On 22 January 2010 the rating agency Fitch Ratings revised the Outlook on Long-term rating of Sberbank in foreign currency to Stable from Negative

On 22 January 2010 the rating agency Fitch Ratings revised the Outlook on Long-term rating of Sberbank in foreign currency to Stable from Negative. This rating action was followed by the revision of Outlook on Long-term rating of the Russian Federation to Stable from Negative.

At the same time Fitch Ratings affirmed the ratings of Sberbank:

• Long-term foreign currency issuer default rating affirmed at ‘BBB’
• Short-term foreign currency issue default rating affirmed at ‘F3’
• Individual Rating affirmed at ‘C/D’
• Support Rating affirmed at ‘2’
• Support Rating Floor affirmed at ‘BBB’.

On 22 January 2010 Fitch Ratings also upgraded the ratings of BPS-Bank, Republic of Belarus, a subsidiary bank of Sberbank:

• Long-term foreign currency issuer default rating upgraded from ‘B-’ to ‘B’
• Support Rating upgraded from ‘5’ to ‘4’.