On December 19, 2018, the Rating Agency Fitch Ratings has affirmed its 'BBB- Long-Term Foreign- and Local-Currency IDRs of AO UniCredit Bank with the Stable Outlook.

The Rating Agency also affirmed the Short-Term Foreign- and Local-Currency IDRs at 'F3', Support Rating at '2' and Viability Rating at 'BBB-'.

The Rating Agency’s analysts noted that the affirmation reflects UniCredit Bank's stable asset quality, strong capital and liquidity buffers, and conservative risk appetite and management, which benefit from close integration with higher-rated parent. The Bank’s VR remains among the highest in Russia and reflects its strong credit profile compared with most local peers.

"UniCredit Bank has had high ratings from international rating agencies for many years. The strengths of the Bank noted by the analysts allow our Bank to maintain its reliability and successfully operate in the market despite the sometimes challenging environment", says Mikhail Alekseev, Chairman of the Management Board of AO UniCredit Bank.

For further details please see Fitch Ratings’ corresponding press release on the rating agency website https://www.fitchratings.com.