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Moody's Interfax Rating Agency withdraws rating of BSGV (Russia). Action follows the completion of the merger with Rosbank (Russia)

July 07, 2011 | Moody's Investors Service

Moscow, July 06, 2011 -- Moody's Interfax Rating Agency has today withdrawn
Aaa.ru national scale rating of Bank Societe Generale Vostok (BSGV).

Please see ratings tab on the issuer/entity page on moodys.com for
information on Global Scale Rating.

RATINGS RATIONALE

Moody's decision to withdraw BSGV's ratings follows the completion of the
legal merger of BSGV into Rosbank on 01 July 2011, whereby BSGV ceased to
exist as a separate entity. The rating agency understands that the merged
Rosbank has assumed all the obligations of BSGV.

Please see ratings tab on the issuer/entity page on Moodys.com for the last
rating action and the rating history.

The principal methodologies used in rating BSGV were Moody's "Bank Financial
Strength Ratings: Global Methodology", published in February 2007,
"Incorporation of Joint-Default Analysis into Moody's Bank Ratings:
A Refined Methodology", published in March 2007, and "Mapping Moody's
National Scale Ratings to Global Scale Ratings" published in August 2010
which are available on www.moodys.com.

Headquartered in Moscow, Russia, BSGV reported -- under audited IFRS --
total assets of USD4.5 billion and total equity of USD441 million as at
31 December 2010. Over the same period, the bank recorded a net IFRS loss of
USD10.3 million.

Company: BSGV

Full company nameJoint-Stock company "Banque Societe Generale Vostok"
Country of riskRussia
IndustryBanks

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