Rating Agency “RIA Rating”, included in the media group MIA “Russia today”, changed the credit rating of PJSC “BANK URALSIB” on the national scale from “AA” to “A+” rating Outlook determined as “stable”.
MOSCOW, 26 Jan./strong>. Rating Agency “RIA Rating”, included in the media group MIA “Russia today”, changed PJSC “BANK URALSIB” credit rating on national scale from “AA” to “A+”. The rating Outlook was defined as stable, previously the Outlook was “negative”.
Justification of rating
The main factor that affected the rating was the difficult financial position of the Bank, which led to his financial health, the positive effects of which (capital increase due to the monetary benefits provided at low interest rates loans the DIA and profit from the retirement of subordinated loans) allowed to partially offset the negative factors.
According to operational reports, at the end of 2015, the Bank formed a significant amount of reserves for loan portfolio and, in particular, on investments in mutual Funds and affiliated and dependent joint-stock company. According to estimates of RIA Rating, the reserve level at the beginning of 2016 to fully reflect the risks of assets, in the short to medium term the reserves will not significantly increase. This largely determines the rating Outlook as “stable”.
The growth of reserves at the end of 2015 determined the decline in equity, while the gain from the termination of the subordinated obligations allowed only to partially offset the loss from the formation of reserves. In the medium term, experts RIA Rating expect improvement in all indicators of the Bank through revenue improvement of structure of assets and liabilities, including cheap funds ACB.
High probability of rehabilitation, including assistance from the state, previously predicted by experts RIA Rating. In the future, the probability of using Bank by the new shareholder is high.
General information about Bank URALSIB
URALSIB Bank ranks among the leading Russian banks, providing retail and corporate customers a wide range of banking products and services.
URALSIB Bank has General license of the Central Bank of the Russian Federation. No. 30 September 10, 2015. The Bank since 2005 is a member of the Deposit Insurance System.
The Bank’s authorized capital on 1 October 2015 amounted to 29.8 billion rubles, net assets — 326 billion rubles. According to the ratings of RIA Rating, URALSIB Bank ranked 27th among Russian banks by assets on October 1, 2015, the volume of deposits of the population — 16 place, the volume of capital — 27th, and 33rd place in terms of loan portfolio.
Regional network of the Bank by 1 December 2015, includes 6 branches, 326 points of sale, 2 623 ATMs, payment terminals 535 and 26 048 POS-terminals.
The Bank’s auditor is JSC “KPMG”.