit and credit cards Money transfers Internet and telephone banking Internet trading (“Mos-broker”)

Retail Banking

Asset Management & Private Banking

FOCUS ON MAINTAINING LEADING POSITION AS TOP 5 RUSSIAN BANK AND IMPROVING EFFICIENCY, PROFITABILITY AND CURRENT FRANCHISE AS OPPOSED TO AGGRESSIVE GROWTH

14

Business and Operating Strategy

Bus

ines

ses

Focus on acquiring new customers and developing relations with existing ones Continue servicing all client segments, yet pay particular attention to strengthening presence in SME segment Build customer relationships and increase cross-selling, including investment banking products

Corporate & Investment Banking

Retail Banking Leverage strong retail brand and branch network Continue developing lending and deposits products as a key focus area – grow retail deposits market share

Target high net worth individuals, while seeking to provide product diversity and service quality in line with best international practices

Private Banking & Asset Management

Business Overview

Emphasis on raising effectiveness of risk management Control over the quality of the loan and securities portfolio Credit risk diversification and strengthening of underwriting standards

Prudent Risk Management Policy

Ope

ratio

nal

Business Efficiency andMarket Positions

Increase business efficiency Maintain leading positions in the national banking industry Tighten control over costs and expenses

Branch Network

Retain and strengthen positions in the regions Use the regional network to diversify client and risk concentration Short-term focus on efficiency improvement of existing network, over medium-term potentially resume network organic

growth

173,0224,0

255,3

2006 2007 2008 2009Other Legal EntitiesState-owned OrganisationsFederal and Regional Budgets and Funds

Over 105,000 corporate and public sector customers as of December 31, 2009*

Focus on strategically important sectors of Russian economy

Corporate banking dominates the asset side of the balance sheet

Involvement in financing of the key projects of the City of Moscow

SME – strategically important sector

Increasingly active in trade financing

Developing of investment banking services, including underwriting, debt issuance, research

Corporate and Investment Banking

15* Source: Bank of Moscow ** Source: Bank of Moscow IFRS Consolidated Financial Statements as of December 31, 2009

Loan Portfolio to Legal Entities**

Business Overview

213%183% 197% 199%

2006 2007 2008 2009Gross Loans, RUB bn Collateral/Gross Loans, %Provision/ Gross Loans, %

222.8281.5

416.4 489.5

Deposits and Accounts of Legal Entities** (RUB bn)

46.6%7.7%45.7%

44.0%9.1%

46.9%

36.9%

10.5%

52.6%

26.5%

17.9%

55.6%

250,6

0.9% 0.8%1.5%

6.1%

68,599,1

121,4144,118,0

27,529,8

33,3

86,5

126,7151,2

177,4

2006 2007 2008 2009

Term Deposits Current Accounts

Business Overview

No. 3 retail deposit taker in Russia* RUB 177.5 bn of term deposits and current accounts as of December

31, 2009** Approved by CBR to participate in the Deposit Insurance System,

authorized bank of the Deposit Insurance Agency to manage retail accounts of the banks with withdrawn licenses

Over 9.7 mn retail customers as of December 31, 2009*** 14.1 mn plastic cards as of July 1, 2010 RUB 88.3 bn – retail loan portfolio (gross) as of December 31, 2009** Wide range of retail services, including Muscovite Social Cards - a

combination of a bank debit card, an ID, an insurance identification card and public transportation travel card for Muscovites

As at July 1 2010, BoM had 1,842 ATMs in operation Advanced Internet and Telephone banking

Retail Banking

16* Source: Kommersant Dengi (№11) figures as of January 1, 2010**Source: Bank of Moscow IFRS Consolidated Financial Statements as of December 31, 2009*** Source: Bank of Moscow

Retail Loan Portfolio** (RUB bn)

Retail Loan Portfolio Breakdown** (2009)

Overview

Retail Deposits and Accounts** (RUB bn)

Consumer Loans48,9%

Mortgages31,1%

Credit Cards 1,6%Scoring Loans 6,6% Car Loans 11,8%

88,3

113,174,6

36,6

111%90%

108%89%

2006 2007 2008 2009Gross Loans, RUB bn Collateral/Gross Loans, %Provision/Gross Loans, %

3.8%2.9% 5.7%

15.4%

Business Overview

Loan portfolio is diversified by industries and geographically, which is in line with the credit risk management approach

More than a half of the Group’s loan book is concentrated beyond the borders of Moscow and Moscow region*

Related-party lending, which includes lending to municipal entities of the City of Moscow, accounted for 2.5% of the Group's gross loan portfolio as at 31 December 2009

Loan portfolio is dominated by loans in local currency. Loans in foreign currencies account for 33,3% of total loans to customers*

Bank of Moscow’s Loan Portfolio

17

Loan Portfolio Breakdown by Currency* (2009)

* Source: Bank of Moscow as of December 31, 2009** Source: Bank of Moscow, IFRS Consolidated Financial Statements as of December 31, 2009

Overview Loan Portfolio Breakdown by Industry Sectors**

RUB 66,7%

USD 25,7%

EUR 3,7% Other 3,9%

Corporate Loans 88%

Construction 13,9%

Others 5,2%

Financial & OtherServices 21,8%

Manufacturing12,5%

Trade 10,9%

Individuals 15,3% Transport & Comms 4%

Fuel& Energy 6,2%

State Agencies 3,2%

Metallurgy 3,8%

Food Industry 2,5%

Overdue Loans and Allowance for Loans Losses Client Concentration: Twenty Largest Borrowers (RUB bn)

Bank of Moscow’s Loan Portfolio (Cont’d)

18

As of December 31, 2009 the provisions totalled RUB 43.3 bn, a 3.4 times growth from the beginning of 2009

As of December 31, 2009 LLPs comprised 7.5% of the loan portfolio compared to 2.4% as of December 31, 2008

NPLs accounted for 3.9% of the Group’s gross loan portfolio The NPLs are 1.9 times covered by provisions

190,3%187,1%186,8%

0,7%

1,3%

3,9%

0%

100%

200%

300%

400%

500%

2007 2008 20090%

1%

2%

3%

4%

5%

LLP/NPL NPL/Gross loans

Concentration of top 20 borrowers in the total loan portfolio increased to 27.5% due to slowdown of the economy

Net loan portfolio 2.0 times over-collateralised as at 31 December 2009

Source: Bank of Moscow, IFRS Consolidated Financial Statements as of December 31, 2009

Business Overview

529,5 577.8

259,4356,1

990,1

621,2

446,2

1 074.2

24,9%

27,5%

20,2% 21,8%

0

200

400

600

800

1 000

1 200

1 400

2006 2007 2008 200920%

22%

24%

26%

28%

30%

Total LoansCollateralTOP 20 Client Concentration

Conservative Credit and Market Risk Policies in Place

19

Credit Risk

Limited open foreign currency position, stop-loss, country and borrower limits Centralised control over exchange rates in currency operations In accordance with CBR regulations, currency risk exposure cannot exceed 20% of the Group’s equity

in all currencies Currency position is controlled by the CBR on a daily basis

Currency Risk

Managed with the aid of scenario analysis, simulative, optimising and predictive modelling Strict CBR controls on instant (N2) and current (N3) liquidity standards Monitored on a daily basis

Liquidity Risk

Measured via gap and interest rate sensitivity models Also employ stress testing and scenario analysis techniques

Interest Rate Risk

Based on recommendations and requirements of CBR, Basel Committee and auditors Single borrower/economic group limits Product type/geographic/industry concentration limits Ongoing monitoring of borrower’s conditions and collateral Centralisation of underwriting standards to address the crisis

Vertically integrated risk management system implemented throughout the Bank, including regional branches, with the CRO reporting directly to the Bank’s CEO and the Management Board

Credit Committee, Small Credit Committee and Mortgage Committee are authorised to make independent lending decisions

Centralized decision making on issuance of retail loan products

Business Overview

20

IssuedMay-2005

US$300mn

Due 2010Issued

Mar-2008

CHF 250mn

Due 2011Issued

May-2006

US$500mnDue 2013

IssuedMar-2007

US$105mn

Due 2010Issued

Nov-2007

US$600mn

Due 2010Issued

Jan-2009

US$30mn&€105mn

Due 2011Issued

Dec-2009

US$350mn

Due 2011

IssuedNov-2005

US$300mn

Due 2015Issued

May-2007

US$400mn

Due 2017

IssuedAug-2008

RUB 10,000mn

Due 2011Issued

Feb-2008

RUB 10,000mn

Due 2013

Within 5 years (2006-2010) the Bank of Moscow raised equivalent of USD 4.25bn and RUB 25bn from the international and local capital markets

Repaid

International and Local Capital Markets Funding History

Business Overview

IssuedNov-2006

US$500mnDue 2008

Eurobonds

LT2 Debt (Subordinated Eurobonds)

Local Bonds

Syndicated Loans

Issued May-2006

US$400mnDue 2009

Issued May-2008

US$220mnDue 2009

Issued Sep-2004

US$250mnDue 2009

Issued Nov-2006

RUB 5,000mnDue 2009

IssuedMar-2010

US$750mn

Due 2015

Financial Overview

21

Financial Overview

Strong and relatively stable deposit base has always been one of the key advantages of the Bank

As of December 31, 2009, customers accounts comprised 58.0% of the Bank’s liabilities

Customer accounts increased 5.3% for 12 months of 2009

Reliance on wholesale financing is currently low Access to variety of liquidity facilities

Assets Assets (RUB bn)

Overview of Assets and Liabilities

22Source: Bank of Moscow, IFRS Consolidated Financial Statements as of December 31, 2009.

215260

351

407 42856

22638 70

92 78

51

3

2

721

0

200

400

600

800

2006 2007 2008 2009Due to other banks Due to customersDebt securities issued Other

Liabilities Liabilities (RUB bn)

Assets well-balanced in terms of risk-return profile

Portfolio of securities mostly issued by federal and municipal government agencies and leading Russian corporates in accordance with conservative risk policy

Fixed-income instruments dominate trading securities portfolio

Over-collateralized loans to customers portfolio

76

517 535256 352

6444

13351

35 119

37

66

51

0

200

400

600

800

2006 2007 2008 2009

350480

734 739

343473

686 735

Loans to customers Cash and equivalentsMandatory cash balances with CBR Trading securities

428,0

259,5

350,6

406,5

2006 2007 2008 2009

Financial Overview

Continued diversification of deposit base state funding available through: CBR facilities (unsecured and secured loans, repo transactions), Ministry of Finance deposits and funds of state-owned corporations

The Bank is authorised to tender for budget funds of the City of Moscow along with several other banks

Growth in Deposits* (RUB bn) Composition of Client Deposit Portfolio

Deposit Base

23

By Deposit Type*

By Customer Type*

* Source: Bank of Moscow, IFRS Consolidated Financial Statements as of December 31, 2009.

Current / Demand Accounts

34.5%

Term Deposits65.5%

Individuals41.5%

Federal budgets + regional funds 15.5%

State-ownedorganisations

10.5%

Other commercial+ legal entities

32.5%

Financial Overview

30,424,918,3

46,3

51,2%

46,1%

49,3%

30,9%

05

101520253035404550

2006 2007 2008 200930%

35%

40%

45%

50%

55%

Income Cost/Income

1,0% 0,1%1,8% 2,0%

4,6%

5,2%5,0%5,3% 11,8%

20,4%22,6%

0,9%0%

1%

2%

3%

4%

5%

6%

2006 2007 2008 20090%

5%

10%

15%

20%

25%

Return on Assets Net Interest MarginReturn on Equity

Operating Income (RUB bn)

24

Cost to Income Ratio* (RUB bn, %) Selected Profitability Ratios*

Source: Bank of Moscow IFRS Consolidated Financial Statements as of December 31, 2009

Profit and Loss (RUB bn)

14,1 19,128,4

1,6

(3,7)

3,14,3

5,8

31,31,1

9,55,5

2006 2007 2008 2009Net commission incomeNet income from trading operations and other incomeNet interest income