2009 2008 2007 2006

31.12.2008

Alfa-Bank Ukraine financial indexes as of September 30, 2008:

• Net profit: US$ 25.1 million (+US$ 19.8 billion YoY, up 376%)
• Total assets: US$ 4,318.4 million (+US$ 1,720.1 million YTD, up 66%)
• Equity: US$ 553.4 billion (+US$ 240.7 million YTD, up 77%)
• Gross total loans to customers: US$ 3,797.7 million (+US$ 1,501.7 million YTD, up 65%)
• Customer accounts: US$ 1,740.7 million (+US$ 898.0 million YTD, up 107%), including
  • customer accounts of corporate clients: US$ 1,446.1 million (+US$ 698.0 million YTD, up 93%),
  • customer accounts of retail clients: US$ 294.6 million (+US$ 200,0 million YTD, up 211%)
• Net interest margin: 9.8%* (6.4 % as at YE 2007)
• ROAE: 7.7%* (5.8% as at YE 2007)
• CAR: 16.7% (16.1% as at YE 2007)
• Cost to income ratio: 52.5% (64.8% as at YE 2007
  

*annualized

The bank showed sustained growth performance in its main areas of financial activity during the first three quarters of the year.

Net profit for the first nine months of 2008 rose by 376 % to US$ 25.1 million (9 months 2007: US$ 5.3 million). Operating results of the Bank continued to develop positively as the Bank generated operating income of US$247.3 million for the 9 months 2008, YoY increase of 173 %. This result is primarily attributable to increased net interest income and fee and commission income, comprising 91.5% and 7.5% of total operating income, respectively.

Total interest income increased to US$ 226.2 million over the nine months period ending September, 30 2008, compared to US$ 74.8 million for the same period of 2007, or 203%. Net fee and commission income increased to US$6.5 million from US$1.1 million over the same period, or 58%.

Based on organic growth, the Bank managed to raise its assets to US$ 4,318.4 million, an increase of 1,720.1 million — or above 66 % since the beginning of the year.

Gross loans and advances to customers rose by 65 % YTD to US$ 3,797.7 million. Loans to corporate customers grew by 52 % to US$ 2,461.4 million, while loans to individuals rose by 81 % to US$ 1,066.9 million, representing 28 % of the Bank’s gross loan portfolio The highest growth was shown by SME loans , which grew 221% YTD, amounting to US$ 269.4 million or 7.1% % of the Bank’s gross loan portfolio.

Customer accounts more than doubled from the beginning of the year and comprised US$ 1,740.7 million. Both corporate and retail customer accounts developed very strongly in the first three quarters, rising 93 % to US$ 1,446.1 million and 211 % to US$ 294.6 million, respectively. Customer accounts to individuals represent 17% of the Bank’s total customer accounts at September, 30 2008, an increase of 6% compared at December 31, 2007. This increase reflects the Bank’s goal to strengthen its retail base.

With a capital adequacy ratio of 16.7% at September 30, 2008, calculated in accordance with Basel Accord, the Bank demonstrates sufficient capitalization. As highlighted by continued substantial capital injections, total equity comprised US $553.4 million, representing an increase of 77% over 9M’08.

Condensed Interim Consolidated Financial Information and the Review Report of the Alfa-Bank Group for the nine-month period ending September, 30 2008, together with the Review Report of Independent Auditors, can be reviewed and downloaded at http://www.alfabank.com.ua/investor/reports .

The Financial Results Presentation for the nine-month period ending September, 30 2008 can be reviewed and downloaded at http://www.alfabank.com.ua/investor/Presentations .

Notes: Alfa-Bank Ukraine is part of the Alfa Group Consortium, one of Russia’s largest privately-owned financial-industrial groups (FIGs), with interests in oil and gas, commercial and investment banking, asset management, insurance, retail trade, telecommunications, media, technology, and other industrial, trade and special situation investments.

Alfa-Bank Ukraine is ranked among Ukraine ’s Top 10 commercial banks by assets, loans to corporate and retail clients, and corporate customer accounts, according to the National Bank of Ukraine .

The Bank is also rated by two independent international rating agencies: Moody’s Investors Service and Standard & Poor’s.

In November 2008, Alfa-Bank Ukraine ranked 2nd for transparency and disclosure among Ukrainian commercial banks according to a joint study by Standard & Poor’s and the Financial Initiatives agency.

Investor Relations

Phone: +38 044 499 10 41
Email: ir@alfabank.kiev.ua