OREANDA-NEWS. November 05, 2009. RusRating assigns credit rating of BB (stable outlook) to Tavricheski Bank (St. Petersburg).

According to senior RusRating analyst Larisa Makarenko, positive factors include a stable client base, healthy capital adequacy, the contribution of shareholders to growth and healthy reserves of highly-liquid assets.

Potentially destabilising factors include risks associated with a funding base and loan book concentrated by individual (major) client and narrow market positions plus the rising cost and relative weight of paid resources coupled with a fall in working assets.

OAO Bank Tavricheski is a mid-sized private-sector bank that operates mainly in St. Petersburg and the surrounding Leningrad region. The bulk of equity is in the hands of a wide range of private individuals; SpareBank 1 Nord-Norge, a major Norwegian bank, holds a minority stake. Operations focus on serving larger and mid-sized corporate clients and their employees. Financial and securities market activity is minimal. The Bank’s strategy calls for expanding its corporate business and developing a retail presence with an emphasis on personal deposits and plastic card services.