RusRating Assigns Credit Rating of BB- to Gazenergobank
OREANDA-NEWS. November 05, 2009. RusRating assigns credit rating of BB- (stable outlook) to Gazenergobank (
According to RusRating analyst Svetlana Osipova, positive factors include the unconditional backing of ProbusinessBank and the Deposit Insurance Agency under a rehabilitation programme plus a decent capital base.
Potentially destabilising factors include the large percentage of funding drawn from retail deposits, which are sensitive to potential negative reports about the Bank; a possible decline in loan book quality; the unstable structure of revenues and expenditures; and low profitability.
OAO Gazenergobank is a smaller (by assets) private-sector regional bank and a member of the LIFE group, which also includes Express-Volga Bank (Saratov), VUZ-Bank (Yekaterinburg), Ivanovski Oblastnoi Bank (Ivanovo), Bank24.ru (Yekaterinburg) and Moscow-based ProbusinessBank, the major national financial institution at the head of the group. Gazenergobank itself focuses on loans and other services for corporate and retail clients, mainly in the
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