RusRating Upgrades Outlook for Expobank Credit Ratings from ‘Stable’ to ‘Improvement Possible’

RusRating has upgraded the outlook for Expobank LLC credit ratings from “Stable” to “Improvement Possible”. The Bank’s national credit rating has been affirmed at “AA-” and international – at “BBB-”.

According to RusRating, factors contributing to the upgrade of the credit ratings outlook are the stable growth of the Bank’s position in the market with the quality of financials maintained and proven efficiency of the adopted development strategy.

As Alexey Sannikov, CEO of Expopbank LLC, points out, “The Bank demonstrates positive dynamics in its financials. The 2015 performance results show Expobank’s equity grew by RUB 2.6 bln. to RUB 10 bln. RoE equaled 23.1%. The upgraded outlook has its grounds, the rating agency has set us a standard and we are to meet it”.

According to RusRaring, the Bank has sufficient capital of good quality and stable liabilities, moderately diversified in structure and well – in creditors. The asset quality is assessed as good, supported by the quality of the securities portfolio, loan book and acquired receivables portfolio. Profitability figures are good due to high net interest margin, profits from the acquired receivables portfolio and low charges to provisions. Liquidity level is sufficient, liquidity risks are low. Overall risk sensitivity is moderate.

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