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26 April 2018

B&N Bank’s Board of Directors approves business plan for 2018

B&N Bank plans to post a net profit for full-year 2018 under IFRS, in accordance with its business plan, which was approved by the Board of Directors on 25 April 2018. The Bank plans to increase customer lending significantly whilst maintaining a moderate risk profile, to increase cost efficiency and decrease funding costs.

B&N Bank plans to grow lending across all key business lines, providing loans to major blue-chip companies, SMEs and retail customers. In the retail segment, the Bank plans to focus on developing mortgage lending, consumer loans and credit cards.

The business plan targets 2018 year-on-year growth of the corporate loan portfolio by more than 60% and of the retail loan portfolio by more than 40%.

B&N Bank will continue to develop actively commission income generating lines of business, including card transactions, electronic commerce, guarantees to major enterprises and SMEs. In 2018, the Bank plans to issue a total of more than RUB 70 billion of guarantees to its clients.

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