Fitch Affirms Expobank’s Rating at ‘B+’ Outlook Stable

Fitch Ratings, London/Moscow, has affirmed Expobank LLC’s Long-Term Issuer Default Rating (IDR) at ‘B+’, National Long-Term Rating – at ‘A-(rus)’, Outlook Stable. The ratings reflect the Bank’s high return on equity and capital adequacy, and its low need for refinancing from the market.

According to Fitch Ratings experts, Expobank has a reasonable approach to implementation of M&A deals. In support of this, reference is made to the acquisition of the Russian subsidiary of The Royal Bank of Scotland in H1 2016. Expobank closed the transaction on 01 April 2016, and successful legal and technological integration of the asset was completed on 01 August 2016.

CEO of Expobank Alexey Sannikov says, “Confirmation of the ratings reflects profitability of the Bank, high quality of its assets, and takes into account its solid liquidity cushion”.

The Bank has been rated high by leading rating agencies. In April 2016, RusRating upgraded its outlook for Expobank’s credit ratings from ‘Stable’ to ‘Improvement Possible’, while credit ratings were affirmed at “AA-” (National Scale) and “BBB-” (International Scale).

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