Credit Europe Bank Ltd.

Presentation

October 2007

2

Shareholder’s Structure

____________________

FIBA Holding A.S.

Credit Europe Group N.V.

Credit Europe Bank (Suisse)

S.A.

100%

Credit Europe Bank (Romania)

S.A.

FIBA International Financial Services

Company PLC

99.99%

Finans International

Invest LLC

Credit Europe Leasing S.A.

100%99.99% 100%

Credit Europe Leasing

Ltd. (Russia)

89.8%100% 100%

Credit Europe Bank Ltd.

Credit Europe Bank N.V.

Credit Europe Bank (Ukraine)

Ltd.

1,6%

99,99%95%

Finansbank A.S.

9.68%

3

• Operating in Russia since 1997• Ultimately owned and fully backed by the FIBA Group

(one of Turkey’s largest financial conglomerates) • Offers full range of corporate, retail and SME banking services• 45 branches in Moscow and 40 branches and offices in major economic centres of the Russian Federation, plus 35 in

the pipeline • Has over 1.5 mm retail, corporate and SME customers as of September 2007• In March 2007, Finansbank (Russia) Ltd. became Credit Europe Bank Ltd.• Strong management team with 10 years of experience of operating in Russia and other international banking markets• Rated Ba1 by Moody’s (Stable outlook)

Highlights

Credit Europe Bank Overview

Started mortgage lending in June 2007Leasing company in Russia reached a loan portfolio of US$ 50 million as of September 2007Credit Europe Life, the insurance arm of the Group in Russia, is being incorporated

Recent developments

4

History

Key Milestones in Credit Europe Bank’s HistoryFinansbank representative office established in Moscow

Incorporated as a commercial bank and commenced operations focusing on corporate clients

Met all commitments to creditors in aftermath of Russian economic crisis

Strategic decision of FIBA Group to expand Russian operations

Commenced consumer finance operations

Admitted to National Deposit Insurance Scheme by CBR

Entered retail banking sector

Commencement of SME banking operations

Finansbank (Moscow) Ltd. became Finansbank (Russia) Ltd.

First regional office opened

1st Rouble bond is issued

1998 2000 2002 2004 20051997 20011999 20031994 2006 2007

1st Eurobond is issued

1st Syndicated Loan is closed

FIBA Group sells 46% of Finansbank A.S. (Turkey) to National Bank of Greece

Finansbank (Russia) Ltd. becomes Credit Europe Bank Ltd.

First Rating by Moody’s (Ba2)

Rating upgrade by Moody’s (Ba1)

Ranking in Sector (asset size) #42#291 #282 #262 #204 #61#95

5

10%

45%45%

40%

20%

40%

Credit Europe Bank’s target is to continue to increase its share in Russian financial services market

Key Objectives and Strategies

Strategy

Expand through balanced & continuous growthof its corporate, retail and SME banking activities in Moscow and the regions

Introduce innovative financial products that meet customers needs

Leverage international expertise and best practice standards of wider FIBA Group

Maintain sound risk management discipline

Greater market share in each of the regions in which it currently operates

Enter into new regions where Credit Europe Bank can operate profitably

Increased business volumes, asset size and profitability

Maximise shareholder value

Invest in human resources and IT systems to generate quality growth, support new products and streamline processesRetail

BankingCorporateBanking

SMEBanking

Objectives

Business Focus

Strategies

Medium Term Target Long Term Target

RetailBanking

CorporateBanking

SMEBanking

6

Geographical Presence

Present in Key Economic Centres

Moscow

St Petersburg

Samara

Nizhniy Novgorod

Rostov-on-Don Ufa

PermChelyabinsk

OmskNovosibirsk

YekateringburgSaratovVoronezh

Kazan

KrasnodarStavropol

Orenburg

Kemerovo

Krasnoyarsk

Surgut

Nizhnevartovsk

Tyumen

Togliatta

Tambov

Network Across Russia85 branches

95 ATMs

4,825 employees

45 branches located in Moscow and 40 branches in Russian key economic regions with strong potential

7

Branch Overview

# of branches

23

54

85

0

20

40

60

80

100

2005 2006 Sep - 2007

• Number of branches to reach 120 by YE 2007

city current pipelineMoscow 45 10St.Petersburg 13 3Kazan 2 2Rostov-na-Donu 2 2Ufa 4 2Samara 1 2Chelyabinsk 1 1Krasnodar 1 2Tumen 1 0Orenburg 1 0Voronej 1 1Perm 1 0Ekaterinburg 3 2Novosibirsk 1 2Omsk 2 0Saratov 1 0Volgograd 1 0Nizhniy Novgorod 1 2Nizhnekamsk 1Izhevsk 1Tolyatti 1Almet’evsk 1 0Surgut 1Barnaul 1 0Cheboksary 1 0Total 85 35

8

Human Resources

• Strong human resources is one of our competitive advantages

• MT programs organized in Russia and The Netherlands

• Focus on customer-centric corporate culture

• Continuous investment in trainings and education

• Relocation of personnel to match market needs

# of employees

485048253297

0500

100015002000250030003500400045005000

2006 Sep - 2007 Dec - 2007

9

18.4%12.8%

68.8%

Focus on Long-Term Corporate ClientsFirst business line of Credit Europe BankCore products are

– Corporate Loans

– Project Finance: primarily to industrial and construction companies that is collateralised

– Trade Finance

– Settlement Operations

– FX ServicesCorporate loan portfolio amounted to US$ 720.8 mm (37.2% of total assets and 46.1% of loan portfolio (1)) as of September 2007, up by 77.5% since end 2006 from US$ 406.1mm (2)

Competitive advantages are

– quick response to credit requests

– strong IT infrastructure

– trade finance expertise

Corporate Banking

168.1

406.1

720.8

75.30

100

200

300

400

500

600

700

2004 2005 2006 September 2007

Commercial Customer Loans

____________________(1) Calculated prior to provisions for loan impairment and excluding SME loans (2) Source: Consolidated Financial Statements and CBR

(As of September 2007)

Corporate Loans

Currency Composition of Corporate Loans

(US$mm)

Other RussianRoubles

US Dollars

10

SME Banking – Overview

cash loans - SME

8662.9

200

102030405060708090

100

2006 Sep-07 Dec-07

US

$ (m

ln)

• SME was set up in early 2005 following a thorough market analysis.

• CEB’s SME definition and target: Maximum 250 employeesAnnual sales up to $20,000,000Credit needs from $1,000 up to $2,000,000

• Leverage on our experience in fast growing markets through our group

• In September 2007 total SME portfolio (gross of provisions) reached to US$ 62.9 million

• Although the loan portfolio is relatively small, we believe the business line will become the growth engine of the bank in the medium term.

• Focus and full commitment to SME Banking at Management and shareholders levels

• In the long run, we are aiming for a loan portfolio breakdown of 40-40-20

# credit customers SME

378

4500

2820

0

500

1000

15002000

2500

30003500

4000

4500

5000

2006 Sep-2007 Dec-2007

11

25.142.6 48.7

18.8

22.8

25.837.3

27.3

47.9

8.5

8668.4

0

20

40

60

80

2004 2005 2006 Sep- 2007

Current Account and Demand Deposits Term Deposits

Retail BankingFocus on Lending, Product Range and Innovation

Comprehensive range of retail banking products including various types of consumer loans and retail depositsOver 1.5mm retail customersFocus on retail lending as it is profitable, given higher margins to individualsGrowth driven by developing branch network, quality of service and product innovation (acquire ~2000 new customers a day)Five main products offered to retail borrowers:

- Instant Loans- Multi-purpose Loans - Car Loans- Payroll Cards and International Bankcards- Holiday Loans- Payroll Services

Offers 3rd Party insurance products (life and car) in sponsorship with leading international insurers (e.g. Aviva)Offers Mortgage Loans since June 2007

Retail Deposits

Retail Loans

158.8

180.1330.9

158.210.4

122.7 153.789.5

232.9

38.57.8

64507.5

46.1

258.5

0

200

400

600

800

2004 2005 2006 Sep - 2007

Instant Loans Car Loans Multipurpose Loans Other

(US$mm)

(US$mm)781.4

12

Retail Banking

• Co-brand bank cards with 2 international merchants: Auchan and Metro

•Successful results:•Increased customer satisfaction•Higher purchase volume•Increased brand recognition

13

Credit Ratings

Moody’s ranks Credit Europe Bank above its competitors like Russian Standard Bank & HCFB

Credit Europe Bank Ltd. Peer Group in Russia

____________________As per May 5th 2007

Ba1

Ba2

Ba3

B1

14

Total Assets – in mln US$

34 45 65 148

493

1 079

1 937

2 200

0

500

1000

1500

2000

2500

2001 2002 2003 2004 2005 2006 Sep2007

(E)2007

Financial Performance

15

Capital base (shareholders equity + subordinated debt) – in mln US$

Financial Performance

10 12 14 21

58

137

320317

0

50

100

150

200

250

300

350

2001 2002 2003 2004 2005 2006 Sep2007

(E)2007

16

Net Profit – in mln US$

Financial Performance

0.3 0.91.7

3.1

5.97.4

11.5

15

0

2

4

6

8

10

12

14

16

2001 2002 2003 2004 2005 2006 Sep2007

(E)2007