Earnings release
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Sberbank of Russia and its subsidiaries Interim Condensed Consolidated Financial Statements and Report on Review 30 September 2025
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Interim Condensed Consolidated Financial Statements and Report on Review CONTENTS Report on Review of Interim Consolidated Financial Information Interim Condensed Consolidated Financial Statements Interim Consolidated Statement of Financial Position………………………………………………………………………… ............ 1 Interim Consolidated Statement of Profit or Loss ................................................................................................ 2 Interim Consolidated Statement of Comprehensive Income ............................................................................... 3 Interim Consolidated Statement of Changes in Equity ........................................................................................ 4 Interim Consolidated Statement of Cash Flows ................................................................................................... 5 Selected Notes to the Interim Condensed Consolidated Financial Statements 1 Introduction ................................................................................................................................................................. 7 2 Basis of Preparation and Significant Accounting Policies ............................................................................................ 8 3 Critical Accounting Estimates and Judgements in Applying Accounting Policies, Adoption of New or Revised Standards and Interpretations ..................................................................................................................................... 8 4 Loans and Advances to Customers ............................................................................................................................ 10 5 Securities ................................................................................................................................................................... 30 6 Securities Pledged under Repurchase Agreements ................................................................................................... 32 7 Due to Individuals and Corporate Customers ............................................................................................................ 33 8 Interest Income and Expense .................................................................................................................................... 34 9 Fee and Commission Income and Expense ................................................................................................................ 35 10 Staff and Administrative Expenses ............................................................................................................................ 35 11 Earnings per Share and Dividends ............................................................................................................................. 36 12 Other Reserves .......................................................................................................................................................... 37 13 Segment Analysis ....................................................................................................................................................... 38 14 Financial Risk Management ....................................................................................................................................... 44 15 Contingencies and Commitments .............................................................................................................................. 47 16 Fair Value Disclosures ................................................................................................................................................ 47 17 Related Party Transactions ........................................................................................................................................ 54 18 Capital Adequacy Ratio .............................................................................................................................................. 58 19 Subsequent Events .................................................................................................................................................... 59
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ООО «ЦАТР – аудиторские услуги» Россия, 115035, Москва Садовническая наб., 75 Тел.: +7 495 705 9700 +7 495 755 9700 Факс: +7 495 755 9701 ОГРН: 1027739707203 ИНН: 7709383532 ОКПО: 59002827 КПП: 770501001 TSATR – Audit Services LLC Sadovnicheskaya Nab., 75 Moscow, 115035, Russia Tel: +7 495 705 9700 +7 495 755 9700 Fax: +7 495 755 9701 www.b1.ru Report on Review of Interim Consolidated Financial Information To the Shareholders and Supervisory Board of Sberbank of Russia Introduction We have reviewed the accompanying interim condensed consolidated financial statements of Sberbank of Russia and its subsidiaries, which comprise the interim consolidated statement of financial position as at 30 September 2025, the interim consolidated statement of profit or loss and interim consolidated statement of comprehensive income for the three-month and nine-month periods then ended, interim consolidated statement of changes in equity and interim consolidated statement of cash flows for the nine-month period then ended, and selected explanatory notes (interim consolidated financial information). Management of Sberbank of Russia is responsible for the preparation and presentation of this interim consolidated financial information in accordance with IAS 34 Interim Financial Reporting. Our responsibility is to express a conclusion on this interim consolidated financial information based on our review. Scope of review We conducted our review in accordance with International Standard on Review Engagements 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity. A review of interim consolidated financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
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Interim Consolidated Statement of Financial Position The notes №1-19 are an integral part of these interim condensed consolidated financial statements. 1 in billions of Russian Roubles Note 30 September 2025 (unaudited) 31 December 2024 ASSETS Cash and cash equivalents 3,030.5 2,252.2 Mandatory cash balances with central banks 172.8 152.1 Due from banks 1,754.1 2,615.5 Derivative financial assets 160.7 174.9 Loans and advances to customers 4 46,088.2 43,841.9 Securities 5 8,641.3 7,017.7 Securities pledged under repurchase agreements 6 1,173.5 1,434.3 Investments in associates and joint ventures 66.9 57.9 Deferred tax asset 68.8 121.3 Premises, equipment and right-of-use assets 1,244.6 1,204.3 Other assets 2,072.4 1,983.0 TOTAL ASSETS 64,473.8 60,855.1 LIABILITIES Due to banks 3,563.6 4,332.7 Derivative financial liabilities and obligations to deliver securities 270.3 304.4 Due to individuals 7 30,320.9 27,821.6 Due to corporate customers 7 17,556.3 16,801.1 Debt securities in issue 563.6 512.6 Deferred tax liability 40.2 36.8 Liabilities related to insurance contracts 2,189.6 1,902.9 Other liabilities 1,582.2 1,559.5 Subordinated debt 519.7 410.0 TOTAL LIABILITIES 56,606.4 53,681.6 EQUITY Share capital and share premium 320.3 320.3 Perpetual subordinated loan 150.0 150.0 Treasury shares (39.7) (34.1) Other reserves 12 (276.8) (442.0) Retained earnings 7,718.6 7,181.5 Total equity attributable to shareholders of the Bank 7,872.4 7,175.7 Non-controlling interest (5.0) (2.2) TOTAL EQUITY 7,867.4 7,173.5 TOTAL LIABILITIES AND EQUITY 64,473.8 60,855.1 Approved for issue and signed on behalf of the Executive Board on 27 October 2025. ________________ _______________ Herman Gref, Taras Skvortsov, Chairman of the Executive Board and CEO Deputy Chairman of the Board
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Interim Consolidated Statement of Profit or Loss The notes №1-19 are an integral part of these interim condensed consolidated financial statements. 2 Nine months ended 30 September Three months ended 30 September (unaudited) in billions of Russian Roubles Note 2025 2024 2025 2024 Interest income calculated using the effective interest method 8 6,460.2 4,772.1 2,130.2 1,770.2 Other interest income 8 752.9 423.8 258.5 163.7 Interest expense calculated using the effective interest method 8 (4,318.2) (2,805.7) (1,386.8) (1,088.1) Other interest expense 8 (212.1) (114.8) (69.1) (49.0) Deposit insurance expenses 8 (115.0) (100.2) (39.2) (34.7) Net interest income 8 2,567.8 2,175.2 893.6 762.1 Net credit loss allowance charge for debt financial assets 4 (535.3) (283.3) (170.5) (113.3) Net interest income after credit loss allowance charge for debt financial assets 2,032.5 1,891.9 723.1 648.8 Fee and commission income 9 885.7 852.8 315.6 306.4 Fee and commission expense 9 (271.0) (241.0) (99.1) (88.2) Net gains / (losses) from non-derivative financial instruments at fair value through profit or loss 91.9 (103.6) (0.9) (89.8) Net gains from financial instruments at fair value through other comprehensive income 4.4 2.2 3.2 0.3 Net gains from derivatives, trading in foreign currencies, foreign exchange and precious metals accounts translation 35.6 35.2 29.0 43.2 Net (losses) / gains arising on initial recognition and modification of financial instruments measured at amortized cost (5.5) (3.5) (2.8) 0.2 Impairment of assets (1.7) (3.6) (3.6) (2.7) Net recovery of other provisions and allowances 25.8 2.8 0.6 12.2 Revenue of non-core business activities 404.6 381.6 135.2 133.6 Costs and other expenses of non-core business activities (517.0) (574.6) (171.5) (176.0) Insurance revenue 185.1 164.0 62.4 61.6 Insurance service expenses (75.3) (60.7) (27.6) (21.2) Insurance finance expenses (246.7) (37.1) (65.8) (18.9) Other net operating income 27.6 39.5 6.7 26.3 Operating income 2,576.0 2,345.9 904.5 835.8 Staff and administrative expenses 10 (863.6) (754.6) (308.6) (274.3) Profit before tax 1,712.4 1,591.3 595.9 561.5 Income tax expense (405.1) (364.1) (147.6) (150.4) Profit for the period 1,307.3 1,227.2 448.3 411.1 Attributable to: - shareholders of the Bank 1,308.4 1,228.0 449.8 411.7 - non-controlling interest (1.1) (0.8) (1.5) (0.6) Earnings per ordinary share based on profit for the period attributable to the shareholders of the Bank, basic and diluted 11 59.61 55.93 21.03 19.26 (expressed in RR per share)
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Interim Consolidated Statement of Comprehensive Income The notes №1-19 are an integral part of these interim condensed consolidated financial statements. 3 Nine months ended 30 September Three months ended 30 September (unaudited) in billions of Russian Roubles 2025 2024 2025 2024 Profit for the period 1,307.3 1,227.2 448.3 411.1 Other comprehensive income / (loss): Items to be reclassified to profit or loss in subsequent periods Debt financial instruments measured at fair value through other comprehensive income: - Net change in fair value, net of tax 198.0 (374.2) 5.7 (96.9) - Accumulated gains transferred to profit or loss upon disposal, net of tax (3.3) (1.7) (2.4) (0.2) Exchange differences on translating foreign operations (8.6) 0.7 1.5 4.1 Insurance finance (expenses) / income (25.4) 52.8 (5.2) 20.5 Total other comprehensive income / (loss) to be reclassified to profit or loss in subsequent periods 160.7 (322.4) (0.4) (72.5) Items that will not be reclassified to profit or loss in subsequent periods Income tax on components of other comprehensive income — (2.9) — (2.9) Actuarial remeasurements of defined benefit pension plans (1.4) 2.7 (0.2) 1.4 Total other comprehensive loss that will not be reclassified to profit or loss in subsequent periods (1.4) (0.2) (0.2) (1.5) Total other comprehensive income / (loss) 159.3 (322.6) (0.6) (74.0) Total comprehensive income for the period 1,466.6 904.6 447.7 337.1 Attributable to: - shareholders of the Bank 1,467.7 905.4 449.2 337.7 - non-controlling interest (1.1) (0.8) (1.5) (0.6)
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Interim Consolidated Statement of Changes in Equity The notes №1-19 are an integral part of these interim condensed consolidated financial statements. 4 Attributable to shareholders of the Bank in billions of Russian Roubles Note Share capital Share premium Perpetual subordinated loan Treasury shares Other reserves (Note 12) Retained earnings Total Non- controlling interest Total equity Balance as at 31 December 2023 87.7 232.6 150.0 (39.0) (195.9) 6,348.6 6,584.0 0.4 6,584.4 Changes in equity for the nine months ended 30 September 2024 (unaudited) Net result from treasury shares transactions — — — (13.9) — 3.1 (10.8) — (10.8) Dividends declared 11 — — — — — (744.1) (744.1) — (744.1) Transfer of revaluation reserve for office premises upon disposal or depreciation — — — — (1.3) 1.3 — — — Disposal of liabilities reserve for buyout of non-controlling interest — — — — 2.4 (0.9) 1.5 (1.5) — Net change in reserve for incentive programs for employees — — — 4.6 8.9 0.9 14.4 — 14.4 Other movements — — — — — 1.6 1.6 (0.3) 1.3 Profit / (loss) for the period — — — — — 1,228.0 1,228.0 (0.8) 1,227.2 Other comprehensive loss for the period — — — — (322.6) — (322.6) — (322.6) Total comprehensive (loss) / income for the period — — — — (322.6) 1,228.0 905.4 (0.8) 904.6 Balance as at 30 September 2024 (unaudited) 87.7 232.6 150.0 (48.3) (508.5) 6,838.5 6,752.0 (2.2) 6,749.8 Balance as at 31 December 2024 87.7 232.6 150.0 (34.1) (442.0) 7,181.5 7,175.7 (2.2) 7,173.5 Changes in equity for the nine months ended 30 September 2025 (unaudited) Net result from treasury shares transactions — — — (11.5) — 5.4 (6.1) — (6.1) Dividends declared 11 — — — — — (779.1) (779.1) — (779.1) Transfer of revaluation reserve for office premises upon disposal or depreciation — — — — (1.2) 1.2 — — — Disposal of liabilities reserve for buyout of non-controlling interest — — — — 2.3 (0.5) 1.8 (1.8) — Net change in reserve for incentive programs for employees — — — 5.9 4.8 1.7 12.4 — 12.4 Other movements — — — — — — — 0.1 0.1 Profit / (loss) for the period — — — — — 1,308.4 1,308.4 (1.1) 1,307.3 Other comprehensive income for the period — — — — 159.3 — 159.3 — 159.3 Total comprehensive income for the period — — — — 159.3 1,308.4 1,467.7 (1.1) 1,466.6 Balance as at 30 September 2025 (unaudited) 87.7 232.6 150.0 (39.7) (276.8) 7,718.6 7,872.4 (5.0) 7,867.4
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Interim Consolidated Statement of Cash Flows The notes №1-19 are an integral part of these interim condensed consolidated financial statements. 5 Nine months ended 30 September (unaudited) in billions of Russian Roubles Note 2025 2024 Cash flows from operating activities Interest income calculated using the effective interest method received 5,969.4 4,468.2 Other interest income received 723.6 419.6 Interest expense calculated using the effective interest method paid (4,206.2) (2,436.5) Other interest expense paid (208.0) (108.8) Deposit insurance expenses paid (111.3) (94.8) Fees and commissions received 869.0 851.1 Fees and commissions paid (235.5) (204.3) Net gains received / (losses paid) on non-derivative financial instruments at fair value through profit or loss 22.4 (2.0) Dividends received 19.0 14.3 Net gains received on financial instruments at fair value through other comprehensive income 4.3 2.2 Net gains received on derivatives, trading in foreign currencies and operations with precious metals 62.2 39.8 Revenue received from non-core business activities 377.9 395.6 Expenses paid on non-core business activities (523.5) (720.5) Insurance premiums received 861.7 678.1 Claims, acquisition costs and other related insurance services expenses paid (741.4) (250.9) Other net operating income received 24.7 35.4 Staff and administrative expenses paid (589.0) (516.7) Income tax paid (395.4) (209.8) Cash flows from operating activities before changes in operating assets and liabilities 1,923.9 2,360.0 Changes in operating assets and liabilities Net increase in mandatory cash balances with central banks (20.7) (74.9) Net decrease / (increase) in due from banks 834.9 (811.7) Net increase in loans and advances to customers (2,819.1) (5,194.9) Net increase in securities (1,083.8) (332.0) Net (decrease) / increase in other assets 99.2 (154.4) Net decrease in due to banks (702.5) (309.0) Net increase in due to individuals 2,655.8 3,163.6 Net increase in due to corporate customers 1,035.3 2,482.0 Net increase / (decrease) in debt securities in issue 35.4 (51.5) Net increase / (decrease) in obligations to deliver securities 22.1 (24.2) Net (decrease) / increase in other liabilities (137.0) 190.2 Net cash from operating activities 1,843.5 1,243.2
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Interim Consolidated Statement of Cash Flows (continued) The notes №1-19 are an integral part of these interim condensed consolidated financial statements. 6 Nine months ended 30 September (unaudited) in billions of Russian Roubles Note 2025 2024 Cash flows from investing activities Investments in development and acquisition of premises, equipment and intangible assets, including advances transferred and prepayments (342.7) (325.8) Proceeds from disposal of premises, equipment and intangible assets 6.9 5.6 Proceeds from disposal of investment property — 1.6 Other movements (5.5) (19.0) Net cash used in investing activities (341.3) (337.6) Cash flows from financing activities Funds received from subordinated debt 94.2 — Acquisition of non-controlling interests in subsidiaries (3.0) (2.8) Purchase of treasury shares (169.4) (205.5) Proceeds from disposal of treasury shares 165.1 200.1 Cash outflow to settle principal amount of lease liabilities (36.7) (39.8) Payments to shareholders 11 (727.8) (703.4) Net cash used in financing activities (677.6) (751.4) Effect of exchange rate changes on cash and cash equivalents (46.3) 8.8 Net increase in cash and cash equivalents 778.3 163.0 Cash and cash equivalents at the beginning of the period 2,252.2 2,386.6 Cash and cash equivalents at the end of the period 3,030.5 2,549.6
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 7 1 Introduction These interim condensed consolidated financial statements of Sberbank of Russia (Sberbank, the “Bank”) and its subsidiaries (together referred to as the “Group”) have been prepared in accordance with IAS 34 “Interim Financial Reporting” for the nine months ended 30 September 2025. The Bank is a public joint-stock commercial bank established in 1841 and operating in various forms since then. The Bank was incorporated and is domiciled in the Russian Federation. The Bank’s principal shareholder and the ultimate controlling party is the Russian Federation represented by the Government of the Russian Federation (through the Ministry of Finance of the Russian Federation (the “Ministry of Finance”)) which owns 52.3% o f ordinary shares or 50.0% plus 1 share of the issued and outstanding ordinary and preference shares of the Bank. The Supervisory Board of the Bank includes representatives from the Bank, the Government and independent directors. The Bank operates under a general banking license issued by the Bank of Russia since 1991. In addition, the Bank holds licenses required for trading and holding securities and engaging in other securities-related activities, including acting as a broker, a dealer, a custodian. Th e Bank is regulated and supervised by the Bank of Russia as a united regulator for banking, insurance and financial markets activities in the Russian Federation. The Group’s banks / companies operate under the banking / companies regulatory regimes of their respective countries. The Group’s principal business activity is corporate and retail banking. This includes, but is not limited to, deposit taking and commercial lending, support of certain clients’ export / import transactions, foreign exchange, securities trading, and trading in derivative financial instruments on the financial markets of the countries where the companies of the Group are located. The Group’s operations are conducted primarily in the Russian Federation . As at 30 September 2025 the Group conducts its business in Russia through Sberbank with its network of 11 (31 December 2024 : 1 1) regional head offices, 75 (31 December 2024: 75) branches and 10,915 (31 December 2024: 11,524) banking offices, and through principal subsidiaries located in Russia. As at 30 September 2025 the list of principal subsidiaries of the Bank did not change compared to 31 December 2024. The actual headcount of the Group’s full-time employees as at 30 September 2025 was 294,578 (31 December 2024: 308,092). Registered address and place of business. The Bank’s registered address is: Vavilova str., 19, Moscow, Russian Federation. Presentation currency. These interim condensed consolidated financial statements are presented in Russian Roubles ("RR"). All amounts are expressed in RR billions, unless otherwise stated. At 30 September 2025 and 31 December 2024 the principal rates of exchange used for translating foreign currency monetary balances and functional currency into the presentation currency were as follows: 30 September 2025 31 December 2024 /RR /BYN /RR /BYN RR/ 1 0.037 1 0.034 USD/ 82.868 3.025 101.680 3.430 EUR/ 97.141 3.546 106.103 3.579 CNY/ 11.598 0.423 13.427 0.453
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 8 1 Introduction (continued) The influence of the geopolitical environment. For the nine months of 2025 sanctions pressure, caused by conflict with Ukraine and escalation of geopolitical tensions, remains. Inflation during the nine months of 2025 remained high. Cons umer price index in creased to 8.0 %1 in September 2025 in comparison with September 2024. During the third quarter 2025, the Bank of Russia gradually reduced the key rate to 17.0% 2 compated to 20.0%2 by the end of the June 2025 and 21.0% 2 by the end of 2024. At the same time the Bank of Russia continued to maintain tight monetary conditions in order to reduce i nflation. The average exchange rate was RR 84.92 per US dollar during the nine months of 2025 compared to RR 99.62 per US dollar in the fourth quarter of 2024. The strengthening is related to foreign currency sale on domestic market by the Bank of Russia in particular. The events mentioned above require the Group's business to adapt to a changing operating environment characterized by high level of uncertainty and having a significant impact on the Group and its operations. The actual future operating environment and its impact on the Group and its operations can differ from the current expectations of the Management. The Management of the Group is continuing to assess the possible impact of the events mentioned above and taking all the necessary measures to ensure the sustainability of the Group's operations. 2 Basis of Preparation and Significant Accounting Policies Basis of Preparation. These interim condensed consolidated financial statements have been prepared in accordance with IAS 34 “Interim Financial Reporting” and should be read in conjunction with the annual consolidated financial statements of the Group for the year ended 31 December 2024. These interim condensed consolidated financial statements do not contain all the explanatory notes as required for a full set of consolidated financial statements. The accounting policies and methods of computation applied in the preparation of these interim condensed consolidated financial statements are consistent with those disclosed in the annual consolidated financial statements of the Group for the year ended 31 December 2024 in the Note “Basis of preparation and significant accounting policies”, except for income tax expense which is recognized in these interim condensed consolidated financial statements based on Management’s best estimates of the weighted average income tax rate amended for the full financial year. 3 Critical Accounting Estimates and Judgements in Applying Accounting Policies , Adoption of New or Revised Standards and Interpretations Management’s estimates and judgements. Judgements and critical estimates made by Management in the process of applying the accounting policies were consistent with those disclosed in the annual consolidated financial statements for the year ended 31 December 2024. Management has not identified new areas of judgement or critical estimates except for those disclosed in this Note below. Measurement of expected credit loss (“ECL”) allowance. The measurement of expected credit loss allowance for financial assets measured at amortized cost and financial assets measured at fair value through other comprehensive income (FVOCI) is an area that requires the use of complex models and significant assumptions about future economic conditions and credit behavior. Based on the available information the Group makes estimates and judg ements, which are constantly analys ed based on statistical data, actual and forecast information, as well as Management experience, including expectations regarding future events that are reasonable in current circumstances. 1 Rosstat data 2 Bank of Russia data
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 9 3 Critical Accounting Estimates and Judgements in Applying Accounting Policies, Adoption of New or Revised Standards and Interpretations (continued) In the first quarter of 2025 for loans to corporate customers the Group switched to using LGD that considers loss given default model over the entire horizon of the economic cycle and updated LGD model for the default borrowers of non-project profile which resulted in a decrease of expected credit loss allowance in the amount of RR 23.9 billion and decrease of ex pected credit loss allowance for guarantees and commitments to extend credit to corporate customers in the amount of RR 4.6 billion. The Group also applied new credit conversion factor model for loans to corporate customers which resulted in a decrease of expected credit loss allowance for guarantees and commitments to extend credit to corporate customers in the amount of RR 7.4 billion. For small and micro business sub-portfolio the Group implemented new PD and LGD models which resulted in a decrease of expected credit loss allowance in the amount of RR 23.0 billion in the first quarter of 2025. In the first quarter of 2025 the Group applied new macro-coefficients for retail loans portfolio which resulted in a decrease of expected credit loss allowance in the amount of RR 21.2 billion and decrease of expected credit loss allowance for commitments to extend credit in the amount of RR 0.4 billion. Also the calibrations of probability of default models for consumer loans, mortgage loans and credit cards were updated which resulted in an increase of expected credit loss allowance in the amount of RR 7.0 billion and increase of expected credit loss allowance for commitments to extend credit in the amount of RR 2.9 billion. In the second quarter of 2025 the Group applied updated macro-coefficients for retail loans portfolio which resulted in a decrease of expected credit loss allowance in the amount of RR 8.3 billion. The calibrations of probability of default models and loss given default model s were updated which resulted in a n increase of expected credit loss allowance in the amount of RR 15.0 billion and increase of expected credit loss allowance for commitments to extend credit in the amount of RR 2.6 billion. The Group also implemented new PD lifetime model for mortgage loans which resulted in a decrease of expected credit loss allowance in the amount of R R 3.8 billion and new PD model for car loans which resulted in a n increase of expected credit loss allowance in the amount of RR 0.9 billion. The recovery horizon was updated for default loans which resulted in a decrease of expected credit loss allowance in the amount of RR 4.9 billion. In the third quarter of 2025 the Group updated the calibrations of probability of default models for all products of retail loans portfolio which resulted in an increase of expected credit loss allowance in the amount of RR 18.4 billion and increase of expected credit loss allowance for commitments to extend credit in the amount of RR 1.9 billion. The Group also updated calculation approach to the loss given default model for mortgage and consumer loans which resulted in a decrease of expected credit loss allowance in the amount of RR 41.6 billion and implemented allowance for future default restructurings for mortgage, consumer and car loans which resulted in an increase of expected credit loss allowance in the amount of RR 24.2 billion. In the third quarter of 2025 the Group updated the definition of default and the calibrations of probability of default models for small and micro business portfolio which resulted in an increase of expected credit loss allowance in the amount of RR 9.3 billion. Also the new definition of default was implemented for corporate borrowers, in accordance with changed regulatory requirements, which resulted in an increase of expected credit loss allowance in the amount of RR 0.9 billion. Also in th e third quarter of 2025 new LGD models were implemented for the segments of project financing and financing of residential real estate which resulted, with regard to compensation measures, in a decrease of expected credit loss allowance in the amount of RR 7.1 billion and decrease of expected credit loss allowance for commitments to extend credit in the amount of RR 0.6 billion. The Group switched to using LGD adjusted for the time period during which the client was in default for factoring products which resulted in a decrease of expected credit loss allowance in the amount of RR 2.3 billion. Fair value of financial instruments. In the third quarter of 2025 the Group implemented new LGD models for the segments of project financing and financing of residential real estate of loans and advances to customers measured at fair value through profit or loss. Refer to Note 4. Adoption of New or Revised Standards and Interpretations. Amendments to IAS 21 “Lack of exchangeability with other currencies” became effective for the Group from 1 January 2025, but did not have any material impact on the Consolidated financial statement of the Group.
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 10 4 Loans and Advances to Customers in billions of Russian Roubles 30 September 2025 (unaudited) 31 December 2024 Loans and advances to customers measured at amortized cost 42,501.4 40,921.3 Loans and advances to customers measured at fair value through profit or loss 3,586.8 2,920.6 Total loans and advances to customers 46,088.2 43,841.9 Loans and advances to customers measured at amortized cost 30 September 2025 (unaudited) in billions of Russian Roubles Gross carrying amount Credit loss allowance Amortized cost Commercial loans to legal entities 15,956.0 (761.8) 15,194.2 Project finance loans to legal entities 10,393.0 (446.4) 9,946.6 Mortgage loans to individuals 11,725.3 (115.1) 11,610.2 Consumer and other loans to individuals 3,589.5 (628.7) 2,960.8 Credit cards and overdrafts to individuals 2,536.2 (356.3) 2,179.9 Car loans to individuals 645.1 (35.4) 609.7 Total loans and advances to customers measured at amortized cost 44,845.1 (2,343.7) 42,501.4 31 December 2024 in billions of Russian Roubles Gross carrying amount Credit loss allowance Amortized cost Commercial loans to legal entities 15,813.3 (672.6) 15,140.7 Project finance loans to legal entities 9,003.5 (428.7) 8,574.8 Mortgage loans to individuals 11,153.5 (76.8) 11,076.7 Consumer and other loans to individuals 4,016.7 (522.6) 3,494.1 Credit cards and overdrafts to individuals 2,342.2 (280.8) 2,061.4 Car loans to individuals 602.2 (28.6) 573.6 Total loans and advances to customers measured at amortized cost 42,931.4 (2,010.1) 40,921.3
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 11 4 Loans and Advances to Customers (continued) The tables below show the credit quality analysis of the Group’s loans and advances to customers measured at amortized cost as at 30 September 2025 and 31 December 2024 . The credit quality analysis of loans in the table below is based on the credit risk grades developed internally by the Group: 30 September 2025 (unaudited) in billions of Russian Roubles 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Commercial loans to legal entities Minimum credit risk 6,785.9 1.3 — — 6,787.2 Low credit risk 6,551.8 72.1 — — 6,623.9 Moderate credit risk 922.8 558.1 — 21.8 1,502.7 High credit risk 2.7 237.7 — — 240.4 Default — — 801.5 0.3 801.8 Gross carrying amount of commercial loans to legal entities 14,263.2 869.2 801.5 22.1 15,956.0 Credit loss allowance (73.0) (162.3) (524.5) (2.0) (761.8) Total commercial loans to legal entities 14,190.2 706.9 277.0 20.1 15,194.2 31 December 2024 in billions of Russian Roubles 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Commercial loans to legal entities Minimum credit risk 7,126.3 — — — 7,126.3 Low credit risk 6,492.8 79.9 — — 6,572.7 Moderate credit risk 788.7 520.2 — 22.3 1,331.2 High credit risk 5.2 178.2 — — 183.4 Default — — 599.1 0.6 599.7 Gross carrying amount of commercial loans to legal entities 14,413.0 778.3 599.1 22.9 15,813.3 Credit loss allowance (58.0) (164.1) (448.3) (2.2) (672.6) Total commercial loans to legal entities 14,355.0 614.2 150.8 20.7 15,140.7
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 12 4 Loans and Advances to Customers (continued) (unaudited) in billions of Russian Roubles 30 September 2025 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Project finance loans to legal entities Minimum credit risk 1,799.8 0.8 — — 1,800.6 Low credit risk 5,782.6 152.0 — — 5,934.6 Moderate credit risk 1,920.7 327.8 — 0.1 2,248.6 High credit risk 11.6 164.6 — — 176.2 Default — — 228.6 4.4 233.0 Gross carrying amount of project finance loans to legal entities 9,514.7 645.2 228.6 4.5 10,393.0 Credit loss allowance (185.8) (126.7) (129.5) (4.4) (446.4) Total project finance loans to legal entities 9,328.9 518.5 99.1 0.1 9,946.6 in billions of Russian Roubles 31 December 2024 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Project finance loans to legal entities Minimum credit risk 1,501.5 4.3 — — 1,505.8 Low credit risk 5,330.3 145.2 — — 5,475.5 Moderate credit risk 1,454.2 231.9 — 0.1 1,686.2 High credit risk 8.9 116.3 — — 125.2 Default — — 206.3 4.5 210.8 Gross carrying amount of project finance loans to legal entities 8,294.9 497.7 206.3 4.6 9,003.5 Credit loss allowance (173.8) (127.3) (123.2) (4.4) (428.7) Total project finance loans to legal entities 8,121.1 370.4 83.1 0.2 8,574.8
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 13 4 Loans and Advances to Customers (continued) 30 September 2025 (unaudited) in billions of Russian Roubles 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Mortgage loans to individuals Minimum credit risk 8,053.1 42.1 — — 8,095.2 Low credit risk 2,731.6 252.0 — — 2,983.6 Moderate credit risk 100.5 318.4 — — 418.9 High credit risk — 45.4 — — 45.4 Default — — 182.2 — 182.2 Gross carrying amount of mortgage loans to individuals 10,885.2 657.9 182.2 — 11,725.3 Credit loss allowance (13.0) (13.0) (89.1) — (115.1) Total mortgage loans to individuals 10,872.2 644.9 93.1 — 11,610.2 31 December 2024 in billions of Russian Roubles 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Mortgage loans to individuals Minimum credit risk 7,757.7 39.3 — — 7,797.0 Low credit risk 2,691.6 213.9 — — 2,905.5 Moderate credit risk 82.1 235.5 — — 317.6 High credit risk — 31.3 — — 31.3 Default — — 102.1 — 102.1 Gross carrying amount of mortgage loans to individuals 10,531.4 520.0 102.1 — 11,153.5 Credit loss allowance (9.8) (12.5) (54.5) — (76.8) Total mortgage loans to individuals 10,521.6 507.5 47.6 — 11,076.7
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 14 4 Loans and Advances to Customers (continued) (unaudited) in billions of Russian Roubles 30 September 2025 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Consumer and other loans to individuals Minimum credit risk 400.3 0.8 — — 401.1 Low credit risk 1,822.5 46.2 — — 1,868.7 Moderate credit risk 457.1 91.9 — — 549.0 High credit risk 51.7 113.8 — — 165.5 Default — — 603.9 1.3 605.2 Gross carrying amount of consumer and other loans to individuals 2,731.6 252.7 603.9 1.3 3,589.5 Credit loss allowance (66.8) (42.9) (518.9) (0.1) (628.7) Total consumer and other loans to individuals 2,664.8 209.8 85.0 1.2 2,960.8 in billions of Russian Roubles 31 December 2024 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Consumer and other loans to individuals Minimum credit risk 450.7 0.8 — — 451.5 Low credit risk 2,168.3 47.5 — — 2,215.8 Moderate credit risk 626.6 89.9 — — 716.5 High credit risk 79.8 116.8 — — 196.6 Default — — 434.2 2.1 436.3 Gross carrying amount of consumer and other loans to individuals 3,325.4 255.0 434.2 2.1 4,016.7 Credit loss allowance (89.8) (54.9) (377.8) (0.1) (522.6) Total consumer and other loans to individuals 3,235.6 200.1 56.4 2.0 3,494.1
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 15 4 Loans and Advances to Customers (continued) (unaudited) in billions of Russian Roubles 30 September 2025 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Credit cards and overdrafts to individuals Minimum credit risk 525.6 — — — 525.6 Low credit risk 1,390.1 — — — 1,390.1 Moderate credit risk 133.6 108.3 — — 241.9 High credit risk — 86.7 — — 86.7 Default — — 291.9 — 291.9 Gross carrying amount of credit cards and overdrafts to individuals 2,049.3 195.0 291.9 — 2,536.2 Credit loss allowance (59.1) (78.8) (218.4) — (356.3) Total credit cards and overdrafts to individuals 1,990.2 116.2 73.5 — 2,179.9 in billions of Russian Roubles 31 December 2024 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Credit cards and overdrafts to individuals Minimum credit risk 451.6 — — — 451.6 Low credit risk 1,404.6 — — — 1,404.6 Moderate credit risk 143.7 88.8 — — 232.5 High credit risk — 41.2 — — 41.2 Default — — 212.3 — 212.3 Gross carrying amount of credit cards and overdrafts to individuals 1,999.9 130.0 212.3 — 2,342.2 Credit loss allowance (50.9) (50.0) (179.9) — (280.8) Total credit cards and overdrafts to individuals 1,949.0 80.0 32.4 — 2,061.4
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 16 4 Loans and Advances to Customers (continued) (unaudited) in billions of Russian Roubles 30 September 2025 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Car loans to individuals Minimum credit risk 24.2 — — — 24.2 Low credit risk 428.5 — — — 428.5 Moderate credit risk 146.4 0.6 — — 147.0 High credit risk 7.1 7.9 — — 15.0 Default — — 30.4 — 30.4 Gross carrying amount of car loans to individuals 606.2 8.5 30.4 — 645.1 Credit loss allowance (12.2) (2.7) (20.5) — (35.4) Total car loans to individuals 594.0 5.8 9.9 — 609.7 in billions of Russian Roubles 31 December 2024 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Car loans to individuals Minimum credit risk 11.2 — — — 11.2 Low credit risk 549.6 — — — 549.6 Moderate credit risk 4.7 2.8 — — 7.5 High credit risk 1.6 8.9 — — 10.5 Default — — 23.4 — 23.4 Gross carrying amount of car loans to individuals 567.1 11.7 23.4 — 602.2 Credit loss allowance (7.9) (4.7) (16.0) — (28.6) Total car loans to individuals 559.2 7.0 7.4 — 573.6
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 17 4 Loans and Advances to Customers (continued) The following tables explain the changes in the credit loss allowance of loans and advances to customers measured at amortized cost between the beginning and the end of the reporting periods: Credit loss allowance (unaudited) in billions of Russian Roubles 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Total loans and advances to customers measured at amortized cost At 1 January 2025 390.2 413.5 1,199.7 6.7 2,010.1 Movements with impact on credit loss allowance charge for the period: Transfers and corresponding remeasurement of credit loss allowances: - to 12-month ECL 27.1 (74.1) (10.9) — (57.9) - to lifetime ECL not credit-impaired (78.0) 374.1 (10.7) — 285.4 - to lifetime ECL credit-impaired (19.2) (269.1) 644.6 — 356.3 Changes to ECL measurement model assumptions, estimates and inputs (1.9) (18.0) (40.5) — (60.4) Net other remeasurement of credit loss allowance 94.4 23.4 (106.6) (0.2) 11.0 Total movements with impact on credit loss allowance charge for the period 22.4 36.3 475.9 (0.2) 534.4 Movements without impact on credit loss allowance charge for the period: Write-offs — — (236.1) — (236.1) Foreign exchange differences and exchange differences on translating foreign operations (2.4) (23.0) (9.4) — (34.8) Remeasurement of credit loss allowance to reflect all contractually receivable interest — — 65.5 — 65.5 Other movements (0.3) (0.4) 5.3 — 4.6 Total movements without impact on credit loss allowance charge for the period (2.7) (23.4) (174.7) — (200.8) At 30 September 2025 409.9 426.4 1,500.9 6.5 2,343.7 Net other remeasurement of credit loss allowance includes movements due to net remeasurement of credit loss allowance within the same stage, new originated or purchased loans and impact of other increases in gross carrying amount, loans derecognized during the period and impact of other decreas es in gross carrying amount, and other movements. Credit loss allowance (unaudited) in billions of Russian Roubles 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Total loans and advances to customers measured at amortized cost At 30 June 2025 375.2 453.3 1,406.1 6.4 2,241.0 Movements with impact on credit loss allowance charge for the period: Transfers and corresponding remeasurement of credit loss allowances: - to 12-month ECL 11.2 (32.3) (6.0) — (27.1) - to lifetime ECL not credit-impaired (19.7) 99.8 (3.8) — 76.3 - to lifetime ECL credit-impaired (7.5) (102.8) 257.5 — 147.2 Changes to ECL measurement model assumptions, estimates and inputs 5.5 3.2 (6.9) — 1.8 Net other remeasurement of credit loss allowance 44.9 0.2 (72.8) 0.1 (27.6) Total movements with impact on credit loss allowance charge for the period 34.4 (31.9) 168.0 0.1 170.6 Movements without impact on credit loss allowance charge for the period: Write-offs — — (104.1) — (104.1) Foreign exchange differences and exchange differences on translating foreign operations 0.4 5.1 3.0 — 8.5 Remeasurement of credit loss allowance to reflect all contractually receivable interest — — 25.3 — 25.3 Other movements (0.1) (0.1) 2.6 — 2.4 Total movements without impact on credit loss allowance charge for the period 0.3 5.0 (73.2) — (67.9) At 30 September 2025 409.9 426.4 1,500.9 6.5 2,343.7
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 18 4 Loans and Advances to Customers (continued) Credit loss allowance (unaudited) in billions of Russian Roubles 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Total loans and advances to customers measured at amortized cost At 1 January 2024 351.7 502.5 957.1 11.7 1,823.0 Movements with impact on credit loss allowance charge for the period: Transfers and corresponding remeasurement of credit loss allowances: - to 12-month ECL 19.6 (72.7) (5.5) — (58.6) - to lifetime ECL not credit-impaired (60.5) 296.0 (6.4) — 229.1 - to lifetime ECL credit-impaired (11.9) (159.6) 324.1 — 152.6 Changes to ECL measurement model assumptions, estimates and inputs (49.0) (59.1) (22.7) — (130.8) Net other remeasurement of credit loss allowance 114.4 27.6 (40.8) (5.1) 96.1 Total movements with impact on credit loss allowance charge for the period 12.6 32.2 248.7 (5.1) 288.4 Movements without impact on credit loss allowance charge for the period: Write-offs — — (140.1) — (140.1) Foreign exchange differences and exchange differences on translating foreign operations 2.1 3.8 2.2 — 8.1 Remeasurement of credit loss allowance to reflect all contractually receivable interest — — 43.8 — 43.8 Other movements (0.3) (131.3) 5.6 0.3 (125.7) Total movements without impact on credit loss allowance charge for the period 1.8 (127.5) (88.5) 0.3 (213.9) At 30 September 2024 366.1 407.2 1,117.3 6.9 1,897.5 Credit loss allowance (unaudited) in billions of Russian Roubles 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Total loans and advances to customers measured at amortized cost At 30 June 2024 372.2 385.2 1,026.3 11.7 1,795.4 Movements with impact on credit loss allowance charge for the period: Transfers and corresponding remeasurement of credit loss allowances: - to 12-month ECL 6.0 (22.6) (3.0) — (19.6) - to lifetime ECL not credit-impaired (24.8) 116.1 (3.7) — 87.6 - to lifetime ECL credit-impaired (5.7) (57.5) 129.4 — 66.2 Changes to ECL measurement model assumptions, estimates and inputs (41.4) (18.3) (6.1) — (65.8) Net other remeasurement of credit loss allowance 56.8 (5.0) (2.4) (4.9) 44.5 Total movements with impact on credit loss allowance charge for the period (9.1) 12.7 114.2 (4.9) 112.9 Movements without impact on credit loss allowance charge for the period: Write-offs — — (46.6) — (46.6) Foreign exchange differences and exchange differences on translating foreign operations 3.0 9.4 5.3 — 17.7 Remeasurement of credit loss allowance to reflect all contractually receivable interest — — 16.5 — 16.5 Other movements — (0.1) 1.6 0.1 1.6 Total movements without impact on credit loss allowance charge for the period 3.0 9.3 (23.2) 0.1 (10.8) At 30 September 2024 366.1 407.2 1,117.3 6.9 1,897.5
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 19 4 Loans and Advances to Customers (continued) Credit loss allowance (unaudited) in billions of Russian Roubles 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Loans and advances to legal entities measured at amortized cost At 1 January 2025 231.8 291.4 571.5 6.6 1,101.3 Movements with impact on credit loss allowance charge for the period: Transfers and corresponding remeasurement of credit loss allowances: - to 12-month ECL 8.6 (19.0) (5.0) — (15.4) - to lifetime ECL not credit-impaired (33.8) 136.6 (4.9) — 97.9 - to lifetime ECL credit-impaired (3.2) (84.9) 180.6 — 92.5 Changes to ECL measurement model assumptions, estimates and inputs (16.4) (6.4) (23.3) — (46.1) Net other remeasurement of credit loss allowance 74.5 (5.3) (28.1) (0.2) 40.9 Total movements with impact on credit loss allowance charge for the period 29.7 21.0 119.3 (0.2) 169.8 Movements without impact on credit loss allowance charge for the period: Write-offs — — (40.8) — (40.8) Foreign exchange differences and exchange differences on translating foreign operations (2.4) (23.0) (9.4) — (34.8) Remeasurement of credit loss allowance to reflect all contractually receivable interest — — 16.0 — 16.0 Other movements (0.3) (0.4) (2.6) — (3.3) Total movements without impact on credit loss allowance charge for the period (2.7) (23.4) (36.8) — (62.9) At 30 September 2025 258.8 289.0 654.0 6.4 1,208.2 Credit loss allowance (unaudited) in billions of Russian Roubles 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Loans and advances to legal entities measured at amortized cost At 30 June 2025 217.5 288.7 624.6 6.3 1,137.1 Movements with impact on credit loss allowance charge for the period: Transfers and corresponding remeasurement of credit loss allowances: - to 12-month ECL 4.1 (9.8) (3.4) — (9.1) - to lifetime ECL not credit-impaired (7.9) 34.1 (1.0) — 25.2 - to lifetime ECL credit-impaired (0.2) (35.6) 65.7 — 29.9 Changes to ECL measurement model assumptions, estimates and inputs 1.1 6.9 (7.2) — 0.8 Net other remeasurement of credit loss allowance 43.9 (0.3) (17.1) 0.1 26.6 Total movements with impact on credit loss allowance charge for the period 41.0 (4.7) 37.0 0.1 73.4 Movements without impact on credit loss allowance charge for the period: Write-offs — — (16.6) — (16.6) Foreign exchange differences and exchange differences on translating foreign operations 0.4 5.1 3.0 — 8.5 Remeasurement of credit loss allowance to reflect all contractually receivable interest — — 6.7 — 6.7 Other movements (0.1) (0.1) (0.7) — (0.9) Total movements without impact on credit loss allowance charge for the period 0.3 5.0 (7.6) — (2.3) At 30 September 2025 258.8 289.0 654.0 6.4 1,208.2
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 20 4 Loans and Advances to Customers (continued) Credit loss allowance (unaudited) in billions of Russian Roubles 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Loans and advances to legal entities measured at amortized cost At 1 January 2024 197.4 407.0 490.7 11.6 1,106.7 Movements with impact on credit loss allowance charge for the period: Transfers and corresponding remeasurement of credit loss allowances: - to 12-month ECL 6.4 (25.8) (3.0) — (22.4) - to lifetime ECL not credit-impaired (23.9) 94.3 (3.6) — 66.8 - to lifetime ECL credit-impaired (2.7) (61.2) 114.0 — 50.1 Changes to ECL measurement model assumptions, estimates and inputs (9.4) (24.6) (6.1) — (40.1) Net other remeasurement of credit loss allowance 14.7 (1.0) (14.7) (5.1) (6.1) Total movements with impact on credit loss allowance charge for the period (14.9) (18.3) 86.6 (5.1) 48.3 Movements without impact on credit loss allowance charge for the period: Write-offs — — (25.2) — (25.2) Foreign exchange differences and exchange differences on translating foreign operations 2.1 3.8 2.2 — 8.1 Remeasurement of credit loss allowance to reflect all contractually receivable interest — — 18.7 — 18.7 Other movements (0.3) (131.3) (0.5) 0.2 (131.9) Total movements without impact on credit loss allowance charge for the period 1.8 (127.5) (4.8) 0.2 (130.3) At 30 September 2024 184.3 261.2 572.5 6.7 1,024.7 Credit loss allowance (unaudited) in billions of Russian Roubles 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Loans and advances to legal entities measured at amortized cost At 30 June 2024 195.6 270.8 549.3 11.5 1,027.2 Movements with impact on credit loss allowance charge for the period: Transfers and corresponding remeasurement of credit loss allowances: - to 12-month ECL 1.4 (6.8) (1.9) — (7.3) - to lifetime ECL not credit-impaired (9.9) 30.9 (2.8) — 18.2 - to lifetime ECL credit-impaired (0.8) (16.5) 34.7 — 17.4 Changes to ECL measurement model assumptions, estimates and inputs (15.2) (8.4) (6.1) — (29.7) Net other remeasurement of credit loss allowance 10.2 (18.1) (5.1) (4.9) (17.9) Total movements with impact on credit loss allowance charge for the period (14.3) (18.9) 18.8 (4.9) (19.3) Movements without impact on credit loss allowance charge for the period: Write-offs — — (7.9) — (7.9) Foreign exchange differences and exchange differences on translating foreign operations 3.0 9.4 5.3 — 17.7 Remeasurement of credit loss allowance to reflect all contractually receivable interest — — 7.4 — 7.4 Other movements — (0.1) (0.4) 0.1 (0.4) Total movements without impact on credit loss allowance charge for the period 3.0 9.3 4.4 0.1 16.8 At 30 September 2024 184.3 261.2 572.5 6.7 1,024.7
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 21 4 Loans and Advances to Customers (continued) Credit loss allowance (unaudited) in billions of Russian Roubles 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Total Mortgage loans to individuals measured at amortized cost At 1 January 2025 9.8 12.5 54.5 76.8 Movements with impact on credit loss allowance charge for the period: Transfers and corresponding remeasurement of credit loss allowances: - to 12-month ECL 1.2 (6.4) (1.3) (6.5) - to lifetime ECL not credit-impaired (1.9) 14.4 (1.8) 10.7 - to lifetime ECL credit-impaired (0.2) (6.6) 51.1 44.3 Changes to ECL measurement model assumptions, estimates and inputs 1.2 (4.6) (5.0) (8.4) Net other remeasurement of credit loss allowance 2.9 3.7 (10.3) (3.7) Total movements with impact on credit loss allowance charge for the period 3.2 0.5 32.7 36.4 Movements without impact on credit loss allowance charge for the period: Write-offs — — (1.7) (1.7) Remeasurement of credit loss allowance to reflect all contractually receivable interest — — 3.5 3.5 Other movements — — 0.1 0.1 Total movements without impact on credit loss allowance charge for the period — — 1.9 1.9 At 30 September 2025 13.0 13.0 89.1 115.1 Credit loss allowance (unaudited) in billions of Russian Roubles 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Total Mortgage loans to individuals measured at amortized cost At 30 June 2025 17.5 19.0 81.4 117.9 Movements with impact on credit loss allowance charge for the period: Transfers and corresponding remeasurement of credit loss allowances: - to 12-month ECL 0.4 (2.8) (0.7) (3.1) - to lifetime ECL not credit-impaired (0.8) 3.8 (1.0) 2.0 - to lifetime ECL credit-impaired (0.1) (2.9) 21.6 18.6 Changes to ECL measurement model assumptions, estimates and inputs (4.8) (6.0) (5.7) (16.5) Net other remeasurement of credit loss allowance 0.8 1.9 (6.7) (4.0) Total movements with impact on credit loss allowance charge for the period (4.5) (6.0) 7.5 (3.0) Movements without impact on credit loss allowance charge for the period: Write-offs — — (0.6) (0.6) Remeasurement of credit loss allowance to reflect all contractually receivable interest — — 0.8 0.8 Total movements without impact on credit loss allowance charge for the period — — 0.2 0.2 At 30 September 2025 13.0 13.0 89.1 115.1
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 22 4 Loans and Advances to Customers (continued) Credit loss allowance (unaudited) in billions of Russian Roubles 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Total Mortgage loans to individuals measured at amortized cost At 1 January 2024 13.6 26.8 35.0 75.4 Movements with impact on credit loss allowance charge for the period: Transfers and corresponding remeasurement of credit loss allowances: - to 12-month ECL 0.6 (6.9) (0.6) (6.9) - to lifetime ECL not credit-impaired (1.1) 8.9 (0.8) 7.0 - to lifetime ECL credit-impaired — (3.3) 18.7 15.4 Changes to ECL measurement model assumptions, estimates and inputs (7.1) (23.9) (5.1) (36.1) Net other remeasurement of credit loss allowance 3.2 9.6 (3.8) 9.0 Total movements with impact on credit loss allowance charge for the period (4.4) (15.6) 8.4 (11.6) Movements without impact on credit loss allowance charge for the period: Write-offs — — (1.2) (1.2) Remeasurement of credit loss allowance to reflect all contractually receivable interest — — 2.9 2.9 Other movements — — 0.1 0.1 Total movements without impact on credit loss allowance charge for the period — — 1.8 1.8 At 30 September 2024 9.2 11.2 45.2 65.6 Credit loss allowance (unaudited) in billions of Russian Roubles 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Total Mortgage loans to individuals measured at amortized cost At 30 June 2024 8.5 8.8 35.5 52.8 Movements with impact on credit loss allowance charge for the period: Transfers and corresponding remeasurement of credit loss allowances: - to 12-month ECL 0.2 (1.2) (0.3) (1.3) - to lifetime ECL not credit-impaired (0.4) 3.8 (0.2) 3.2 - to lifetime ECL credit-impaired — (1.1) 10.1 9.0 Changes to ECL measurement model assumptions, estimates and inputs (1.5) (1.0) — (2.5) Net other remeasurement of credit loss allowance 2.4 1.9 (0.5) 3.8 Total movements with impact on credit loss allowance charge for the period 0.7 2.4 9.1 12.2 Write-offs — — (0.5) (0.5) Remeasurement of credit loss allowance to reflect all contractually receivable interest — — 1.1 1.1 Total movements without impact on credit loss allowance charge for the period — — 0.6 0.6 At 30 September 2024 9.2 11.2 45.2 65.6
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 23 4 Loans and Advances to Customers (continued) Credit loss allowance (unaudited) in billions of Russian Roubles 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Total other loans to individuals measured at amortized cost At 1 January 2025 148.6 109.6 573.7 0.1 832.0 Movements with impact on credit loss allowance charge for the period: Transfers and corresponding remeasurement of credit loss allowances: - to 12-month ECL 17.3 (48.7) (4.6) — (36.0) - to lifetime ECL not credit-impaired (42.3) 223.1 (4.0) — 176.8 - to lifetime ECL credit-impaired (15.8) (177.6) 412.9 — 219.5 Changes to ECL measurement model assumptions, estimates and inputs 13.3 (7.0) (12.2) — (5.9) Net other remeasurement of credit loss allowance 17.0 25.0 (68.2) — (26.2) Total movements with impact on credit loss allowance charge for the period (10.5) 14.8 323.9 — 328.2 Movements without impact on credit loss allowance charge for the period: Write-offs — — (193.6) — (193.6) Remeasurement of credit loss allowance to reflect all contractually receivable interest — — 46.0 — 46.0 Other movements — — 7.8 — 7.8 Total movements without impact on credit loss allowance charge for the period — — (139.8) — (139.8) At 30 September 2025 138.1 124.4 757.8 0.1 1,020.4 Credit loss allowance (unaudited) in billions of Russian Roubles 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Total other loans to individuals measured at amortized cost At 30 June 2025 140.2 145.6 700.1 0.1 986.0 Movements with impact on credit loss allowance charge for the period: Transfers and corresponding remeasurement of credit loss allowances: - to 12-month ECL 6.7 (19.7) (1.9) — (14.9) - to lifetime ECL not credit-impaired (11.0) 61.9 (1.8) — 49.1 - to lifetime ECL credit-impaired (7.2) (64.3) 170.2 — 98.7 Changes to ECL measurement model assumptions, estimates and inputs 9.2 2.3 6.0 — 17.5 Net other remeasurement of credit loss allowance 0.2 (1.4) (49.0) — (50.2) Total movements with impact on credit loss allowance charge for the period (2.1) (21.2) 123.5 — 100.2 Movements without impact on credit loss allowance charge for the period: Write-offs — — (86.9) — (86.9) Remeasurement of credit loss allowance to reflect all contractually receivable interest — — 17.8 — 17.8 Other movements — — 3.3 — 3.3 Total movements without impact on credit loss allowance charge for the period — — (65.8) — (65.8) At 30 September 2025 138.1 124.4 757.8 0.1 1,020.4
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 24 4 Loans and Advances to Customers (continued) Credit loss allowance (unaudited) in billions of Russian Roubles 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Total other loans to individuals measured at amortized cost At 1 January 2024 140.7 68.7 431.4 0.1 640.9 Movements with impact on credit loss allowance charge for the period: Transfers and corresponding remeasurement of credit loss allowances: - to 12-month ECL 12.6 (40.0) (1.9) — (29.3) - to lifetime ECL not credit-impaired (35.5) 192.8 (2.0) — 155.3 - to lifetime ECL credit-impaired (9.2) (95.1) 191.4 — 87.1 Changes to ECL measurement model assumptions, estimates and inputs (32.5) (10.6) (11.5) — (54.6) Net other remeasurement of credit loss allowance 96.5 19.0 (22.3) — 93.2 Total movements with impact on credit loss allowance charge for the period 31.9 66.1 153.7 — 251.7 Movements without impact on credit loss allowance charge for the period: Write-offs — — (113.7) — (113.7) Remeasurement of credit loss allowance to reflect all contractually receivable interest — — 22.2 — 22.2 Other movements — — 6.0 0.1 6.1 Total movements without impact on credit loss allowance charge for the period — — (85.5) 0.1 (85.4) At 30 September 2024 172.6 134.8 499.6 0.2 807.2 Credit loss allowance (unaudited) in billions of Russian Roubles 12-month ECL Lifetime ECL not credit- impaired Lifetime ECL credit- impaired Purchased/ originated credit- impaired Total Total other loans to individuals measured at amortized cost At 30 June 2024 168.1 105.6 441.5 0.2 715.4 Movements with impact on credit loss allowance charge for the period: Transfers and corresponding remeasurement of credit loss allowances: - to 12-month ECL 4.4 (14.6) (0.8) — (11.0) - to lifetime ECL not credit-impaired (14.5) 81.4 (0.7) — 66.2 - to lifetime ECL credit-impaired (4.9) (39.9) 84.6 — 39.8 Changes to ECL measurement model assumptions, estimates and inputs (24.7) (8.9) — — (33.6) Net other remeasurement of credit loss allowance 44.2 11.2 3.2 — 58.6 Total movements with impact on credit loss allowance charge for the period 4.5 29.2 86.3 — 120.0 Movements without impact on credit loss allowance charge for the period: Write-offs — — (38.2) — (38.2) Remeasurement of credit loss allowance to reflect all contractually receivable interest — — 8.0 — 8.0 Other movements — — 2.0 — 2.0 Total movements without impact on credit loss allowance charge for the period — — (28.2) — (28.2) At 30 September 2024 172.6 134.8 499.6 0.2 807.2
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 25 4 Loans and Advances to Customers (continued) Loans and advances to customers measured at fair value through profit or loss The following tables set out the credit quality analysis of the Group’s loans and advances to customers measured at fair value through profit or loss as at 30 September 2025 and 31 December 2024 using the credit risk grades same as for loans and advances to customers measured at amortized cost: 30 September 2025 (unaudited) in billions of Russian Roubles Minimum credit risk Low credit risk Moderate credit risk High credit risk Default Total Project finance loans to legal entities 352.4 1,444.8 860.4 194.9 94.0 2,946.5 Commercial loans to legal entities 214.0 205.3 35.8 172.2 9.1 636.4 Consumer and other loans to individuals — — — 3.9 — 3.9 Total loans and advances to customers measured at fair value through profit or loss 566.4 1,650.1 896.2 371.0 103.1 3,586.8 31 December 2024 in billions of Russian Roubles Minimum credit risk Low credit risk Moderate credit risk High credit risk Default Total Project finance loans to legal entities 208.7 1,264.3 646.6 153.0 90.4 2,363.0 Commercial loans to legal entities 179.5 117.0 23.0 231.3 5.6 556.4 Consumer and other loans to individuals — — — 1.2 — 1.2 Total loans and advances to customers measured at fair value through profit or loss 388.2 1,381.3 669.6 385.5 96.0 2,920.6 In the third quarter of 2025 new LGD models were implemented for the segments of project financing and financing of residential real estate which resulted in a positive revaluation of loans and advances to customers measured at fair value through profit or loss in the amount of RR 16.7 billion. For the nine months ended 30 September 2025 net gains / (losses) from non-derivative financial instruments at fair value through profit or loss include RR 30.4 billion of positive revaluation (for the nine months ended 30 September 2024: RR 10.8 billion of positive revaluaion) of loans and advances to customers measured at fair value through profit or loss which is driven by a change in credit quality of respective assets. For the three months ended 30 September 2025 net gains / (losses) from non-derivative financial instruments at fair value through profit or loss include RR 1.7 billion of positive revaluation (for the three months ended 30 September 2024: RR 13.0 billion of negative revaluaion) of loans and advances to customers measured at fair value through profit or loss which is driven by a change in credit quality of respective assets.
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 26 4 Loans and Advances to Customers (continued) Current and past due loans analysis. For the purposes of these interim condensed consolidated financial statements a loan is considered past due when the borrower fails to make any payment due under the loan agreement at the reporting date. In this case the aggregate amount due from borrower under the respective loan agreement including accrued interest and commissions is recognized as past due. For the purposes of these interim condensed consolidated financial statements restructured loans are classified as not past due if there are no past due payments on these loans. The table below shows the analysis of loans and advances to customers measured at amortized cost and credit loss allowance as at 30 September 2025: (unaudited) in billions of Russian Roubles Gross carrying amount of loans Credit loss allowance Total amortized cost of loans Credit loss allowance to gross carrying amount of loans Commercial loans to legal entities Loans not past due 15,290.9 (317.7) 14,973.2 2.1% Loans 1 to 90 days overdue 136.5 (45.6) 90.9 33.4% Loans over 90 days overdue 528.6 (398.5) 130.1 75.4% Total commercial loans to legal entities 15,956.0 (761.8) 15,194.2 4.8% Project finance loans to legal entities Loans not past due 10,213.9 (345.1) 9,868.8 3.4% Loans 1 to 90 days overdue 41.9 (8.6) 33.3 20.5% Loans over 90 days overdue 137.2 (92.7) 44.5 67.6% Total project finance loans to legal entities 10,393.0 (446.4) 9,946.6 4.3% Total loans to legal entities 26,349.0 (1,208.2) 25,140.8 4.6% Mortgage loans to individuals Loans not past due 11,409.4 (30.0) 11,379.4 0.3% Loans 1 to 90 days overdue 206.4 (18.6) 187.8 9.0% Loans over 90 days overdue 109.5 (66.5) 43.0 60.7% Total mortgage loans to individuals 11,725.3 (115.1) 11,610.2 1.0% Consumer and other loans to individuals Loans not past due 2,913.1 (106.5) 2,806.6 3.7% Loans 1 to 90 days overdue 173.8 (63.1) 110.7 36.3% Loans over 90 days overdue 502.6 (459.1) 43.5 91.3% Total consumer and other loans to individuals 3,589.5 (628.7) 2,960.8 17.5% Credit cards and overdrafts to individuals Loans not past due 2,072.2 (73.2) 1,999.0 3.5% Loans 1 to 90 days overdue 191.0 (74.3) 116.7 38.9% Loans over 90 days overdue 273.0 (208.8) 64.2 76.5% Total credit cards and overdrafts to individuals 2,536.2 (356.3) 2,179.9 14.0% Car loans to individuals Loans not past due 604.6 (11.9) 592.7 2.0% Loans 1 to 90 days overdue 14.5 (4.5) 10.0 31.0% Loans over 90 days overdue 26.0 (19.0) 7.0 73.1% Total car loans to individuals 645.1 (35.4) 609.7 5.5% Total loans to individuals 18,496.1 (1,135.5) 17,360.6 6.1% Total loans and advances to customers measured at amortized cost at 30 September 2025 44,845.1 (2,343.7) 42,501.4 5.2%
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 27 4 Loans and Advances to Customers (continued) The table below shows the analysis of loans and advances to customers measured at amortized cost and credit loss allowance as at 31 December 2024: in billions of Russian Roubles Gross carrying amount of loans Credit loss allowance Total amortized cost of loans Credit loss allowance to gross carrying amount of loans Commercial loans to legal entities Loans not past due 15,253.2 (281.2) 14,972.0 1.8% Loans 1 to 90 days overdue 143.7 (58.7) 85.0 40.8% Loans over 90 days overdue 416.4 (332.7) 83.7 79.9% Total commercial loans to legal entities 15,813.3 (672.6) 15,140.7 4.3% Project finance loans to legal entities Loans not past due 8,869.9 (341.1) 8,528.8 3.8% Loans 1 to 90 days overdue 54.8 (21.2) 33.6 38.7% Loans over 90 days overdue 78.8 (66.4) 12.4 84.3% Total project finance loans to legal entities 9,003.5 (428.7) 8,574.8 4.8% Total loans to legal entities 24,816.8 (1,101.3) 23,715.5 4.4% Mortgage loans to individuals Loans not past due 11,003.7 (26.1) 10,977.6 0.2% Loans 1 to 90 days overdue 90.8 (9.9) 80.9 10.9% Loans over 90 days overdue 59.0 (40.8) 18.2 69.2% Total mortgage loans to individuals 11,153.5 (76.8) 11,076.7 0.7% Consumer and other loans to individuals Loans not past due 3,518.4 (120.3) 3,398.1 3.4% Loans 1 to 90 days overdue 125.1 (57.9) 67.2 46.3% Loans over 90 days overdue 373.2 (344.4) 28.8 92.3% Total consumer and other loans to individuals 4,016.7 (522.6) 3,494.1 13.0% Credit cards and overdrafts to individuals Loans not past due 2,085.8 (79.4) 2,006.4 3.8% Loans 1 to 90 days overdue 56.1 (27.6) 28.5 49.2% Loans over 90 days overdue 200.3 (173.8) 26.5 86.8% Total credit cards and overdrafts to individuals 2,342.2 (280.8) 2,061.4 12.0% Car loans to individuals Loans not past due 569.5 (8.5) 561.0 1.5% Loans 1 to 90 days overdue 11.0 (5.0) 6.0 45.5% Loans over 90 days overdue 21.7 (15.1) 6.6 69.6% Total car loans to individuals 602.2 (28.6) 573.6 4.7% Total loans to individuals 18,114.6 (908.8) 17,205.8 5.0% Total loans and advances to customers measured at amortized cost at 31 December 2024 42,931.4 (2,010.1) 40,921.3 4.7%
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 28 4 Loans and Advances to Customers (continued) The table below shows the analysis of loans and advances to customers measured at fair value through profit or loss as at 30 September 2025 and 31 December 2024: Loans and advances to customers measured at fair value through profit or loss in billions of Russian Roubles 30 September 2025 (unaudited) 31 December 2024 Project finance loans to legal entities Loans not past due 2,925.7 2,343.5 Loans 1 to 90 days overdue 1.6 14.3 Loans over 90 days overdue 19.2 5.2 Total project finance loans to legal entities 2,946.5 2,363.0 Commercial loans to legal entities Loans not past due 629.9 552.1 Loans 1 to 90 days overdue 1.7 0.1 Loans over 90 days overdue 4.8 4.2 Total commercial loans to legal entities 636.4 556.4 Total loans to legal entities 3,582.9 2,919.4 Consumer and other loans to individuals Loans not past due 3.9 1.2 Total consumer and other loans to individuals 3.9 1.2 Total loans to individuals 3.9 1.2 Total loans and advances to customers measured at fair value through profit or loss 3,586.8 2,920.6
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 29 4 Loans and Advances to Customers (continued) Economic sector risk concentration. In 2025 the Group refined economic sector categories within the presentation of risk concentration. These changes lead to more informative and relevant presentation of financial information. Starting from the interim condensed consolidated financial statements for the three months ended 31 March 2025 the Group presents the structure of loans and advances to customers with risk concentration under refined economic sector categories. The comparative information as at 31 December 2024 was recalculated accordingly. Economic sector risk concentrations within loans and advances to customers of the Group are as follows: 30 September 2025 31 December 2024 (unaudited) in billions of Russian Roubles Amount % Amount % Individuals 18,500.0 38.2% 18,115.8 39.5% Residential property 7,549.3 15.6% 5,812.2 12.7% Oil and gas 3,700.3 7.6% 3,144.5 6.9% Metallurgy and mining 3,581.3 7.4% 3,620.1 7.9% Transport and logistics 2,351.7 4.9% 2,269.6 4.9% Food and agriculture 2,210.2 4.5% 2,157.0 4.7% Commercial property 1,816.2 3.8% 1,859.0 4.1% Trade 1,320.7 2.7% 1,597.7 3.5% Machinery 1,263.0 2.6% 1,264.5 2.7% Chemical industry 1,191.0 2.5% 1,229.5 2.7% Telecommunications 1,147.7 2.4% 1,192.9 2.6% Energy 914.7 1.9% 868.8 1.9% Construction contractors and production of building materials 733.6 1.5% 612.3 1.3% Services 395.4 0.8% 384.7 0.8% Finance and leasing 384.7 0.8% 461.1 1.0% Healthcare and pharmaceuticals 371.3 0.8% 361.3 0.8% Timber industry 325.2 0.7% 259.7 0.6% Government and municipal bodies 174.2 0.3% 153.7 0.3% Other 501.4 1.0% 487.6 1.1% Total loans and advances to customers before credit loss allowance 48,431.9 100.0% 45,852.0 100.0%
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 30 5 Securities in billions of Russian Roubles 30 September 2025 (unaudited) 31 December 2024 Securities measured at fair value through other comprehensive income - debt instruments 4,994.6 4,524.4 Securities measured at amortized cost 1,887.8 1,264.7 Securities mandatorily measured at fair value through profit or loss 975.4 703.9 Securities designated at fair value through profit or loss 783.3 524.5 Securities designated at fair value through other comprehensive income - equity instruments 0.2 0.2 Total securities 8,641.3 7,017.7 Securities measured at fair value through other comprehensive income - debt instruments The composition of debt securities measured at fair value through other comprehensive income as at 30 September 2025 and 31 December 2024 is presented below: in billions of Russian Roubles 30 September 2025 (unaudited) 31 December 2024 Russian federal loan bonds (OFZ bonds) 4,414.1 3,934.4 Mortgage-backed securities 321.5 210.1 Corporate bonds 111.0 207.6 Russian Federation Eurobonds 107.4 114.1 Foreign government and municipal bonds 35.9 49.0 Russian municipal and subfederal bonds 4.7 9.2 Total securities measured at fair value through other comprehensive income - debt instruments 4,994.6 4,524.4 Securities measured at amortized cost The composition of securities measured at amortized cost as at 30 September 2025 and 31 December 2024 is presented below: in billions of Russian Roubles 30 September 2025 (unaudited) 31 December 2024 Russian federal loan bonds (OFZ bonds) 1,032.3 459.2 Corporate bonds 743.1 680.1 Russian municipal and subfederal bonds 75.1 92.2 Foreign government and municipal bonds 23.4 12.4 Russian Federation Eurobonds 18.8 23.3 Promissory notes — 0.5 Total securities measured at amortized cost before credit loss allowance 1,892.7 1,267.7 Credit loss allowance (4.9) (3.0) Total securities measured at amortized cost 1,887.8 1,264.7
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 31 5 Securities (continued) Securities mandatorily measured at fair value through profit or loss The composition of securities mandatorily measured at fair value through profit or loss as at 30 September 2025 and 31 December 2024 is presented below: in billions of Russian Roubles 30 September 2025 (unaudited) 31 December 2024 Corporate bonds 334.6 237.0 Russian federal loan bonds (OFZ bonds) 304.9 175.9 Russian Federation Eurobonds 27.7 23.9 Russian municipal and subfederal bonds 6.1 5.6 Mortgage-backed securities 0.8 1.2 Foreign government and municipal bonds 0.2 0.2 Total bonds mandatorily measured at fair value through profit or loss 674.3 443.8 Corporate shares and other equity instruments 291.3 255.0 Investments in mutual funds 9.8 5.1 Total securities mandatorily measured at fair value through profit or loss 975.4 703.9 Securities designated at fair value through profit or loss The composition of securities designated at fair value through profit or loss as at 30 September 2025 and 31 December 2024 is presented below: in billions of Russian Roubles 30 September 2025 (unaudited) 31 December 2024 Russian federal loan bonds (OFZ bonds) 497.3 325.5 Corporate bonds 236.8 143.5 Russian Federation Eurobonds 29.1 36.0 Russian municipal and subfederal bonds 19.9 19.3 Total bonds designated at fair value through profit or loss 783.1 524.3 Investments in mutual funds 0.2 0.2 Total securities designated at fair value through profit or loss 783.3 524.5
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 32 6 Securities Pledged under Repurchase Agreements in billions of Russian Roubles 30 September 2025 (unaudited) 31 December 2024 Securities measured at fair value through other comprehensive income - debt instruments 1,081.9 1,404.6 Securities measured at amortized cost 91.3 26.3 Securities mandatorily measured at fair value through profit or loss 0.3 3.4 Total securities pledged under repurchase agreements 1,173.5 1,434.3 As at 30 September 2025 direct repo agreements with banks amounted to RR 2,378.1 billion (31 December 2024: RR 2,432.9 billion). Information on direct repo agreements with individuals and corporate customers is provided in Note 7. Securities measured at fair value through other comprehensive income pledged under repurchase agreements - debt instruments The composition of debt securities measured at fair value through other comprehensive income pledged under repurchase agreements as at 30 September 2025 and 31 December 2024 is presented below: in billions of Russian Roubles 30 September 2025 (unaudited) 31 December 2024 Mortgage-backed securities 557.8 446.1 Russian federal loan bonds (OFZ bonds) 388.2 952.4 Corporate bonds 130.9 6.1 Russian municipal and subfederal bonds 4.8 — Russian Federation Eurobonds 0.2 — Total securities measured at fair value through other comprehensive income pledged under repurchase agreements - debt instruments 1,081.9 1,404.6
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 33 7 Due to Individuals and Corporate Customers in billions of Russian Roubles 30 September 2025 (unaudited) 31 December 2024 Individuals: - Current / demand accounts 12,330.3 11,719.0 - Term deposits 17,977.3 16,073.3 - Direct repo agreements 13.3 29.3 Total due to individuals 30,320.9 27,821.6 State and public organizations: - Current / settlement accounts 310.1 218.3 - Term deposits 5,947.6 4,724.8 - Direct repo agreements 120.8 138.0 Total due to state and public organizations 6,378.5 5,081.1 Other corporate customers: - Current / settlement accounts 3,028.5 2,982.6 - Term deposits 8,024.1 8,692.6 - Direct repo agreements 125.2 44.8 Total due to other corporate customers 11,177.8 11,720.0 Total due to corporate customers 17,556.3 16,801.1 Total due to individuals and corporate customers 47,877.2 44,622.7
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 34 8 Interest Income and Expense Nine months ended 30 September Three months ended 30 September (unaudited) in billions of Russian Roubles 2025 2024 2025 2024 Interest income calculated using the effective interest method Interest income on debt financial assets / liabilities measured at amortized cost: - Loans and advances to customers 5,545.8 4,074.8 1,820.4 1,512.9 - Debt securities 136.3 80.8 61.7 27.8 - Operations with banks and cash equivalents 95.0 85.0 27.2 41.2 - Other 0.7 1.8 0.3 0.5 5,777.8 4,242.4 1,909.6 1,582.4 Interest income on debt financial assets measured at fair value through other comprehensive income: - Debt securities measured at fair value through other comprehensive income 682.4 529.7 220.6 187.8 682.4 529.7 220.6 187.8 Total interest income calculated using the effective interest method 6,460.2 4,772.1 2,130.2 1,770.2 Other interest income: - Loans and advances to customers measured at fair value through profit or loss 467.9 239.7 165.9 93.6 - Due from banks measured at fair value through profit or loss 156.5 109.2 44.8 43.1 - Securities measured at fair value through profit or loss 126.0 71.9 47.5 26.6 - Derivatives used for treasury risk management purposes 2.5 3.0 0.3 0.4 Total other interest income 752.9 423.8 258.5 163.7 Interest expense calculated using the effective interest method Interest expense on financial liabilities measured at amortized cost: - Due to individuals - term deposits (1,946.0) (935.1) (658.7) (384.3) - Due to corporate customers - term deposits (1,338.6) (958.6) (399.3) (347.1) - Due to individuals - current / demand accounts (390.9) (272.3) (123.1) (109.3) - Operations with banks (290.9) (422.7) (94.6) (168.7) - Due to corporate customers - current / settlement accounts (285.8) (157.9) (85.5) (57.9) - Subordinated debt (26.2) (20.2) (10.9) (6.7) - Debt securities in issue (20.7) (25.2) (8.2) (9.0) - Lease liabilities (19.1) (13.7) (6.5) (5.1) Total interest expense calculated using the effective interest method (4,318.2) (2,805.7) (1,386.8) (1,088.1) Other interest expense: - Due to banks measured at fair value through profit or loss (167.8) (94.6) (49.8) (43.3) - Derivatives used for treasury risk management purposes (20.2) (3.5) (11.1) (0.1) - Due to customers measured at fair value through profit or loss (14.6) (9.7) (4.9) (3.4) - Obligation to deliver securities (9.5) (7.0) (3.3) (2.2) Total other interest expense (212.1) (114.8) (69.1) (49.0) Deposit insurance expenses (115.0) (100.2) (39.2) (34.7) Net interest income 2,567.8 2,175.2 893.6 762.1
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 35 9 Fee and Commission Income and Expense Nine months ended 30 September Three months ended 30 September (unaudited) in billions of Russian Roubles 2025 2024 2025 2024 Fee and commission income Operations with bank cards 484.6 457.9 171.9 161.8 Cash and settlements transactions 262.2 263.2 93.9 93.8 Client operations with foreign currencies and precious metals 37.4 37.4 11.8 12.6 Documentary and other credit related commitments commissions 35.5 46.3 12.8 18.3 Securities and commodities brokerage, custodian and investment banking commissions 9.0 6.3 3.6 2.2 Other 57.0 41.7 21.6 17.7 Total fee and commission income 885.7 852.8 315.6 306.4 Fee and commission expense Operations with bank cards (245.3) (221.1) (88.9) (80.1) Settlement transactions (11.7) (7.2) (4.4) (3.0) Other (14.0) (12.7) (5.8) (5.1) Total fee and commission expense (271.0) (241.0) (99.1) (88.2) Net fee and commission income 614.7 611.8 216.5 218.2 10 Staff and Administrative Expenses Nine months ended 30 September Three months ended 30 September (unaudited) in billions of Russian Roubles 2025 2024 2025 2024 Staff costs 557.8 491.5 190.5 173.1 Amortization of intangible assets 84.3 57.2 29.9 20.5 Depreciation of premises, equipment and right-of-use assets 74.9 73.7 27.1 25.8 Repairs and maintenance of premises and equipment 31.7 31.4 13.3 13.1 Administrative expenses including expenses on payment facilities, professional services and other administrative expenses 31.6 35.3 16.0 16.8 Advertising and marketing services 24.6 24.0 12.3 11.6 Telecommunication and information systems services 17.7 14.2 7.2 4.4 Short-term, low value and variable lease expenses 6.0 5.8 2.1 2.1 Taxes payable (other than income tax) 4.4 4.4 1.5 1.8 Other expenses 30.6 17.1 8.7 5.1 Total staff and administrative expenses 863.6 754.6 308.6 274.3 For the nine months ended 30 September 2025, the cost of insurance premiums to the state fund included in staff and administrative expenses amounted to RR 104.8 billion (for the nine months ended 30 September 2024: RR 91.6 billion). For the three months ended 30 September 2025, the cost of insurance premiums to the state fund included in staff and administrative expenses amounted to RR 33.8 billion (for the three months ended 30 September 2024: RR 29.2 billion). These amounts include expenses related to the defined contribution state pension program, which cannot be extracted from the total amount of insurance premiums.
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 36 11 Earnings per Share and Dividends Basic earnings per share are calculated by dividing the profit attributable to the holders of ordinary shares of the Bank by the weighted average number of ordinary shares in issue during the period, excluding treasury shares. The Bank has no ordinary shares that pot entially dilute earnings per share , except for share -based long-term incentive programs settled in shares. The effect of those programs as at 30 September 2025 and 30 September 2024 is negligible, therefore the diluted earnings per share for the purpose of these interim condensed consolidated financial statements are presented equal to the basic earnings per share. Earnings per ordinary share based on profit for the period attributable to the shareholders of the Bank, basic and diluted, are calculated in the table below: Nine months ended 30 September Three months ended 30 September (unaudited) in billions of Russian Roubles 2025 2024 2025 2024 Profit for the period attributable to the shareholders of the Bank 1,308.4 1,228.0 449.8 411.7 Less preference dividends declared (33.6) (32.3) — — Profit attributable to the ordinary shareholders of the Bank 1,274.8 1,195.7 449.8 411.7 Weighted average number of ordinary shares in issue (billions) 21.4 21.4 21.4 21.4 Earnings per ordinary share based on profit for the period attributable to the shareholders of the Bank, basic and diluted (expressed in RR per share) 59.61 55.93 21.03 19.26 In June 2025 the Annual General Shareholders’ Meeting of the Bank declared dividends for 2024 of RR 786.9 billion (including RR 6.6 billion of ordinary dividends and RR 1.2 billion of preference dividends attributable to the treasury shares). Dividends paid for the nine months 2025 amount ed RR 694.8 billion for ordinary shares and RR 33.0 billion for preference shares. In June 2024 the Annual General Shareholders’ Meeting of the Bank declared dividends for 2023 of RR 752.1 billion (including RR 7.0 billion of ordinary dividends and RR 1.9 billion of preference dividends attributable to the treasury shares). Dividends paid for the nine months 2024 amounted RR 671.3 billion for ordinary shares and RR 32.1 billion for preference shares. Payables on dividends are included in the line Other liabilities in the interim consolidated statement of financial position.
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 37 12 Other Reserves Attributable to shareholders of the Bank in billions of Russian Roubles Revaluation reserve for office premises Fair value reserve for debt instruments measured at FVOCI Liabilities reserve for buyout of non- controlling interest Foreign currency translation reserve Reserve for remeasure- ment of defined benefit pension plans Reserve for incentive programs for employees Reserve for insurance finance income/ (expenses) Total Balance as at 31 December 2023 38.9 (263.5) (6.0) (4.6) 0.1 11.1 28.1 (195.9) Changes in equity for the nine months ended 30 September 2024 (unaudited) Transfer of revaluation reserve for office premises upon disposal or depreciation (1.3) — — — — — — (1.3) Other comprehensive (loss) / income for the period (2.9) (375.9) — 0.7 2.7 — 52.8 (322.6) Disposal of liabilities reserve for buyout of non-controlling interest — — 2.4 — — — — 2.4 Net change in reserve for incentive programs for employees — — — — — 8.9 — 8.9 Balance as at 30 September 2024 (unaudited) 34.7 (639.4) (3.6) (3.9) 2.8 20.0 80.9 (508.5) Balance as at 31 December 2024 34.8 (564.6) (3.5) (2.5) 2.3 17.5 74.0 (442.0) Changes in equity for the nine months ended 30 September 2025 (unaudited) Transfer of revaluation reserve for office premises upon disposal or depreciation (1.2) — — — — — — (1.2) Other comprehensive income / (loss) for the period — 194.7 — (8.6) (1.4) — (25.4) 159.3 Disposal of liabilities reserve for buyout of non-controlling interest — — 2.3 — — — — 2.3 Net change in reserve for incentive programs for employees — — — — — 4.8 — 4.8 Balance as at 30 September 2025 (unaudited) 33.6 (369.9) (1.2) (11.1) 0.9 22.3 48.6 (276.8)
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 38 13 Segment Analysis Segments represent business lines, the operating results of which are regularly reviewed by the authorized management which is represented by the Bank's Management Board and the heads of business units (the “Management”). The Management determines the strategy, allocates resources and evaluates the results of the Group's performance. The Group's management consider segment reporting in the context of business blocks and makes management decisions based on the results of these business blocks. Description of the main products and services of the segments In accordance with IFRS 8 “Operating Segments”, the Group has identified the following reportable segments: B2B (business to business); B2C (business to clients); Other. B2B (business to business) The B2B segment is focused on providing banking products and services to corporate customers (largest customers, large, medium and small businesses, government bodies, fina ncial organizations ). This segment inclu des the following main products / services and areas of activities: lending products to corporate clients (lending, trade and export financing, interbank and overdraft lending, REPO, leasing, other financing instruments); operations with derivative financial instruments, foreign currencies, precious metals, commodities and securities; activities and operations with distressed assets (settlement and collection of loans including loans to individuals); debt and capital markets funding services and custody services; documentary operations: guarantees, letters of credit; deposit and corporate structured products; cash and settlement services for corporate clients; currency control; corporate insurance products; other commission services (for example, collection services).
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 39 13 Segment Analysis (continued) B2C (business to clients) The B2C segment is focused on providing a wide range of products and services for end consumers – individuals. This segment includes the following main products / services and areas of activities: lending products to individuals (consumer loans, credit cards and overdrafts, mortgage loans, car loans); issuance and maintenance of bank cards; deposit products; domestic and international payments and transfers of individuals; provision of lending products to individuals on operations in financial markets (REPO, margin lending, securities lending); pension accounts management; investment and endowment life insurance; risk insurance; other commission services. Other The "Other" segment includes a number of non-core assets and unallocated items. Factors taken into account in determining the reportable segments The presentation of segment reporting by the Group is based on the main business blocks that have their own lines of business, development strategies, separate management procedures, and the results of which are regularly reviewed by the Management for making management decisions. Assessment of segment profit and loss, assets and liabilities Segment reporting is generally based on International Financial Reporting Standards, taking into account differences caused by the time of reporting, the perimeter of the included subsidiaries and a number of adjustments to comply with the Group's management reporting stand ards. Where applicable, segment income and expense line items include results from reallocations of financial resources performed by treasury an d transactions between segments / subsidiaries. Transactions between segments and between subsidiaries are carried out on a regular basis and generally under market terms. Segments result also includes the allocation of support functions costs which is based on the most appropriate drivers. The main differences between the Group's reporting under IFRS and segment reporting are presented further in this Note. The Group evaluates the operating results of its segments based on profit before tax. Information on performance of the reportable segments for nine months and for three months ended 30 September 2025 and 30 September 2024 is presented below:
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 40 13 Segment Analysis (continued) (unaudited) in billions of Russian Roubles B2B B2C Other Intersegment eliminations Total Nine months ended 30 September 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 Revenue from: - external customers 4,210.0 2,895.3 3,209.9 2,794.7 860.6 673.1 — — 8,280.5 6,363.1 - other segments 87.0 39.6 40.2 54.0 45.3 49.3 (172.5) (142.9) — — Total revenue 4,297.0 2,934.9 3,250.1 2,848.7 905.9 722.4 (172.5) (142.9) 8,280.5 6,363.1 Segment performance: Operating income / (loss) before credit loss allowance and other provisions 1,666.0 1,529.2 1,597.1 1,364.3 (161.2) (260.8) (48.9) (16.3) 3,053.0 2,616.4 Net (charge for) / recovery of credit loss allowance and other provisions (49.5) 10.2 (428.3) (293.3) 11.2 6.0 (4.9) — (471.5) (277.1) Staff and administrative expenses (347.8) (295.4) (396.5) (362.1) (148.3) (120.3) 20.7 25.9 (871.9) (751.9) Profit / (loss) before tax (segment result) 1,268.7 1,244.0 772.3 708.9 (298.3) (375.1) (33.1) 9.6 1,709.6 1,587.4
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 41 13 Segment Analysis (continued) (unaudited) in billions of Russian Roubles B2B B2C Other Intersegment eliminations Total Three months ended 30 September 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 Revenue from: - external customers 1,430.1 944.7 1,048.9 919.6 270.4 221.4 — — 2,749.4 2,085.7 - other segments 22.2 10.1 11.3 21.1 12.9 14.9 (46.4) (46.1) — — Total revenue 1,452.3 954.8 1,060.2 940.7 283.3 236.3 (46.4) (46.1) 2,749.4 2,085.7 Segment performance: Operating income / (loss) before credit loss allowance and other provisions 552.7 543.0 477.7 515.8 46.9 (123.1) (6.1) 7.3 1,071.2 943.0 Net (charge for) / recovery of credit loss allowance and other provisions (43.8) 24.3 (114.1) (143.5) (0.5) 3.1 (5.3) — (163.7) (116.1) Staff and administrative expenses (122.9) (105.4) (137.6) (129.1) (58.9) (42.6) 5.9 9.6 (313.5) (267.5) Profit / (loss) before tax (segment result) 386.0 461.9 226.0 243.2 (12.5) (162.6) (5.5) 16.9 594.0 559.4
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 42 13 Segment Analysis (continued) The revenue of the B2B and B2C reporting segments includes the following components: interest income, commission income, insurance income, non-core activities income, other operating income. The table below comprises information on assets and liabilities of each reportable segment as at 30 September 2025 and 31 December 2024: Segment assets Segment liabilities in billions of Russian Roubles 30 September 2025 (unaudited) 31 December 2024 30 September 2025 (unaudited) 31 December 2024 B2B 32,537.9 30,121.1 16,329.3 15,647.7 B2C 21,333.2 21,092.7 29,157.3 27,560.0 Other 13,884.0 13,330.0 12,867.2 13,138.4 Intersegment eliminations (3,153.7) (3,875.6) (1,676.0) (2,731.7) Total 64,601.4 60,668.2 56,677.8 53,614.4 The table below shows a more detailed structure of income and expenses of the B2B segment: Nine months ended 30 September Three months ended 30 September (unaudited) in billions of Russian Roubles 2025 2024 2025 2024 Net interest income - Corporate customers 459.0 447.1 150.7 149.3 - Individuals 432.1 300.8 146.5 122.1 - Securities 25.6 5.3 6.6 3.1 - Banks (13.8) 25.5 0.2 10.7 - Other 333.7 330.7 108.7 121.3 Total net interest income 1,236.6 1,109.4 412.7 406.5 Net fee and commission income - Operations with bank cards 100.4 102.0 34.8 35.5 - Cash and settlements transactions 97.7 89.6 36.7 33.0 - Guarantees and documentary operations 41.6 47.9 15.3 19.2 - Exchange operations and operations on financial markets 32.3 31.7 10.5 10.6 - Agent and other commission income 22.8 19.9 7.6 7.7 Total net fee and commission income 294.8 291.1 104.9 106.0 Net income / (loss) from trading operations 28.8 26.8 (2.6) (6.4) Other net operating income 105.8 101.9 37.7 36.9 Operating income before credit loss allowance and other provisions 1,666.0 1,529.2 552.7 543.0 Net (charge for) / recovery of credit loss allowance and other provisions (49.5) 10.2 (43.8) 24.3 Staff and administrative expenses (347.8) (295.4) (122.9) (105.4) Profit before tax (segment result) 1,268.7 1,244.0 386.0 461.9
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 43 13 Segment Analysis (continued) The table below shows a more detailed structure of income and expenses of the B2C segment: Nine months ended 30 September Three months ended 30 September (unaudited) in billions of Russian Roubles 2025 2024 2025 2024 Net interest income - Individuals 1,345.6 1,250.0 401.2 456.3 - Securities 149.6 106.3 56.8 37.8 - Banks 100.1 36.4 34.5 18.2 - Other 121.2 92.1 35.1 33.0 Total net interest income 1,716.5 1,484.8 527.6 545.3 Net fee and commission income - Cash and settlements transactions 158.2 155.8 54.2 53.2 - Operations with bank cards 128.2 143.4 40.3 51.1 - Exchange operations and operations on financial markets 26.9 23.1 10.5 8.0 - Agent and other commission income 27.6 22.7 11.3 6.4 Total net fee and commission income 340.9 345.0 116.3 118.7 Net income / (loss) from trading operations 58.3 (82.5) (2.2) (33.4) Net insurance (expenses) / income (144.9) 66.3 (31.8) 21.0 Other net operating loss (373.7) (449.3) (132.2) (135.8) Operating income before credit loss allowance and other provisions 1,597.1 1,364.3 477.7 515.8 Net charge for credit loss allowance and other provisions (428.3) (293.3) (114.1) (143.5) Staff and administrative expenses (396.5) (362.1) (137.6) (129.1) Profit before tax (segment result) 772.3 708.9 226.0 243.2 Profit before tax (segment result) insignificantly differs from profit before tax of the Group presented in the interim consolidated statement of profit or loss prepared under IFRS. Differences for the nine months and three months ended 30 September 2025 and ended 30 September 2024 arose from timing differences in recognition of income and expense. The segment assets and liabilities insignificantly differ from those in the interim consolidated statement of financial position prepared under IF RS. This is du e to differences in the classification and valuation of some assets and liabilities. Revenue from external clients for the nine months and three months ended 30 September 2025 and 30 September 2024 was mostly concentrated in Russia based on the geographica l location of the Group's companies. As at 30 September 2025 and 31 December 2024 non-current assets of the Group's companies were mostly concentrated in Russia.
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 44 14 Financial Risk Management The Group manages the following types of risks: credit risk, market risk, liquidity risk, insurance risk, operational risk, compliance risk and other types of risks. Risk management system is the part of the overall management system of the Group which aims to provide sustainable development of the Bank and the Group members in line with the approved Development Strategy. The Group’s risk management policies and procedures are consistent with those disclosed in the annual consolidated financial statements of the Group for the year ended 31 December 2024. Liquidity risk. Liquidity risk is defined as the risk of inability of the Group to finance its performance, i.e. to ensure the growth of assets and/or fulfil its obligations when they occur or the risk of non -compliance with the regulator requirements relating liquidity risk. Principles that are used to analyse the liquidity position presentation and manage the Group liquidity risk management are based on the Bank’s of Russia prudential initiatives and the Bank’s practice: cash and cash equivalents represent highly liquid assets and are classified as “On demand and less than 1 month”; securities mandatorily measured and designated at fair value through profit or loss and highly liquid portion of securities measured at fair value through other comprehensive income are disclosed in the analysis of liquidity position as “On demand and less than 1 mo nth”. For liquidity analysis of securities measured at fair value through other comprehensive income , a possibility to dispose of the security and to attract funding using it as a collateral are taken into consideration; securities measured at fair value t hrough other comprehensive income which are less liquid are disclosed according to remaining contractual maturities (for debt instruments) or as “No stated maturity / overdue” (for equity instruments); securities measured at amortized cost including those pledged under repurchase agreements are classified based on the earliest of two dates: redemption offer date or maturity date of security ; highly liquid portion of securities pledged under repurchase agreements is disclosed based on the remaining maturities of repurchase agreements; loans and advances to customers, amounts due from banks, other assets, debt securities in issue, amounts due to banks and other liabilities are included into analysis of liquidity position based on remaining contractual maturiti es (for loans and advances to customers “No stated maturity / overdue” category represents only actual payments which were overdue); due to individuals are not disclosed as “On demand and less than 1 month” in full amount although individuals have a right to withdraw money from any account, including term deposits, before maturity date, losing the right to accrued interest; diversification of accounts of individuals and corporate customers by number and type of customers and the past experience of the Group indicate that such balances provide a long -term and stable source of funding: - for the purpose of liquidity anal ysis of accounts of individuals, the Group takes an approach implies the application of behavioral models based on historical dynamics and product profile for all the funds attracted from individuals (current accounts and term deposits balances); - in the analysis of liquidity position current accounts of corporate customers are allocated on the basis of expected time of funds outflow and assumptions regarding the “permanent” part of current account balances. Term deposits of corporate customers are allocated on the basis of their contractual maturity for the purposes of liquidity analysis;
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 45 14 Financial Risk Management (continued) assets and liabilities related to insurance contracts are disclosed based on actuarial models and assumptions according to losses behavior patterns, also taking into account limits of insurance contracts; assets and liabilities other than those discussed above are gene rally classified on the basis of their contractual maturities. As part of its liquidity risk management, the Group maintains a sufficient amount of liquidity reserves mainly in a form of refinancing instruments of the Bank of Russia. The analysis of liquidity position of the Group’s assets and liabilities as at 30 September 2025 is set out below: (unaudited) in billions of Russian Roubles On demand and less than 1 month From 1 to 6 months From 6 to 12 months From 1 to 3 years More than 3 years No stated maturity/ overdue Total Assets Cash and cash equivalents 3,030.5 — — — — — 3,030.5 Mandatory cash balances with central banks 17.6 21.2 13.8 12.4 107.8 — 172.8 Due from banks 1,027.4 463.3 207.6 55.8 — — 1,754.1 Derivative financial assets 24.8 49.1 24.7 59.1 3.0 — 160.7 Loans and advances to customers 2,572.0 5,294.5 6,854.2 12,689.7 18,376.1 301.7 46,088.2 Securities 6,248.5 126.6 194.1 766.4 1,299.9 5.8 8,641.3 Securities pledged under repurchase agreements 681.8 414.7 35.9 32.7 8.4 — 1,173.5 Investments in associates and joint ventures — — — — — 66.9 66.9 Deferred tax asset — — — — — 68.8 68.8 Premises, equipment and right-of-use assets — — — — — 1,244.6 1,244.6 Other assets 493.1 230.9 162.7 189.9 152.3 843.5 2,072.4 Total assets 14,095.7 6,600.3 7,493.0 13,806.0 19,947.5 2,531.3 64,473.8 Liabilities Due to banks 3,146.6 381.1 28.0 7.1 0.8 — 3,563.6 Derivative financial liabilities and obligations to deliver securities 143.5 71.4 6.2 35.4 13.8 — 270.3 Due to individuals 1,498.7 3,620.0 2,873.6 2,643.4 19,685.2 — 30,320.9 Due to corporate customers 2,958.7 2,281.7 989.2 822.2 10,504.5 — 17,556.3 Debt securities in issue 43.0 129.5 201.0 102.1 88.0 — 563.6 Deferred tax liability — — — — — 40.2 40.2 Liabilities related to insurance contracts 115.8 227.7 173.3 498.7 1,174.1 — 2,189.6 Other liabilities 994.1 285.7 81.5 80.9 140.0 — 1,582.2 Subordinated debt 9.4 69.4 0.3 47.9 392.7 — 519.7 Total liabilities 8,909.8 7,066.5 4,353.1 4,237.7 31,999.1 40.2 56,606.4 Net liquidity gap 5,185.9 (466.2) 3,139.9 9,568.3 (12,051.6) 2,491.1 7,867.4 Cumulative liquidity gap as at 30 September 2025 5,185.9 4,719.7 7,859.6 17,427.9 5,376.3 7,867.4 —
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 46 14 Financial Risk Management (continued) The analysis of liquidity position of the Group’s assets and liabilities as at 31 December 2024 is set out below: in billions of Russian Roubles On demand and less than 1 month From 1 to 6 months From 6 to 12 months From 1 to 3 years More than 3 years No stated maturity/ overdue Total Assets Cash and cash equivalents 2,252.2 — — — — — 2,252.2 Mandatory cash balances with central banks 15.9 17.1 10.0 13.9 95.2 — 152.1 Due from banks 1,750.1 502.1 134.8 228.5 — — 2,615.5 Derivative financial assets 24.5 54.3 44.8 50.2 1.1 — 174.9 Loans and advances to customers 1,508.5 4,905.8 5,613.1 12,219.3 19,372.0 223.2 43,841.9 Securities 5,322.0 210.0 151.9 464.7 866.2 2.9 7,017.7 Securities pledged under repurchase agreements 873.8 532.8 — 8.3 16.3 3.1 1,434.3 Investments in associates and joint ventures — — — — — 57.9 57.9 Deferred tax asset — — — — — 121.3 121.3 Premises, equipment and right-of-use assets — — — — — 1,204.3 1,204.3 Other assets 722.2 248.0 122.7 141.5 109.4 639.2 1,983.0 Total assets 12,469.2 6,470.1 6,077.3 13,126.4 20,460.2 2,251.9 60,855.1 Liabilities Due to banks 3,066.6 1,210.0 12.2 43.7 0.2 — 4,332.7 Derivative financial liabilities and obligations to deliver securities 124.7 57.4 47.9 70.8 3.6 — 304.4 Due to individuals 1,954.6 2,780.8 2,112.5 2,702.8 18,270.9 — 27,821.6 Due to corporate customers 2,340.2 2,258.7 815.5 1,412.4 9,974.3 — 16,801.1 Debt securities in issue 5.6 148.0 127.1 212.0 19.9 — 512.6 Deferred tax liability — — — — — 36.8 36.8 Liabilities related to insurance contracts 85.9 253.0 219.0 367.8 977.2 — 1,902.9 Other liabilities 1,073.3 185.0 62.5 81.6 147.7 9.4 1,559.5 Subordinated debt — 2.2 23.5 99.2 285.1 — 410.0 Total liabilities 8,650.9 6,895.1 3,420.2 4,990.3 29,678.9 46.2 53,681.6 Net liquidity gap 3,818.3 (425.0) 2,657.1 8,136.1 (9,218.7) 2,205.7 7,173.5 Cumulative liquidity gap as at 31 December 2024 3,818.3 3,393.3 6,050.4 14,186.5 4,967.8 7,173.5 —
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 47 15 Contingencies and Commitments Legal proceedings. From time to time in the normal course of business, claims against the Group are received. On the basis of its own estimates and external professional advice the Management is of the opinion that no material losses will be incurred in respect of the claims in excess of the amounts already charged in these interim condensed consolidated financial statements. Credit related commitments and performance guarantees. Outstanding c redit related commitments and performance guarantees are as follows: in billions of Russian Roubles 30 September 2025 (unaudited) 31 December 2024 Undrawn credit lines and overdrafts 10,034.7 8,952.0 Commitments to extend guarantees 2,645.4 2,489.2 Guarantees issued: - Financial guarantees 1,373.0 1,229.6 - Performance guarantees 1,146.0 1,171.4 Import letters of credit and letters of credit for domestic settlements, and export letters of credit with credit risk 538.3 532.8 Total credit related commitments and performance guarantees before credit loss allowance / provision 15,737.4 14,375.0 Credit loss allowance / provision (73.5) (76.4) Total credit related commitments and performance guarantees 15,663.9 14,298.6 The total outstanding contractual amount of undrawn credit lines, commitments to extend credit and guarantees, letters of credit and guarantees issued does not necessarily represent future cash payments, as these instruments may expire or terminate without any payments being made. 16 Fair Value Disclosures Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique: • Level 1: quoted (unadjusted) prices in active markets for identical assets or liabilities; • Level 2: techniques for which all inputs which have a signif icant effect on the recorded fair value are observable, either directly or indirectly; • Level 3: techniques which use inputs which have a significant effect on the recorded fair value that are not based on observable market data.
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 48 16 Fair Value Disclosures (continued) The following table shows an analysis of assets carried at fair value or revalued amount by level of the fair value hierarchy as at 30 September 2025: (unaudited) in billions of Russian Roubles Level 1 Level 2 Level 3 Total Assets carried at fair value or revalued amount Cash and cash equivalents — 27.0 — 27.0 Due from banks — 929.0 — 929.0 Derivative financial assets — 160.4 0.3 160.7 Loans and advances to customers — — 3,586.8 3,586.8 - Project finance loans to legal entities — — 2,946.5 2,946.5 - Commercial loans to legal entities — — 636.4 636.4 - Consumer and other loans to individuals — — 3.9 3.9 Securities - Securities measured at fair value through other comprehensive income 4,509.9 156.5 328.4 4,994.8 Russian federal loan bonds (OFZ bonds) 4,414.1 — — 4,414.1 Mortgage-backed securities — — 321.5 321.5 Corporate bonds 84.7 26.3 — 111.0 Russian Federation Eurobonds 7.0 100.4 — 107.4 Foreign government and municipal bonds — 29.2 6.7 35.9 Russian municipal and subfederal bonds 4.1 0.6 — 4.7 Corporate shares and other equity instruments — — 0.2 0.2 - Securities mandatorily measured at fair value through profit or loss 792.7 110.0 72.7 975.4 Corporate bonds 255.3 37.8 41.5 334.6 Russian federal loan bonds (OFZ bonds) 275.8 5.1 24.0 304.9 Corporate shares and other equity instruments 252.1 37.4 1.8 291.3 Russian Federation Eurobonds 1.7 26.0 — 27.7 Investments in mutual funds 3.6 0.8 5.4 9.8 Russian municipal and subfederal bonds 3.8 2.3 — 6.1 Mortgage-backed securities 0.2 0.6 — 0.8 Foreign government and municipal bonds 0.2 — — 0.2 - Securities designated at fair value through profit or loss 669.9 112.9 0.5 783.3 Russian federal loan bonds (OFZ bonds) 497.3 — — 497.3 Corporate bonds 146.8 89.7 0.3 236.8 Russian Federation Eurobonds 11.2 17.9 — 29.1 Russian municipal and subfederal bonds 14.6 5.3 — 19.9 Investments in mutual funds — — 0.2 0.2 Securities pledged under repurchase agreements - Securities measured at fair value through other comprehensive income 495.2 28.9 557.8 1,081.9 Mortgage-backed securities — — 557.8 557.8 Russian federal loan bonds (OFZ bonds) 388.2 — — 388.2 Corporate bonds 106.5 24.4 — 130.9 Russian municipal and subfederal bonds 0.3 4.5 — 4.8 Russian Federation Eurobonds 0.2 — — 0.2 - Securities mandatorily measured at fair value through profit or loss 0.2 0.1 — 0.3 Corporate shares and other equity instruments 0.1 0.1 — 0.2 Corporate bonds 0.1 — — 0.1 Investments in associates and joint ventures designated at fair value through profit or loss — — 34.5 34.5 Investment property — — 110.6 110.6 Office premises — — 268.3 268.3 Precious metals — 174.9 — 174.9 Total assets carried at fair value or revalued amount 6,467.9 1,699.7 4,959.9 13,127.5
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 49 16 Fair Value Disclosures (continued) The following table shows an analysis of assets carried at fair value or revalued amount by level of the fair value hierarchy as at 31 December 2024: in billions of Russian Roubles Level 1 Level 2 Level 3 Total Assets carried at fair value or revalued amount Cash and cash equivalents — 17.8 — 17.8 Due from banks — 1,118.0 — 1,118.0 Derivative financial assets — 174.6 0.3 174.9 Loans and advances to customers — — 2,920.6 2,920.6 - Project finance loans to legal entities — — 2,363.0 2,363.0 - Commercial loans to legal entities — — 556.4 556.4 - Consumer and other loans to individuals — — 1.2 1.2 Securities - Securities measured at fair value through other comprehensive income 4,155.2 133.8 235.6 4,524.6 Russian federal loan bonds (OFZ bonds) 3,923.1 11.3 — 3,934.4 Mortgage-backed securities — — 210.1 210.1 Corporate bonds 152.6 53.0 2.0 207.6 Russian Federation Eurobonds 75.3 38.8 — 114.1 Foreign government and municipal bonds — 25.7 23.3 49.0 Russian municipal and subfederal bonds 4.2 5.0 — 9.2 Corporate shares and other equity instruments — — 0.2 0.2 - Securities mandatorily measured at fair value through profit or loss 537.8 128.5 37.6 703.9 Corporate shares and other equity instruments 214.0 38.0 3.0 255.0 Corporate bonds 161.0 44.6 31.4 237.0 Russian federal loan bonds (OFZ bonds) 154.4 21.5 — 175.9 Russian Federation Eurobonds 4.9 19.0 — 23.9 Russian municipal and subfederal bonds 3.1 2.5 — 5.6 Investments in mutual funds 0.4 1.7 3.0 5.1 Mortgage-backed securities — 1.2 — 1.2 Foreign government and municipal bonds — — 0.2 0.2 - Securities designated at fair value through profit or loss 419.6 104.4 0.5 524.5 Russian federal loan bonds (OFZ bonds) 325.5 — — 325.5 Corporate bonds 62.8 80.4 0.3 143.5 Russian Federation Eurobonds 18.8 17.2 — 36.0 Russian municipal and subfederal bonds 12.5 6.8 — 19.3 Investments in mutual funds — — 0.2 0.2 Securities pledged under repurchase agreements - Securities measured at fair value through other comprehensive income 958.5 — 446.1 1,404.6 Russian federal loan bonds (OFZ bonds) 952.4 — — 952.4 Mortgage-backed securities — — 446.1 446.1 Corporate bonds 6.1 — — 6.1 - Securities mandatorily measured at fair value through profit or loss 0.4 — 3.0 3.4 Investments in mutual funds — — 3.0 3.0 Corporate shares and other equity instruments 0.4 — — 0.4 Investments in associates and joint ventures designated at fair value through profit or loss — — 24.3 24.3 Investment property — — 48.1 48.1 Office premises — — 267.6 267.6 Precious metals — 114.7 — 114.7 Total assets carried at fair value or revalued amount 6,071.5 1,791.8 3,983.7 11,847.0
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 50 16 Fair Value Disclosures (continued) The following table shows fair values of financial assets for which fair values are disclosed , by level of the fair value hierarchy as at 30 September 2025: Carrying value Fair value (unaudited) in billions of Russian Roubles Level 1 Level 2 Level 3 Total Financial assets for which fair values are disclosed Cash and cash equivalents 3,003.5 503.1 2,500.4 — 3,003.5 Mandatory cash balances with central banks 172.8 — 172.8 — 172.8 Due from banks 825.1 — 825.1 — 825.1 Loans and advances to customers - Loans to corporate customers 25,140.8 — — 24,717.5 24,717.5 - Loans to individuals 17,360.6 — — 16,967.7 16,967.7 Securities measured at amortized cost 1,887.8 1,504.5 305.8 9.8 1,820.1 Securities pledged under repurchase agreements 91.3 84.8 4.6 — 89.4 Investments in associates and joint ventures accounted for using equity method 32.4 — — 32.4 32.4 Other financial assets 424.3 — — 424.3 424.3 Total financial assets for which fair values are disclosed 48,938.6 2,092.4 3,808.7 42,151.7 48,052.8 The following table shows fair values of financial assets for which fair values are disclosed, by level of the fair value hierarchy as at 31 December 2024: Carrying value Fair value in billions of Russian Roubles Level 1 Level 2 Level 3 Total Financial assets for which fair values are disclosed Cash and cash equivalents 2,234.4 567.5 1,666.9 — 2,234.4 Mandatory cash balances with central banks 152.1 — 152.1 — 152.1 Due from banks 1,497.5 — 1,497.5 — 1,497.5 Loans and advances to customers - Loans to corporate customers 23,715.5 — — 22,543.0 22,543.0 - Loans to individuals 17,205.8 — — 15,163.7 15,163.7 Securities measured at amortized cost 1,264.7 760.9 344.1 0.1 1,105.1 Securities pledged under repurchase agreements 26.3 23.3 0.2 — 23.5 Investments in associates and joint ventures accounted for using equity method 33.6 — — 33.6 33.6 Other financial assets 677.8 — — 677.8 677.8 Total financial assets for which fair values are disclosed 46,807.7 1,351.7 3,660.8 38,418.2 43,430.7
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 51 16 Fair Value Disclosures (continued) Level 2 assets carried at fair value include short term liquid balances due from banks, debt securities of first -class issuers and derivative financial instruments that are not actively traded on the market. Fair value of these financial instruments was calculated using techniques for which all inputs with a significant effect on the recorded fair value are directly or indirectly observable on the active market. Financial characteristics of comparable financial instruments actively traded on the market were used as inputs for the fair valuation models. The following table shows an analysis of financial liabilities carried at fair value by level of the fair value hierarchy as at 30 September 2025: (unaudited) in billions of Russian Roubles Level 1 Level 2 Level 3 Total Financial liabilities carried at fair value Due to banks designated at fair value through profit or loss — 912.8 — 912.8 Derivative financial liabilities — 137.9 0.2 138.1 Obligation to deliver securities 129.4 2.8 — 132.2 Russian federal loan bonds (OFZ bonds) 124.4 — — 124.4 Russian Federation Eurobonds 1.5 2.7 — 4.2 Corporate shares and other equity instruments 1.9 — — 1.9 Corporate bonds 1.6 0.1 — 1.7 Due to individuals designated at fair value through profit or loss — 402.2 4.1 406.3 Due to corporate customers designated at fair value through profit or loss — 166.2 — 166.2 Debt securities in issue measured at fair value through profit or loss — 172.2 12.2 184.4 Total financial liabilities carried at fair value 129.4 1,794.1 16.5 1,940.0
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 52 16 Fair Value Disclosures (continued) The following table shows an analysis of financial liabilities carried at fair value by level of the fair value hierarchy as at 31 December 2024: in billions of Russian Roubles Level 1 Level 2 Level 3 Total Financial liabilities carried at fair value Due to banks designated at fair value through profit or loss — 639.3 — 639.3 Derivative financial liabilities — 190.7 3.2 193.9 Obligation to deliver securities 109.3 1.2 — 110.5 Russian federal loan bonds (OFZ bonds) 101.6 — — 101.6 Investments in mutual funds 3.4 — — 3.4 Corporate shares and other equity instruments 2.6 — — 2.6 Corporate bonds 1.7 0.8 — 2.5 Russian Federation Eurobonds — 0.4 — 0.4 Due to individuals designated at fair value through profit or loss — 360.1 5.5 365.6 Due to corporate customers designated at fair value through profit or loss — 75.3 — 75.3 Debt securities in issue measured at fair value through profit or loss — 85.7 20.6 106.3 Total financial liabilities carried at fair value 109.3 1,352.3 29.3 1,490.9 The following table shows fair values of financial liabilities for which fair values are disclosed, by level of the fair value hierarchy as at 30 September 2025: Carrying value Fair value (unaudited) in billions of Russian Roubles Level 1 Level 2 Level 3 Total Financial liabilities for which fair values are disclosed Due to banks 2,650.8 — 2,650.9 — 2,650.9 Due to individuals - Current / demand accounts 11,941.5 — 11,941.5 — 11,941.5 - Term deposits and direct repo agreements 17,973.1 — 3.7 17,830.6 17,834.3 Due to corporate customers - Current / demand accounts 3,297.6 — 3,297.6 — 3,297.6 - Term deposits and direct repo agreements 14,092.5 — 13.4 13,994.2 14,007.6 Debt securities in issue 379.2 — 180.8 187.1 367.9 Other financial liabilities 1,278.3 — — 1,278.3 1,278.3 Subordinated debt 519.7 — 50.2 460.3 510.5 Total financial liabilities for which fair values are disclosed 52,132.7 — 18,138.1 33,750.5 51,888.6
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 53 16 Fair Value Disclosures (continued) The following table shows fair values of financial liabilities for which fair values are disclosed, by level of the fair value hierarchy as at 31 December 2024: Carrying value Fair value in billions of Russian Roubles Level 1 Level 2 Level 3 Total Financial liabilities for which fair values are disclosed Due to banks 3,693.4 — 3,693.5 — 3,693.5 Due to individuals - Current / demand accounts 11,388.2 — 11,388.2 — 11,388.2 - Term deposits and direct repo agreements 16,067.8 — 3.8 15,837.6 15,841.4 Due to corporate customers - Current / demand accounts 3,170.6 — 3,170.6 — 3,170.6 - Term deposits and direct repo agreements 13,555.2 — 38.6 12,944.1 12,982.7 Debt securities in issue 406.3 — 190.8 186.2 377.0 Other financial liabilities 1,282.9 — — 1,282.9 1,282.9 Subordinated debt 410.0 — 44.1 349.1 393.2 Total financial liabilities for which fair values are disclosed 49,974.4 — 18,529.6 30,599.9 49,129.5 The following describes the methodologies and assumptions used to determine fair values for financial instruments. Derivatives Derivative in the Group's portfolio are mainly represented by currency swaps, interest rate swaps and options. To evaluate them, models are used that comply with market standards for evaluating instruments of this type. Linear instruments such as swaps and forwards are evaluated using the discounted cash flow method. To evaluate options, models are used that take into account the non -linearity of payments, such as the Black -Scholes, Bachelier models and local volatility depending on the type of option. As market data, data applicable to the domestic market is used for evaluation. This data includes the credit quality of counterparties, exchange rates, interest rate curves, volatility, etc. Securities measured at fair value through profit or loss and securities measured at fair value thr ough other comprehensive income For non-tradable securities measured at fair value through profit or loss or other comprehensive income, fair value measurement models are used, which primarily use observable market data, including the method of analogues. The non-observable inputs to the models include assumptions regarding the future financial performance of the investee, its risk profile, and economic assumptions regarding the industry and geographical jurisdiction in which the investee operates, and other necessary adjustments.
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 54 17 Related Party Transactions For the purposes of these interim condensed consolidated financial statements, parties are considered to be related if one party has the ability to control the other party, is under common control, or can exercise significant influence over the other party in making financial or operational decisions. In considering each possible related party relationship, attention is directed to the substance of the relationship, not merely the legal form. The Bank’s principal shareholder and the ultimate controlling party is the Russian Federation represented by the Government of the Russian Federation (the “Government”). Refer to Note 1. As at 30 September 2025, the outstanding balances with the Government (for the purposes of this Note including its federal ministries, services and agencies) and associated companies, joint ventures and other related parties were as follows: 30 September 2025 (unaudited) in billions of Russian Roubles The Government Associates, joint ventures and other related parties Assets Loans and advances to customers before credit loss allowance — 145.8 Credit loss allowance — (7.7) Securities 6,431.6 — Securities pledged under repurchase agreements 391.7 — Other assets 5.4 3.0 Liabilities Due to corporate customers 5,435.5 21.8 Subordinated debt 94.4 — Other liabilities 21.4 0.5 Credit related commitments Guarantees issued — 1.3 Undrawn credit lines — 42.2 Commitments to extend guarantees — 3.2 As at 30 September 2025 , the outstanding amount of perpetual subordinated debt received from the Ministry of Finance amounted to RR 150.0 billion (31 December 2024: RR 150.0 billion). In May 2025 the Bank attracted the subordinated deposit from the Federal Treasury with maturity date in 2049. As at 30 September 2025 the balance of subordinated deposit attracted from the Federal Treasury was RR 94.4 billion.
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 55 17 Related Party Transactions (continued) As at 31 December 2024, the outstanding balances with the Government and associated companies, joint ventures and other related parties were as follows: 31 December 2024 in billions of Russian Roubles The Government Associates, joint ventures and other related parties Assets Loans and advances to customers before credit loss allowance — 157.5 Credit loss allowance — (12.2) Securities 5,092.3 — Securities pledged under repurchase agreements 968.8 — Other assets 6.3 5.4 Liabilities Due to corporate customers 4,302.3 27.4 Other liabilities 0.3 6.1 Credit related commitments Guarantees issued — 5.6 Undrawn credit lines — 28.7 Commitments to extend guarantees — 7.6 The income and expense items with the Government and associated companies, joint ventures and other related parties for the nine months ended 30 September 2025 are disclosed below: Nine months ended 30 September 2025 (unaudited) in billions of Russian Roubles The Government Associates, joint ventures and other related parties Interest income 709.2 20.4 Interest expense (541.3) (3.5) Fee and commission income 0.4 2.3 Fee and commission expense — (1.8) Revenue of non-core business activities 0.1 0.3 Other net income — 2.7 Staff and administrative expenses — (0.6) The income and expense items with the Government and associated companies, joint ventures and other related parties for the three months ended 30 September 2025 are disclosed below: Three months ended 30 September 2025 (unaudited) in billions of Russian Roubles The Government Associates, joint ventures and other related parties Interest income 241.6 4.9 Interest expense (176.4) (0.3) Fee and commission income 0.2 0.7 Fee and commission expense — (0.5) Revenue of non-core business activities 0.1 — Other net income — 1.4
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 56 17 Related Party Transactions (continued) The income and expense items with the Government and associated companies, joint ventures and other related parties for the nine months ended 30 September 2024 are disclosed below: Nine months ended 30 September 2024 (unaudited) in billions of Russian Roubles The Government Associates, joint ventures and other related parties Interest income 535.4 6.2 Interest expense (376.4) (3.4) Fee and commission income 0.1 1.5 Fee and commission expense — (0.3) Revenue of non-core business activities 0.4 0.4 Costs and other expenses of non-core business activities — (0.1) Other net income — 0.9 Staff and administrative expenses — (1.0) The income and expense items with the Government and associated companies, joint ventures and other related parties for the three months ended 30 September 2024 are disclosed below: Three months ended 30 September 2024 (unaudited) in billions of Russian Roubles The Government Associates, joint ventures and other related parties Interest income 189.8 2.6 Interest expense (132.7) (1.4) Fee and commission income — 0.5 Fee and commission expense — (0.2) Revenue of non-core business activities 0.4 0.4 Costs and other expenses of non-core business activities — (0.1) Other net (expense) / income (0.1) 0.3 Staff and administrative expenses — (0.6)
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 57 17 Related Party Transactions (continued) Remuneration of the key management personnel . Key management personnel are individuals authorized and responsible for the planning, management and control over the Group activities. In 2024 the Group aligned perimeter of the key management personnel to the roles and powers of Group top-management taking into account goals and objectives stated within the framework of Group Development Strategy and continuing diversification of business lines of the Group . Key management personnel include members of the Supervisory Board and the Executive Board of PJSC Sberbank, senior vice -presidents including the heads of business units of PJSC Sberbank, branches management of PJSC Sberbank - chairmen of regional head offices and their deputies, chairmen of the collegial bodies of PJSC Sberbank and their deputies. Starting from consolidated financial statements for 2024 the Group presents information concerning remuneration of the members of the key management personnel in accordance with an updated perimeter of the key management personnel. The comparative informat ion for the nine months and three months ended 30 September 2024 was recalculated accordingly. The table below discloses information concerning remuneration of the members of the key management personnel excluding insurance premiums to the state fund prese nted in staff and administrative expenses in the interim consolidated statement of profit or loss for the nine months ended 30 September 2025 and 30 September 2024: (unaudited) Nine months ended 30 September in billions of Russian Roubles 2025 2024 Short-term remuneration including salaries and bonuses 9.0 7.7 Share-based long-term cash settled compensation 5.1 4.1 Share-based long-term equity settled compensation 5.6 6.6 The table below discloses information concerning remuneration of the members of the key management personnel excluding insurance premiums to the state fund presented in staff and administrative expenses in the interim consolidated statement of profit or loss for the three months ended 30 September 2025 and 30 September 2024: (unaudited) Three months ended 30 September in billions of Russian Roubles 2025 2024 Short-term remuneration including salaries and bonuses 3.7 2.9 Share-based long-term cash settled compensation 1.3 1.4 Share-based long-term equity settled compensation 1.8 2.9 In the normal course of business the Group provides full range of bank services to key management personnel which includes, but is not limited to, credit lending and deposit taking, securities trading, cash and settlements transactions, on market terms. In case of operations with key management pe rsonnel beyond the normal course of business and/or concluded on non -market terms which have a significant impact on the interim condensed consolidated financial statements of the Group, such operations are disclosed by the Group. Government bodies and state-related entities. In the normal course of business, the Group enters into contractual agreements with government bodies and entities over which government bodies exercise control, joint control or have significant influence over. The Group provides these clients with a full range of banking services including, but not limited to, lending, deposit -taking, issue of guarantees, operations with securities, cash and settlement transactions. Operations with these clients are generally carried out on market terms. The Group discloses operations with State -Controlled Entities and Government Bodies that go beyond the normal course of business activity of the Group, and/or operations that are concluded on non -market terms and have a significant impact on the consolidated financial statements of the Group. As at 30 September 2025 , carrying amount of subordinated debt received from the Bank of Russia amounted to RR 365.9 billion (31 December 2024: RR 349.1 billion).
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 58 18 Capital Adequacy Ratio The Group’s capital management has the following objectives: (i) to comply with the regulatory capital requirements set by the Bank of Russia and (ii) to ensure the Group’s ability to continue as a going concern. According to requirements set by the Bank of Russia regulatory capital ratio N1.0 has to be maintained by the Bank above the minimum level of 8.0% (31 December 2024: 8.0%). For the purposes of regulatory capital adequacy ratios calculation the Bank applies the requirements of the Bank of Russia wh ich were issued by the regulator to adopt in the Russian Federation the requirements of the Basel Committee for Banking Supervision known as “Basel 3.5”. The total regulatory capital of the Bank and regulatory capital adequacy ratios of the Bank as at 30 September 2025 and 31 December 2024 are disclosed below: in billions of Russian Roubles 30 September 2025 (unaudited) 31 December 2024 Total capital 7,283.9 6,929.0 Common equity adequacy ratio N1.1, % 9.8 11.0 Tier 1 capital adequacy ratio N1.2, % 10.1 11.3 Total capital adequacy ratio N1.0, % 12.9 12.9 The Bank of Russia also sets the requirements to regulatory capital ratio of the Group (N20.0). As at 30 September 2025 regulatory capital ratio N20.0 including maximal add-ons has to be maintained by the Gro up above the minimum level of 12.0% (31 December 2024: above 11.5%). The Group complied with these requirements. The Bank calculates capital adequacy ratios using internal ratings -based (“IRB”) approach for part of certain classes of financial instruments: Loans to corporate customers; Loans to individuals; Debt securities; Derivatives; Credit related commitments. The Group also monitors capital adequacy ratio on consolidated level based on requirements of Basel Committee for Banking Supervision. According to Basel Committee for Banking Supervision requirements minimum level of capital adequacy ratio is 6.0% for Tier 1 capital and 8.0% for total capital. For assessment of credit risk in calculation of capital adequacy ratio on consolidated level the Group applies IRB approach for certain part of financial instruments for which IRB approach is applied in regulatory reports. The Group applies Basel 3.5 requirements for all assets in calculation of capital adequacy ratios on consolidated level. Principles and methodology of IRB approach implementation for the purposes of calculation of regulatory capital adequacy ratios and capital adequacy ratios on consolidated level are aligned and reflect Russian regulatory interpretation of Basel 3.5 requirements.
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Selected Notes to the Interim Condensed Consolidated Financial Statements – 30 September 2025 59 18 Capital Adequacy Ratio (continued) Principles and methodology of standardized approach implementation for the purposes of calculation of regulatory capital adequacy ratios and capital adequacy ratios on consolidated level are aligned in cases where Basel 3 .5 requirements allow to apply such national regulatory requirements. In particular, such approach was used for the following main types of assets: government and municipal debt financial instruments of the Russian Federation and its subjects nominated and funded in Russian Roubles; specific types of loans to which higher risk weights are applied in accordance with the Bank of Russia requirements; correspondent accounts and mandatory cash balances with the Bank of Russia. Additionally, such aligned approach to the calculation of risk weighted assets on credit risk for the purpose of calculation of regulatory capital adequacy ratio and capital adequacy ratio on consolidated level includes: application of the macroprudential adjustments to the risk coefficients for both standardized and IRB approaches; application by the Group members —non-residents of the macroprud ential adjustments to the risk coefficients in case they are set up by their national regulators; application of other regulatory requirements of the Bank of Russia to risk coefficients applied; the element of potential credit risk on derivative financial instruments is calculated in accordance with the requirements of Basel 2. For counterparties-banks the Group applies Standardized Credit Risk Assessment Approach (SCRA), based on ABC grades. The capital adequacy ratio of the Group as at 30 September 2025 and 31 December 2024 calculated in accordance with the Basel Committee for Banking Supervision requirements is disclosed below: in billions of Russian Roubles 30 September 2025 (unaudited) 31 December 2024 Common equity Tier 1 capital 6,943.2 6,428.5 Tier 1 capital 7,093.2 6,578.5 Tier 2 capital 436.3 222.1 Total capital 7,529.5 6,800.6 Total risk weighted assets (RWA) 55,307.9 52,977.2 Common equity Tier 1 capital adequacy ratio (Common equity Tier 1 capital / Total RWA), % 12.6 12.1 Tier 1 capital adequacy ratio (Tier 1 capital / Total RWA), % 12.8 12.4 Total capital adequacy ratio (Total capital / Total RWA), % 13.6 12.8 The Group was in compliance with external capital requirements during the nine months ended 30 September 2025 and the year ended 31 December 2024. 19 Subsequent Events There were no subsequent events required to be disclosed from 30 September 2025 to the release date of these interim condensed consolidated financial statements.