OREANDA-NEWS. National Rating Agency has lowered its credit rating on Kapitalbank JSCB OJSC to 'B'. The outlook for the rating is Negative. The bank was assigned NRA's first-time credit rating of 'BBB+' on Aug. 8, 2015.

The credit rating downgrade reflects the earlier-noted credit risk, that has materialised in the current economic environment. In addition, Kapitalbank has been disconnected from the Banking Electronic Speedy Payment (BESP) system, which increased its exposure to the regulatory and reputation risks.

The Rostov-on-Don-based Kapitalbank JSCB OJSC was founded in 1993. Its key owners, till 2011, were K.N. Senyaninov, the Chairman of the Board of Directors, and I.N. Ryzhkina, the Chairperson of the Management Board. In 2011, the bank acquired new shareholders - several businesspeople from EU countries with interests in the financial services, real estate and mass media sectors. In early 2015, Kapitalbank acquired new investors with interests and considerable experience in the financial sector.

Kapitalbank is a member of various professional union and associations. It became a member bank of the deposit insurance framework (Reg. No. 215) on Nov. 25, 2004.