Press release

7 March 2018

S&P Global Ratings raised its long- and short-term issuer credit ratings on VTB Bank (PJSC) to 'BBB-/A-3' with stable outlook

The agency commended VTB's efforts to improve the funding structure by substituting expensive wholesale funding with customer funds, increase diversification of its business profile through increasing its retail banking penetration, and improve its operational efficiency through consolidation within the group structure and leaner management, as well as decreased volatility of credit costs.

Simultaneously S&P Global Ratings raised long- and short-term issuer credit rating on VTB Capital PLC to 'BBB-/A-3', long-term issuer credit rating on VTB Insurance ltd. to 'BBB-', with stable outlooks.

Full list of VTB Bank's credit ratings is available at https://www.vtb.com/ir/ratings/