Moscow, February 20, 2014.

On February 19, 2014 Mariott Grand Hotel Moscow hosted the meeting of the FORS Club (the Issuers Club and the Club of Financial Directors “Finance, Reporting, Development, Strategy”) on the topic “Increasing Efficiency and Financial Appeal of the Bank” under the chairmanship of Denis Taradov, Partner of BDO. This was a scheduled meeting organized by our partners from BDO Russia & CIS.

During the first part of the event, Sergey Glukhov, President of Russian Association Six Sigma, made a presentation on “Lean Six Sigma: Technology for Multiplier Growth of the Bank’s Business Process Efficiency”.

After the coffee break during the second part of the meeting there was a presentation by Olga Ulyanova, Vice-President of Moody’s Investors Service Ltd. She explained the Moody’s methodology for calculation of the banks’ rankings. Ranking topic was continued by Elena Redko, Junior Vice-President and Analyst of Moody’s, in her presentation on “What Factors do Ranking Agencies Consider when Analyzing Banks’ IFRS Statements”.

During the meeting and after the official part experts of BDO and Moody’s answered numerous questions of the participants, who have also shared their experiences and expert opinions.

Event was attended by about 30 top managers of Russian banks, including Zurich Bank, Bank St. Petersburg, Renaissance Credit, Rosenergobank, Expobank, and others. Several media also took part in the discussion, including InterFax Center for Economic Analysis, Banki.ru, Bankir.ru, and The Analytical Banking Magazine.