1Q 2018 Business Overview

Fee & commission income: strong and sustainable growth Fee and commission income (F&C) RUB bln F&C income shows sustainable growth Cost (ex D&A) to fee income ratio F&C growth is delivered in a cost efficient way +13.5% CAGR '13-17 X% +7.1% 21.2 19.8 17.8 15.6 12.8 64.8% 56.4% 53.3% 50.3% 49.4% 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 ☑ MOSCOW EXCHANGE 34

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