Fitch ratings has downgraded the rating of URALSIB to ‘ B -‘


Moscow. October 20. International rating Agency Fitch downgraded long-term Issuer default rating on liabilities in foreign currency of the Bank “URALSIB” from “b” to “B-“, citing the decline in profitability, deterioration of asset quality and capital base of the Bank.

The rating is on review for possible further downgrade, said the Agency. This reflects the opinion of Agency experts that in the short term there is a substantial risk to the Bank will be taken certain decisions, which can lead to losses for some of its creditors.

Net loss of the Bank “URALSIB” for January-September 2015 $ 5,225 billion rubles against net profit of 1,089 billion rubles in the same period last year. This is evidenced by calculations on the basis of working capital statements of the Bank published on the website of the Bank of Russia.