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Kazan, June, 2015
Investor presentation Kazan, June, 2015 2
Board of Directors
Igor G. Avanesyan
CEO of ZAO United Leasing Company Center-
Capital
Sergey V. Alexeev
First Deputy CEO of OAO Svyazinvestneftehim
Farida R. Volkova
Head of the State Legal Board of the President of the Republic of
Tatarstan
Alexandr P. Lavrentiev
President of The Association of Enterprises and Entrepreneurs of
the Republic of Tatarstan
Yury L. Levin
Managing Partner at BVM Capital Partners Ltd
Robert K. Minnegaliev
Chairman of the Management Board of AK BARS BANK
Valery Y. Sorokin
CEO, Svyazinvestneftehim
Chairman of the Board of Directors
Vladimir A. Terentyev
Deputy CEO, Svyazinvestneftehim
.
Yevgeny A. Tikhturov
Head of Finance management division, member of the
Management Board of OAO Tatneft
Arthur N. Khairullin
Deputy CEO, Svyazinvestneftehim
Sergey V. Shibayev
Director of Kafa Finance Inc, Canada
Investor presentation Kazan, June, 2015
Investor presentation Kazan, June, 2015 3
Management board
Investor presentation
Robert K. Minnegaliev
Chairman of the Management Board
Zufar F. Garaev
First Deputy Chairman of the Management
Board
Marat F. Shagitov
First Deputy Chairman of the
Management Board
Ilfan E. Gubaidullin
Deputy Chairman of the Management
Board
Bulat S. Davletshin
Deputy Chairman of the
Management Board
Radik I. Salyakhutdinov
Deputy Chairman of the Management Board
Airat K. Bayazitov
Chief Accountant
Gulnara R. Sattarova
Director, Risks Department
Investor presentation Kazan, June, 2015 4
Key investment highlights
#1 Bank In Tatarstan with extensive local and federal network across Russia headquartered in Kazan, Tatarstan Listed among TOP-20 Russian banks
PROFESSIONAL SERVICES for private and corporate clients
ЕFFECTIVE INFRASTRUCTURE for investment assets and properties (asset management and unit funds)
ВEST EXPERTISE of the local and Russian markets
SERVICES FOR INTERNATIONAL CLIENTS large correspondent network, trade finance operations
TAILOR-MADE CLIENTELE APPROACH
RATINGS: MOODY`S: B1, FITCH: BB-
Investor presentation
Investor presentation Kazan, June, 2015 5
Key Strengths
REPUBLIC OF TATARSTAN – ONE OF THE MOST ECONOMICALLY DEVELOPED REGIONS IN RUSSIA
Tatarstan is one of the most economically developed regions of Russia
Gross regional product (GRP) growth rate of 1,3% in 2014 vs. 0,6% (GDP) in Russia as a whole
DOMINANT MARKET POSITION IN THE REPUBLIC OF TATARSTAN
The Leading bank in the Republic of Tatarstan, representing 37,88% of the total assets and 41,67% of the total capital in the banking sector of the Republic (1)
Top-20 bank in Russia: 19th by assets and 20th by equity (2)
STRONG RELATIONSHIP WITH THE GOVERNMENT OF TATARSTAN
As of 1 January, 2015 the Tatarstan Republic, through ministries, government agencies and related companies ultimately controlled the Bank.
Authorized agent of the government of the Republic of Tatarstan for servicing the budgetary accounts and implementation of the social policy of the Republic
EXTENSIVE BRANCH NETWORK INTATARSTAN AND ACROSS RUSSIA
The Bank has a broad geographic footprint in 30 regions in Russia
AK BARS Bank has the 11th largest distribution network in Russia with 32 branches and 321 other offices (3)
30
ATTRACTIVE PROSPECTS FOR THE RUSSIAN BANKING MARKET
The banking market remains underpenetrated, compared to Central and Eastern European countries
(1) National Bank of Tatarstan, as of 1 January, 2015.(2) Profile magazine, as of 1 April, 2015.(3) Central Bank of Russian Federation, as of 1 June, 2015, excluding Sberbank network.
Investor presentation
Investor presentation Kazan, June, 2015 6
Corporate 77%
Retail 23%
AK BARS Bank at a Glance
AK BARS BANK PLAYS AN IMPORTANT ROLE IN THE IMPLEMENTATION OF TATARSTAN’S REGIONAL POLICY
Economic Importance
AK BARS Bank services the largest companies in Tatarstan (Tatneft, Svyazinvestneftekhim, Nizhnekamskneftekhim)
The Bank cooperates closely with the local business community, providing quality service and support
Financial Importance
Continuous increase in a number of clients indicates a growth of confidence in the Bank. Clients from Tatarstan account for 74% of banks’ customer accounts
Reputational Importance
The Cabinet of Ministers of Tatarstan singled out the Bank as the backbone in the region
LOAN PORTFOLIO COMPOSITION AS PER GROUPBUSINESS SEGMENTS AND INDUSTRY AS OF31 DECEMBER, 2014 (1)
Investor presentation
(1) Source: IFRS accounts, 2014
Investor presentation Kazan, June, 2015
OJSC Investments & Consulting 11,5%
Osmand Holding Limited (Tatneft) 11,6%
Ministry of Land and Property Relations of Tatarst 20,6%
Iks-luch 13,6%
OJSC Svyazinvestneftehim 18,5%
Garant- Management, LLC 9%
Sinek Investments and Development Ltd 9,2%
Others 6%
7
2009 2010 2011 2012 2013 2014
Branches and other offices 326 327 362 387 399 381
Corporate clients 44 241 47 149 49 053 51 074 53 343 62 131**
Retail clients (thousand) 2 059 2 196 2 249 2 525 2 935 2 974**
Loans (Gross) USD mln 3 063 2 888 3 452 4 001 4 350 5 223
Total assets USD mln 3 797 4 103 5 100 5 643 6 170 7 701
Deposits USD mln 1 644 2 249 2 907 3 116 3 613 3 801
Total liabilities USD mln 3 312 3 579 4 624 5 137 5 623 7 163
Key Rations 2009,% 2010,% 2011,% 2012,% 2013,% 2014,%
Net loans / deposits 164,5 112,4 107,6 116,5 110,1 128,6
Provisions / gross loans 11,7 12,5 9,4 9,3 8,6 6,4
Deposits / assets 43,3 54,8 57,0 55,2 58,5 49,4
Equity / assets 12,8 12,8 9,3 9,0 8,9 7,0
Tier 1 capital ratio 14,1 13,1 9,4 9,1 9,7 7,5
Total capital ratio 17,6 16,2 11,8 13,6 14,5 11,2
AK BARS Bank at a Glance
THE BANK’S SHAREHOLDERS AS OF 17 MARCH, 2015
SUCCESSFUL TRACK RECORD*
*Source: IFRS accounts. FX RUB/USD = 56.2584 as of 31 December, 2014** As of May, 2015 - 63 656 corporate and more than 3,1 mln. retail customers
Investor presentation
Investor presentation Kazan, June, 2015 8
Key Milestones
1993 ‒ 2002
1993: The Bank is established by the Government of Tatarstan
1998: Cabinet of Ministers of Tatarstan singles out the Bank as the authorised bank of the Government
2003
Branches are opened outside Tatarstan
2005
The Bank issues its first Eurobond and raises another international syndicated loan
2006
The Bank issues rouble bonds and raises two international syndicated loans
Share capital increases to USD 886 mln
2007
The Bank issues a Eurobond in the amount of USD 250 mln
The Bank raises international syndicated loans
2008
The Bank raises international syndicated loan
Repays syndicated loans in the amount of USD 285 mln
2009
The Bank pays back a syndicate loan in the amount of USD 200m
The Bank’s share capital increased by USD 300m to USD 932m
The Bank issues Eurobond in the amount of USD 280m
2010
The Bank redeems a Eurobond issue in the amount of USD 176 mln
Resumes loan disbursement under government program of concessional auto lending
2011
The Bank is listed in TOP-100 most reliable banks of Russia by Forbes magazine
Closes the syndicated Murabaha financing contract in the CIS in the amount of USD60 mln
General Partner of Universiade 2013 in Kazan
2012
The Bank issues the largest ever Eurobond in its history in the amount of USD 600 mln
The Bank issues USD 500m 8.75 per cent Eurobonds due 2015
The Bank issues 5 bln. Rub. bonds
2013
AK BARS issues RUB bonds in total amount of 10 bln.
Becomes Strategic Partner of SEZ «Innopolis»
The Bank closes second syndicated Murabaha deal
2014
The Bank receives the status of a Participating Financial Institution in accordance with the FATCA
The Bank closed its mortgage portfolio securitization deal within the issue of RUB $2.5 bln. mortgage-backed bonds
The Bank issues 5 bln. Rub. bonds
Investor presentation
Investor presentation Kazan, June, 2015 9
7242
18300
4562
14583
861
2066
8472
22367
Borrow edFunds
Loans Equity Assets
AK BARS Bank Tatarstan Banking system
AK BARS Bank is the Largest Bank in Tatarstan
AK BARS BANK’S SHARE (%) AND RANK AMONG TATARSTAN’S BANKS (1)
BANK’S SHARE IN THE BANKING SERVICESMARKET OF TATARSTAN (USD MLN) (1)
40% 31% 42% 38%
AK BARS Bank is the largest bank in TatarstanThe Bank has the leading role among the region’s banks
(1) Source: National Bank of Tatarstan, According to RAS statements as of 1 January, 2015.
Investor presentation
Investor presentation Kazan, June, 2015
77017551
7274
6625
0,0
7800,0
10
595
546 538
471
0,0
595,0
AK BARS Bank: Peers comparison
PEER COMPARISON BY TOTAL ASSETS (USD MLN) AS OF 31 DECEMBER, 2014 (1)
PEER COMPARISON BY EQUITY (USD MLN)AS OF 31 DECEMBER, 2014 (1)
(1) Source: IFRS accounts. FX RUB/USD = 56.2584 as of 31 December, 2014
Investor presentation
Investor presentation Kazan, June, 2015 11
AK BARS Bank’s Key Operating Region is Tatarstan
TATARSTAN
TATARSTAN PROFILE
• International ratings Ba2/BBB-
• One of the most economically developed regions of the Russian Federation, with vast crude oil reserves (Tatarstan produces 33.8 million tones of crude oil per year and has estimated oil reserves of more than 1 billion tons).
• Leading industries include: oil refinery and production, chemicals and petrochemicals, machinery construction, agriculture.
• Among the Top-10 leading subjects of Russia by macroeconomic indicators (on per capita basis): commission of housing, retail trade turnover, manufacturing agricultural produce, amount of capital investments, volume of industrial output.
• Gross regional product (GRP) growth rate of 1,3% in 2014 vs. 0,6% (GDP) in Russia as a whole.
• Population: 3.8mln (as of 1 January 2015). The territory of the Republic covers 67,836 sq. km.
• 1st place in the ranking of regions on the evaluation of the performance of executive authorities of subjects of the Russian Federation (the Government of the Russian Federation, May 2014).
• #1 within the rating of Russian Innovative Regions (Association of Innovative Regions of Russia together with the Russian Presidential Academy of National Economy and Public Administration, July 2014).
Investor presentation
Investor presentation Kazan, June, 2015 12
Broad Distribution Network
KAZAN
In Russia by equity(3)
In Russia by assets(3)In Russia by regional network
(1)
Bank in Tatarstan by assets(2)#1
#19#11
#20
(1) Comparison composed by AK BARS Bank as of 1 June, 2015, excluding Sberbank network.(2) According to National Bank of Tatarstan, as of 1 January, 2015(3) According to Profile magazine as of 1 April, 2015
Investor presentation
Investor presentation Kazan, June, 2015 13
Diversified Lines of Business
RETAIL LENDING
RETAIL BUSINESS CORPORATE BUSINESS
Retail business is the most dynamically growing segment – over 2.9mln clients as of 1 January 2015
The Bank’s largest business is corporate banking – representing 40 % of total revenues (1)
DEPOSITS
Offers a wide range of deposits tailored to serve all account-holder segments
PLASTIC CARDS OPERATIONS
Principal member of the international MasterCard payment system and the VISA payment system, participant of Unified settlement system
1 004 523 plastic cards issued as of 1 January, 2015
1269 ATMs, 8404 POS terminals, 217 information kiosks, over 700 cash advance terminals as of 1st January, 2015 respectively
LENDING BUSINESS
Loans to corporate customers represent 77% of the Bank’s total loans and advances to customers
70% of the corporate portfolio is represented by companies from construction, trade and finance sectors
DEPOSITS
AK BARS’ corporate customer accounts represent 62% of total customer accounts
State and public organizations are the largest depositors: 55% of total term deposits
AK BARS Bank had over 62,000 customers
(1) Source: IFRS accounts as 31 December, 2014
Among Russia’s 30 largest retail banks
Retail portfolio represents almost 23% of the total loan book and
advances to customers before provision (as of 31 December, 2014)
Predominantly focused on consumer and mortgages lending – 43,9%
and 47,0% of retail portfolio respectively
Investor presentation
Investor presentation Kazan, June, 2015 14
Diversified Lines of Business
INVESTMENT BUSINESS
Investor presentation
AK BARS investment business institutions are represented by AK BARS BANK, AK BARS FINANCEand AK BARS CAPITAL.
AK BARS Bank Investment banking services consists of Structured Finance, Promissory Notes, Trading Operations, Brokerage
Services, Bonds, Eurobonds and Alternative Finance.
The Bank is represented on MOEX, Bloomberg and Reuters platforms and is considered a trusted borrower on the domestic
debt market. Since 2005, the Bank has been an active and trusted participant on the international Eurobonds market.
As of June 2015, bonds outstanding:
- 4 ruble-denominated bonds - a total of 20 billion rubles
- 2 Eurobonds issues - $ 1.1 billion in total
The Bank (the 1st Bank in Former USSR) raised Sharia compliant financing (Murabaha) twice in total amount of US$ 160 mln.
АK BARS Bank Bloomberg ‹BBG000PG2V69›
AK BARS Finance Investment Company Bloomberg ‹BBG001BBN3T7›
AK BARS CAPITAL Management Company Bloomberg ‹BBG004TTLGM3›
Investor presentation Kazan, June, 2015 15
229155
2704
64286359
264408
2527
54553
297
277456
3128
61
841
337
294471
3640
69539
640
317211
3978
17
947
700
614
178
4887
64
1222
736
2009 2010 2011 2012 2013 2014
Other assets Investment properties Loans to customers Due from other banks Securities Cash and cash equivalents
Strong Asset Base and Growth Profile
ASSET STRUCTURE AS OF 31 DECEMBER, 2014 (USD MLN / %) (1)
Assets have grown steadily over the last periods Assets growth in 2014 was due to the increase of securities and loans to customers by 29% and 23% respectively vs. 2013 Loans and advances to customers represent the largest part of assets structure (63%) as of the end of 2014
(1) IFRS accounts. FX RUB/USD = 56.2584 as of 31 December, 2014
9%
8%
2%
71%
4%
6%
7%
14%
1%
62%
10%
6%
7%
17%
1%
61%
9%
5%
12%
10%
64%
8%
1%
5%
11%
15%
65%
1%
3%
5%
10%
16%
1%
63%
2%
8%
Investor presentation
Investor presentation Kazan, June, 2015
37974103
51005643
6170
7701
2009 2010 2011 2012 2013 2014
16
87%
13%
87%
13%
84%
16%
80%
20%
77%
23%
77%
23%
2009 2010 2011 2012 2013 2014
Loans to Corporates Loans to individuals
PORTFOLIO INDUSTRY BREAKDOWN AS OF DEСEMBER, 2014, %
CORPORATE VS. RETAIL LOANS, %
AK BARS Bank net loan portfolio is diversified across key sectors of Tatarstan’s
Economy TOP - 40 borrowers account for 46% of the total loan portfolio
Diversified Loan Portfolio
ASSET GROWTH AS OF 31 DECEMBER, 2014 (USD MLN)
Source: IFRS accounts. FX RUB/USD = 56.2584 as of 31 December, 2014
CAGR=15,2% (2009-2014)
10%
32%10%
7%8%23%
5%
15%
Investor presentation
10%
7%8%23%
5%
15%
32%
Investor presentation Kazan, June, 2015
2009 2010 2011 2012 2013 2014
2704 25273128
36303978
4887
Total loans
17
TOTAL LOANS (USD MLN) (1)
Diversified Loan Portfolio
CAGR=12.6% (2009-2014)
LOAN PORTFOLIO MATURITY PROFILE AS OF
31 DECEMBER, 2014 (USD MLN) (1)
(1) Source: IFRS accounts. FX RUB/USD = 56.2584 as of 31 December, 2014
Investor presentation
Investor presentation Kazan, June, 2015 18
CORPORATE LOANS SECTOR BREAKDOWN, AS OF 31 DECEMBER, 2014 (USD MLN / %)
Corporate and Individual Loans By Sector*
LOANS TO INDIVIDUALS SECTOR BREAKDOWN, AS OF 31 DECEMBER, 2014 (USD MLN / %)
Investor presentation
(1) Source: RAS accounts. FX RUB/USD = 56.2584 as of 31 December, 2014
Investor presentation Kazan, June, 2015 19
OVERDUE LOANS AND PROVISIONS AS % OF
TOTAL LOANS AS OF 31 DECEMBER, 2014
LARGEST BORROWERS AS % OF GROSS LOAN PORTFOLIO
The Bank’s management does not foresee any further significant
impairments on the existing loan book
Overdue loans to total loans decreased by 1,1% during 2014
Loans impairment provision to total loans decreased by 2,2% during
2014
31 largest clients with loan amount >USD
21,3 mln 38%
Other 62%31 December, 2013
40 largest clients with loan amount >USD
21,3 mln 46%
Other 54%31 December, 2014
Source: IFRS accounts. FX RUB/USD = 56.2584 as of 31 December, 2014
Loan Portfolio Quality and Provisioning
7,9%
11,7%
7,1%
12,5%
5,3%
9,4%
7,3%
9,3%
6,6%
8,6%
5,5%
6,4%
2009 2010 2011 2012 2013 2014
Overdue customer loans to total loans (NPLs) Provisions to total customer loans
Investor presentation
Investor presentation Kazan, June, 2015 20
1 month 1-6 month 6-12 month 1-5 years 5 years
339
1020
612
1537
293
3312 3579
46245137
5623
7163
2009 2010 2011 2012 2013 2014
Total loans
Sustainable Funding Model Focused on Deposits
Liabilities Composition as of 31 December, 2014 (%)
(1) Source: IFRS accounts. FX RUB/USD = 56.2584 as of 31 December, 2014
CAGR=16.7% (2009-2014)
TOTAL LIABILITIES GROWTH (USD MLN) (1)
CUSTOMER DEPOSIT MATURITY PROFILEAS OF 31 DECEMBER, 2014 (USD MLN) (1)
50%
11%
22%
12%
4%1%
63%
5%
19%
9%3%
1%
63%
15%
14%
4%
3%
1%
61%
13%
14%
5%
6%
1%
64%
9%
15%
5%
6%1%
53%
12%
18%
7%
9%
1%
2009 2010 2011 2012 2013 2014
Customer accounts Due to other banks Debt securities in issue
Eurobonds Subordinated debt Other
Investor presentation
Investor presentation Kazan, June, 2015 21
TOTAL SHAREHOLDERS EQUITY AS OF 31
DECEMBER, 2014 (USD MLN) (1)
Adequate Capitalisation Levels
CAGR 2009-2014 = 2.1%
CAPITAL RATIOS AS OF 31 DECEMBER, 2014 (%)
As of 31 December, 2014 the total capital ratio of Bank amounted to 11.2 %
14,1%
17,6%
13,2%
16,2%
9,4%
11,8%
9,1%
13,6%
9,7%
14,5%
7,5%
11,2%
2009 2010 2011 2012 2013 2014
Tier 1 Capital Adequacy Ratio Total Capital Adequacy Ratio
Investor presentation
Investor presentation Kazan, June, 2015 22
Balance sheet, USD in millions 2009 2010 2011 2012 2013 2014 Growth 2009-2014
Cash and equivalents 359 297 337 640 700 736 205,2%
Securities portfolio(including direct repo)
286 553 841 539 947 1,222 427,7%
Due from other banks 64 54 61 69 17 64 100,1%
Gross loans 3,063 2,888 3,452 4,001 4,350 5,223 170,5%
Provisions (359) (361) (324) (371) (372) (336) 93,6%
Net loans 2,704 2,527 3,128 3,630 3,978 4,887 180,7%
Investment properties 155 408 456 471 211 178 114,9%
Other assets 229 264 277 294 317 614 267,7%
Total assets 3,797 4,103 5,100 5,643 6,170 7,701 202.8%
Due to other banks 379 193 718 666 491 865 228,1%
Customer accounts 1,644 2,249 2,907 3,116 3,613 3,801 231,1%
Murabaha facility and Eurobonds 404 313 186 271 293 500 123,8%
Securities issued 728 673 659 711 843 1,290 177,0%
Subordinated debt 121 120 120 335 361 620 513,7%
Other liabilities 36 31 34 38 21 87 245,8%
Total liabilities 3,312 3,579 4,624 5,137 5,622 7,163 216,3%
Equity 485 524 476 505 548 538 110,9%
Total liabilities and equity 3,797 4,103 5,100 5,643 6,170 7,701 202,8%
(USD in millions, at constant RUB/USD exchange rates)
Note: Exchange rate used: RUB/USD = 56.2584 as of 31 December, 2014.
Financial Highlights
Investor presentation
Investor presentation Kazan, June, 2015 23
Profit and Loss Statement, USD in millions
2009 2010 2011 2012 2013 2014
Net Interest Income 115 99 69 114 135 134
Net fee and Commission income 20 18 19 23 27 29
Other Income 66 25 (38) 86 77 0
Operating profit 201 142 50 223 239 163
Operating expenses (71) (90) (113) (126) (138) (151)
Total profit before Provisionsand Taxes
130 52 (63) 97 101 12
Provision for loan impairment (129) (5) (11) (55) (51) (36)
Profit before tax 0 47 (74) 42 50 (24)
Income tax 0 (8) 13 (6) (8) 4
Net profit 0 39 (61) 36 42 (20)
*Only interest-earning assets are taken into account
(USD in millions, at constant RUB/USD exchange rates)
Note: Exchange rate used: RUB/USD = 56.2584 as of 31 December, 2014.
Financial Highlights (cont’d)
Investor presentation
Investor presentation Kazan, June, 2015 24
Key Ratios 2009 2010 2011 2012 2013 2014
Net loans / deposits 164,5% 112,4% 107,6% 116,5% 110,1% 128,6%
Provisions / gross loans 11,7% 12,5% 9,4% 9,3% 8,6% 6,4%
Deposits / assets 43,3% 54,8% 57,0% 55,2% 58,5% 49,4%
Equity / assets 12,8% 12,8% 9,3% 9,0% 8,9% 7,0%
Tier 1 capital ratio 14,1% 13,2% 9,4% 9,1% 9,7% 7,5%
Total capital ratio 17,6% 16,2% 11,8% 13,6% 14,5% 11,2%
Key ratios 2009 2010 2011 2012 2013 2014
Net interest margin* 3,9% 3,4% 2,1% 2,9% 3,0% 2,5%
RoAA 0,0% 1,0% (1,3%) 0,7% 0,7% (0,3%)
RoAE 0,1% 7,7% (12,3%) 7,2% 8,0% (3,6%)
Financial Highlights (cont’d)
Investor presentation
Investor presentation Kazan, June, 2015 25
Notable Projects
National Partner of 16th FINA World
Championship 2015 in Kazan
Special Economic Zone «Innopolis»
Strategic Partner
Special economic zone
Alabuga Partner
Universiade 2013
Investment and venture fund of the
republic of tatarstan
partner
kazan federal university
strategic partner
Social card
Founder & Partner
Universal Electronic Card
Founder
Investor presentation
Investor presentation Kazan, June, 2015 26
Notable Projects
AK BARS BankRuble bondRUB 5 000 000 000
Issuer2012
AK BARS BankEurobond (LPN) $ 500 000 000 (11.2012)
Issuer2012
AK BARS BankEurobond (Subordinated Loan)$ 600 000 000 (07.2012)
Issuer2012
AK BARS BankRuble bondRUB 5 000 000 000 (03.2013)
Issuer2013
AK BARS BankRuble bondRUB 5 000 000 000 (08.2013)
Issuer2013
AK BARS BankRuble bondRUB 5 000 000 000 (12.2014)
Issuer2014
Murabaha Second Shariah compliant syndication $ 100 000 000 BorrowerHonorable mention under «Europe Deal of the Year 2013»
Borrower (Purchaser), 2013
AK BARS BankSecuritization within the issue of mortgage-backed bonds RUB 2 500 000 000 (12.2014)
Originator2014
AK BARS BankEurobond$ 300 000 000
Issuer2008
AK BARS BankSyndicated loan$ 200 000 000
Borrower2008
AK BARS Bank Eurobond(issuance and exchange)$ 280 000 000
Issuer2009
MurabahaShariah compliant syndication,First transaction in CIS$ 60 000 000
Borrower 2011 Europe’s Best Deal 2011
Investor presentation