Vtb · RUS:VTBR

Vtb — 9M 2007 Earnings Presentation

19 slides from Vtb's earnings presentation, Dec 10, 2007

1. Slide 1: 9 Months 2007 Preliminary IFRS Results

   Preliminary unaudited figures 9 Months 2007 Preliminary IFRS Results Nikolai Tsekhomsky Chief Financial Officer, Member of the Board 10 December 2007 1 © VTB 2007

2. Slide 2: Forward-looking statements disclaimer

   Preliminary unaudited figures Some of the information in this presentation may contain projections or other forward-looking statements regarding future events or the future financial performance of JSC VTB ("VTB") and its subsidiaries (together with VTB, the “Group"). Such forward-looking statements

3. Slide 3: Robust growth: VTB outperforms the market

   Robust growth: VTB outperforms the market Preliminary unaudited figures Total assets ƒ Market-beating growth achieved across key + 41.7% 74,255 performance indicators: 66,223 ƒ Total assets up 12.1% in 3Q 2007 52,403 ƒ Total loans grew by 25.9% in 3Q 2007 + 12.1% ƒ Corporate loan growth accelerated

4. Slide 4: Improving profitability - reducing credit risk

   Improving profitability - reducing credit risk Preliminary unaudited figures Net interest margin (1) ƒ Despite volatile markets and liquidity concerns net 4.6% +0.3pp interest margin improved to 4.9% in 3Q 2007 4.4% ƒ Net interest margin grew to 4.4% in 9M 2007 from 4.1% in 1H 2007 4.1% ƒ Quality of

5. Slide 5: Net profit growth with quality improvement

   Net profit growth with quality improvement Preliminary unaudited figures Net profit Core income +44.2% 2,089 +28.8% 1,449 357 (2) + 35.2% 264 1,051 1,732 + 46.2% 137 1,185 816 Net interest income before provisions 172 9M2006 9M2007 Net fee and commission income Return on average equity + 41.9% 19.7%

6. Slide 6: Funding: increased focus on customer deposits

   Funding: increased focus on customer deposits Preliminary unaudited figures Total liabilities Breakdown of liabilities (as % of total) Customer 49.6% Deposits 44.0% + 28.5% Wholesale 32.6% 58,363 Funding 37.9% 51,007 10,429 17.9% Due to + 51.8% 18.1% 6,871 Banks&Others 45,411 8,2217,895 - 16.4% 2006

7. Slide 7: Strategic initiatives on track

   Strategic initiatives on track Preliminary unaudited figures Deposit gathering effort achieves critical Branch Branch network network mass with opening of 87 new branches of VTB24 Organic development of franchise centered Investment Investment banking banking around client facilitation in Moscow and

8. Slide 8: Outlook FY 2007

   Outlook FY 2007 Preliminary unaudited figures Total assets: ~ 55-60% Total gross loans: ~ 75-80% Net profit: ~ 10-15% Market beating growth Continued reduction in credit risk Increased loan quality A strong, stable platform 8 © VTB 2007

9. Slide 9: Appendix

   Appendix Preliminary unaudited figures 9 © VTB 2007

10. Slide 10: Income statement

    Income statement Preliminary unaudited figures US$ million Q32006 Q3 2007 % y-o-y 9M 2006 9M 2007 % y-o-y Interest income 942 1,408 49.5 2,580 3,643 41.2 Interest expense (551) (680) 23.4 (1,395) (1,911) 37.0 Net interest income 391 728 86.2 1,185 1,732 46.2 Provision charge for loan impairment (188

11. Slide 11: Assets

    Assets Preliminary unaudited figures US$ million FY2006 1H 2007 9M2007 % YTD % q-o-q Cash and short-term funds 3,581 3,441 3,297 (7.9) (4.2) Mandatory cash balances with central banks 648 850 1,133 74.8 33.3 Due from other banks 6,813 8,453 6,452 (5.3) (23.7) Loans and advances to customers 30,235 3

12. Slide 12: Liabilities and equity

    Liabilities and equity Preliminary unaudited figures US$ million FY2006 1H 2007 9M2007 % YTD % q-o-q Liabilities Due to Other Banks 7,587 5,753 9,245 21.9 60.7 Customer Deposits 19,988 25,083 28,923 44.7 15.3 Other Borrowed Funds 4,468 4,679 5,714 27.9 22.1 Debt Securities Issued 11,565 13,189 12,13

13. Slide 13: Key financial ratios

    Key financial ratios Preliminary unaudited figures Profitability & Efficiency 2006 2Q 2007 6M 2007 3Q 2007 9M 2007 Net Interest Spread (1) 4.5% 3.9% 3.9% 4.4% 4.1% Net Interest Margin 4.6% 4.1% 4.1% 4.9% 4.4% Cost-to-Income Ratio 50.8% 56.8% 56.4% 45.2% 51.6% Return on Average Shareholders’ Equity (

14. Slide 14: Corporate loan portfolio and deposits

    Corporate loan portfolio and deposits Preliminary unaudited figures Corporate Loan Portfolio (gross) Corporate Deposits + 47.0% + 52.4% 40,728 19,293 32,705 16,207 7,621 + 10.1% + 24.5% 12,662 6,920 27,702 + 8.6% 6,372 11,672 + 18.1% + 25.7% US$ million US$ million 9,287 + 47.6% 6,290 2006 1H2007 9M

15. Slide 15: Retail loan portfolio and deposits

    Retail loan portfolio and deposits Preliminary unaudited figures Retail Lending Portfolio (gross) Retail Customer Deposits + 121.8% + 31.4% 5,617 4,106 9,630 8,876 7,326 +15.7% 2,511 + 36.8% 2,171 2,533 + 21.2% 1,777 + 6.2% US$ million US$ million + 62.1% 7,119 + 20.8% 6,705 5,549 2006 1H2007 9M2007

16. Slide 16: Net interest income breakdown

    Net interest income breakdown Preliminary unaudited figures Interest income Net interest income + 41.2% + 46.2% 3,643 1,732 355 2,580 406 1,185 234 326 US$ million US$ million 2,020 2,882 9M2006 9M2007 9M2006 9M2007 Interest expense + 37.0% 1,911 547 1,395 487 548 US$ million 363 816 545 9M2006 9M20

17. Slide 17: Securities breakdown

    Securities breakdown Preliminary unaudited figures Breakdown by Type of Securities 14,055 13,985 33% 36% 67% 64% US$ million 1H2007 9M2007 Equity securities ( incl. balances on derivatives, 9M2007 – approx. US$600 mln) Debt securities 17 © VTB 2007

18. Slide 18: Funding transactions of VTB Group in 2H 2007

    Funding transactions of VTB Group in 2H 2007 Preliminary unaudited figures ƒ 3 Quarter 2007 ƒJuly 2007: Roll-over of VTB Series 6 Domestic RUR Bond – 15 000 mln RUR ƒAugust-September 2007: Forward Rate Bias 10-year Loans to VTB – 1 000 mln USD ƒ 4 Quarter 2007 ƒOctober-November 2007: Bilateral loans

19. Slide 19: Investor Relations

    Preliminary unaudited figures Investor Relations Nataly Loginova Elena Ershova Irina Mokeeva Tel: +7 (495) 739-77-99 e-mail: [email protected] 19 © VTB 2007

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