FOR SHAREHOLDERS AND INVESTORS
For shareholders and investors

The Bank adapted to the changing macroeconomic environment by improving its business approaches, in particular by shifting the focus towards greater openness to its partners, shareholders and customers. The Bank maintains an open and transparent dialogue with its existing and potential shareholders and investors, given the high degree of responsibility it faces.

The Bank mainly contacts institutional shareholders and investors through the Chairman of the Management Board, Senior Vice President, Corporate Secretary and IR Division, who are open to discuss with investors any questions they may have.

Information is provided to shareholders and investors at annual shareholders' meetings, in annual reports and regular consolidated financial statements with related presentations and webcasts. During the year, the Bank met more than 100 institutional investors at investor conferences and roadshows all over the world. During the year, the Bank participated in investor meetings in the UK, Continental Europe, the USA, Singapore, China and Hong Kong.
Investor meetings in 2018 (geographical distribution)
The Bank adapted to the changing macroeconomic environment by improving its business approaches, in particular by shifting the focus towards greater openness to its partners, shareholders and customers. The Bank maintains an open and transparent dialogue with its existing and potential shareholders and investors, given the high degree of responsibility it faces.

The Bank mainly contacts institutional shareholders and investors through the Chairman of the Management Board, Senior Vice President, Corporate Secretary and IR Division, who are open to discuss with investors any questions they may have.

Information is provided to shareholders and investors at annual shareholders' meetings, in annual reports and regular consolidated financial statements with related presentations and webcasts. During the year, the Bank met more than 100 institutional investors at investor conferences and roadshows all over the world. During the year, the Bank participated in investor meetings in the UK, Continental Europe, the USA, Singapore, China and Hong Kong.
USA
31%
46%
London
Hong Kong
6%
Singapore
Moscow
Continental Europe
9%
5%
3%
1%
China
The Supervisory Board is regularly updated on shareholders and investors' position regarding the Bank by its management and IR team. All feedback from analysts and the Bank's consultants is also given to the Supervisory Board.

The Bank's official website, mkb.ru, allows investors to see the Bank's results, press releases, investor presentations, information on its corporate governance, corporate and social responsibility, management and other information of importance to them.

More than 150 investor meetings, 3 roadshows and 10 conferences were held in 2018.
1Q 2018

01–06 February

26–28 February

29 March

2Q 2018

10–11 April

18 April

15 May

16–17 May

22–23 May

23 May

24 May

24 May

30 May

30 May – 01 June

14 June

3Q 2018

20 August

03–06 September

25–27 September

4Q 2018

10–12 October

23 October

08–09 November

19–22 November

22 November

Shareholder and investor calendar for 2018
Investor meetings in Zurich, London, New York and Boston in the course of offering senior Eurobonds issued via CBOM Finance p.l.c.

J.P. Morgan 2018 Global Emerging Markets Corporate Conference

Disclosure of 2017 IFRS results



Moscow Exchange Forum 2018 and Renaissance Capital's 22nd Annual Russia Investor Conference in Moscow

Autonomous New CEE Conference in London

Moody's Emerging Markets Summit, London

Investor meetings in London and New York (NDR)

Sberbank CIB "Russia: The Inside Track" One-on-One Conference in Moscow

Record date for participation in the Annual General Shareholders' Meeting convened on 14 June

Access to materials in preparation for the Annual General Shareholders' Meeting convened on 14 June

Notice of the Annual General Shareholders' Meeting convened on 14 June

Disclosure of 1Q IFRS results

ВofAML Annual Emerging Markets Corporate Credit Conference, Miami, USA

Annual General Shareholders' Meeting



Disclosure of 1HY IFRS results

HSBC GEMs Investor Forum, London, UK

J.P. Morgan Credit and Equity Emerging Markets Conference 2018, London



Investor meetings in Hong Kong and Singapore (NDR)

GEM One-on-One Conference (UBS), New York

Moscow Exchange Forum: London Session

Moscow Exchange Forum: China Session

Disclosure of 9M IFRS results
Event
Date
1Q 2018

01–06 February

26–28 February

29 March
3Q 2018

20 August

03–06 September

25–27 September


4Q 2018

10–12 October

23 October

08–09 November

19–22 November

22 November

2Q 2018

10–11 April


18 April

15 May

16–17 May

22–23 May


23 May


24 May


24 May


30 May

30 May – 01 June


14 June
1Q 2018


01–06 February





26–28 February



29 March


2Q 2018



10–11 April



18 April


15 May


16–17 May



22–23 May



23 May




24 May





24 May


30 May


30 May – 01 June


14 June


3Q 2018


20 August


03–06 September



25–27 September


4Q 2018


10–12 October


23 October


08–09 November


19–22 November


22 November

2Q 2018


10–11 April


18 April

15 May

16–17 May

22–23 May


23 May


24 May


24 May


30 May

30 May – 01 June


14 June
Shares

The Bank's shares are on the first-level list of Moscow Exchange.
Instrument type

Ordinary share
Short name

CBM ao
Ticker

CBOM
ISIN

RU000A0JUG31
Instrument type

Short name

Ticker

ISIN
Ordinary share

CBM ao

CBOM

RU000A0JUG31
The Bank's initial public offering supported by institutional and private investors took place in June 2015. Selling at RUB 3.62 roubles per share, it aggregated RUB 13.2 bln.

In December 2015, the Bank made a secondary public offering on Moscow Exchange, raising RUB 16.5 bln and achieving a market capitalisation of RUB 87.6 bln.

In October 2017, the Bank made another secondary public offering on Moscow Exchange, raising RUB 14.4 bln and achieving a market capitalisation of RUB 122.1 bln.
On 16 June 2016, Moscow Exchange included CREDIT BANK OF MOSCOW's shares (CBOM) in its MICEX (now: MOEX Russia) and RTS indices as it revamped their reference bases. As at 31 December 2018, MOEX Russia and RTS indices covered the top 42 liquid shares of the largest Russian companies from key sectors of the economy. These indices are the main indices of Moscow Exchange for calculating issuers' capitalisation. The Bank's shares also made their way to the broad market shares index and the financial sector index. The former covers shares with at least a 5% free-float.
The Bank's initial public offering supported by institutional and private investors took place in June 2015. Selling at RUB 3.62 roubles per share, it aggregated RUB 13.2 bln.

In December 2015, the Bank made a secondary public offering on Moscow Exchange, raising RUB 16.5 bln and achieving a market capitalisation of RUB 87.6 bln.

In October 2017, the Bank made another secondary public offering on Moscow Exchange, raising RUB 14.4 bln and achieving a market capitalisation of RUB 122.1 bln.

On 16 June 2016, Moscow Exchange included CREDIT BANK OF MOSCOW's shares (CBOM) in its MICEX (now: MOEX Russia) and RTS indices as it revamped their reference bases. As at 31 December 2018, MOEX Russia and RTS indices covered the top 42 liquid shares of the largest Russian companies from key sectors of the economy. These indices are the main indices of Moscow Exchange for calculating issuers' capitalisation. The Bank's shares also made their way to the broad market shares index and the financial sector index. The former covers shares with at least a 5% free-float.
On 1 June 2018, CREDIT BANK OF MOSCOW's shares were also included in MSCI EMERGING MARKETS SMALL CAP INDEX. It covers
1,586 shares of companies in 24 countries and approximately 14% of the free float-adjusted market capitalisation in each country.

The Bank's share price in 2018, RUB
130%
120%
110%
100%
90%
80%
70%
The Bank's share price compared to global
indices in 2018, %
19.01.2018
30.01.2018
08.02.2018
19.02.2018
01.03.2018
13.03.2018
22.03.2018
02.04.2018
11.04.2018
20.04.2018
11.05.2018
22.05.2018
31.05.2018
09.06.2018
20.06.2018
29.06.2018
10.07.2018
19.07.2018
30.07.2018
08.08.2018
17.08.2018
28.08.2018
06.09.2018
17.09.2018
26.09.2018
05.10.2018
16.10.2018
25.10.2018
06.11.2018
15.11.2018
26.11.2018
05.12.2018
14.12.2018
25.12.2018
08.01.2019
17.01.2019

01.01.2018

01.02.2018

01.03.2018

01.04.2018

01.05.2018

01.06.2018

01.07.2018

01.08.2018

01.09.2018

01.10.2018

01.11.2018

01.12.2018

01.01.2019
5,4
5,2
5,0
4,8
4,6
4,4
4,2
+12%
+9%
-12%
-5%
-6%
CBM shares
MICEX Ru
S&P500
FTSE100
MSCI Russia
Share price
Bonds
Eurobonds

The Bank debuted in the Eurobonds market in 2006. As at end-2018, the outstanding principal amount of its Eurobonds totalled USD 2.2 bln and RUB 5.0 bln. They were issued via a special purpose vehicle, CBOM Finance p.l.c., on the Irish Stock Exchange.
Subordinated Eurobonds 2025

Eurobonds 2021

Subordinated Eurobonds 2027

Subordinated perpetual Eurobonds

Eurobonds 2023
XS1143363940

XS1510534677

XS1589106910

XS1601094755

XS1759801720
5 000 000 000 RUB

500 000 000 USD

600 000 000 USD

700 000 000 USD

500 000 000 USD
Par value
5 000 000 000 RUB

500 000 000 USD

557 000 000 USD

670 000 000 USD

500 000 000 USD
Amount outstanding
Coupon rate
16,500%

5,875%

7,500%

8,875%

5,55%
Maturity, years
10,5

5

10,5

Perpetual Eurobonds

5
ISIN
Issue date
Security type
Issue date

ISIN

Par value

Amount outstanding

Coupon rate

Maturity, years
Subordinated Eurobonds 2025

26.11.2014

XS1143363940

5 000 000 000 RUB

5 000 000 000 RUB

16,500%

10,5
Eurobonds 2021


07.11.2016

XS1510534677

500 000 000 USD

500 000 000 USD

5,875%

5
Eurobonds 2023


14.02.2018

XS1759801720

500 000 000 USD

500 000 000 USD

5,55%

5

Subordinated perpetual Eurobonds

10.05.2017

XS1601094755

700 000 000 USD

670 000 000 USD

8,875%

Perpetual Eurobonds

Subordinated Eurobonds 2027

05.04.2017

XS1589106910

600 000 000 USD

557 000 000 USD

7,500%

10,5
26.11.2014

07.11.2016

05.04.2017

10.05.2017

14.02.2018
Security type
Issue date

ISIN

Par value

Amount outstanding

Coupon rate

Maturity, years
Eurobonds 2023


14.02.2018

XS1759801720

500 000 000 USD

500 000 000 USD

5,55%

5

Security type
Issue date

ISIN

Par value

Amount outstanding

Coupon rate

Maturity, years
Security type
Issue date

ISIN

Par value

Amount outstanding

Coupon rate

Maturity, years
Security type
Issue date

ISIN

Par value

Amount outstanding

Coupon rate

Maturity, years
In 2018, the Bank placed one 5-year USD 500 mln 5.55% Eurobond issue; its coupon rate became the lowest in the Bank's entire Eurobond market history.

The deal book represents overwhelmingly international demand coming from a wide circle of investors, including funds, asset management companies, private banks and financial institutions. Geographically, orders were sourced from the UK (32%), the USA (30%), continental Europe (23%), Russia (14%) and Asia (1%). In total, more than 100 orders were given from 17 countries of the world. The book building process was preceded by a series of meetings with institutional investors in Zurich, London, New York and Boston.
Eurobonds due in 2023 (USD 500 mln)
In 2018, the Bank placed one 5-year USD 500 mln 5.55% Eurobond issue; its coupon rate became the lowest in the Bank's entire Eurobond market history.

The deal book represents overwhelmingly international demand coming from a wide circle of investors, including funds, asset management companies, private banks and financial institutions. Geographically, orders were sourced from the UK (32%), the USA (30%), continental Europe (23%), Russia (14%) and Asia (1%). In total, more than 100 orders were given from 17 countries of the world. The book building process was preceded by a series of meetings with institutional investors in Zurich, London, New York and Boston.
USA
30%
32%
UK
23%
Asia
Russia
14%
1%
Continental Europe
Internal bonds

The Bank's bonds are on the first level list of Moscow Exchange
Exchange-traded bonds series BO-10

Exchange-traded bonds series BO-11

Exchange-traded bonds series BO-09

Вonds series 15
11.07.2014

11.07.2014

25.03.2015

24.07.2018
RU000A0JUQQ5

RU000A0JUQR3

RU000A0JU898

RU000A0ZZE87
5 000

15 000

3 000

5 000
Par value, RUB mln
Coupon rate
8,50%

9,15%

10,25%

12,00%
Maturity, years
5

5

5

perpetual
ISIN
Placement date
Security type
Placement date

ISIN

Par value, RUB mln

Coupon rate

Maturity, years
11.07.2014

RU000A0JUQQ5

5 000

8,50%

5
Exchange-traded bonds series BO-10
Exchange-traded bonds series BO-11
Exchange-traded bonds series BO-09
Вonds series 15
11.07.2014

RU000A0JUQR3

15 000

9,15%

5
25.03.2015

RU000A0JU898

3 000

10,25%

5
24.07.2018

RU000A0ZZE87

5 000

12,00%

perpetual
Security type
Placement date

ISIN

Par value, RUB mln

Coupon rate

Maturity, years
Security type
Placement date

ISIN

Par value, RUB mln

Coupon rate

Maturity, years
Security type
Placement date

ISIN

Par value, RUB mln

Coupon rate

Maturity, years
In 2018 Credit Bank of Moscow optimised its capital structure by way of partial repayment and cancellation of USD 600 mln 7.500% p.a. Eurobonds due 2027 and perpetual USD 700 mln 8.875% p.a. Eurobonds. As a result, USD 557 mln in principal of CBOM'27 bonds and USD 670 mln in principal of perpetual bonds remain outstanding.

Some of those bonds were replaced by subordinated RUB 5 bln bonds issued in July 2018, which reduced the cost of capital. These capital market transactions yielded USD 14.4 mln of income to the Bank (net of savings on coupon payments in respect of the cancelled securities).

Rating actions in 2018:
» ACRA upgraded CBM's rating to А(RU) "Stable" in February 2018.
» Expert RA assigned a rating to CBM in May 2018.
» Moody's Investors Service assigned the counterparty risk rating Ba2.
BB-

В

В+

4



ВВ-

В



Ва3/NP


Ва2



A (RU)



ru A-
The Bank's credit ratings as of 31.12.2018
long-term default rating

short-term issuer default rating

viability rating

rating support

Stable outlook

long-term counterparty credit rating

short-term counterparty credit rating

Stable outlook


long-term local and foreign
currency deposit rating

Counterparty risk rating

Stable outlook


national scale credit rating

Stable outlook

Stable outlook


Stable outlook
In 2018 Credit Bank of Moscow optimised its capital structure by way of partial repayment and cancellation of USD 600 mln 7.500% p.a. Eurobonds due 2027 and perpetual USD 700 mln 8.875% p.a. Eurobonds. As a result, USD 557 mln in principal of CBOM'27 bonds and USD 670 mln in principal of perpetual bonds remain outstanding.

Some of those bonds were replaced by subordinated RUB 5 bln bonds issued in July 2018, which reduced the cost of capital. These capital market transactions yielded USD 14.4 mln of income to the Bank (net of savings on coupon payments in respect of the cancelled securities).

Rating actions in 2018:

» ACRA upgraded CBM's rating to А(RU) "Stable" in February 2018.
» Expert RA assigned a rating to CBM in May 2018.
» Moody's Investors Service assigned the counterparty risk rating Ba2.
Fitch Ratings









Standard and Poor's





Moody's Investors Service






ACRA



Expert RA
Fitch Ratings









Standard and Poor's






Moody's Investors Service




ACRA



Expert RA
BB-

В

В+

4



ВВ-


В




Ва3/NP


Ва2



A (RU)



ru A-
Fitch Ratings











Standard and Poor's








Moody's Investors Service







ACRA




Expert RA
BB-

В

В+

4





ВВ-



В





Ва3/NP


Ва2






A (RU)




ru A-