foir print

01.02.2010

The successful performance of Center-Invest Bank's bonds on the stock market is reducing the cost of credit for our customers.

In this six-month period, our bonds increased in price from 100% of par value to 102.5%, while the yield came down by one third: from 16% to 10.7%. The lower yield demonstrates that the market trusts Center-Invest Bank as a creditworthy issuer, and allows us to offer our customers cheaper credit. The prices for our bonds continued to rise in January 2010.

Center-Invest Bank's securities have been traded on the official Russian market for more than three years and are listed on the MICEX (Moscow Interbank Currency Exchange). Our first bond issue, raising RUR1.5bn, was in November 2006. In November 2009, we repaid the investors in these bonds in full and on time. The success of this  first issue generated investor interest in a new bond issue.

At the end of August 2009, after filing our report on the results of our first securities issue, we listed a second issue on the MICEX. The volume traded in September was RUR48.4m, in October it was RUR523m, and for the whole period from 01.09.2009 to 31.12.2009 it was more than RUR700m. On New Year's Eve, the Russian Trading System (RTS) included Center-Invest Bank's bonds in its quote-driven market, the RTS-Board.

In November 2009, the Central Bank of Russia included our second bond issue in the Lombard List  (http://www.cbr.ru/analytics/standart_system/print.asp?file=list_lomb.htm). This means that other commercial banks can obtain finance from the Central Bank using Center-Invest bonds as security. The inclusion of Center-Invest in the list clearly signals to the market that we are a reliable bank. The higher demand for our bonds will enable us to attract cheaper finance for lending at lower rates to the post-crisis economy and the real sector.

Market price (% of par) of Center-Invest Bank's second-issue bonds from 07.10.2009 to 20.01.2010