Fitch Ratings has revised the Outlook on Long-Term Issuer Default Ratings (IDRs) of Expobank LLC from Stable to Positive, affirming the ratings at ‘B+’.
The agency pointed out good asset quality, interest margin increase, stable capitalization and comfort liquidity. The Bank has adequate risk-underwriting and controls in place and the track record so far has been good. Provided that this trend continues, the Bank’s Viability Rating (VR), and consequently Long-Term IDRs, could be upgraded.
CEO of Expobank LLC Alexey Sannikov said, “The Outlook upgrade confirms that our strategy is correct. We are glad to have a positive independent rating. In the changing market environment, our team makes coordinated and timely decisions for the Bank’s business development”.
The revision of the Outlook reflects Fitch‘s expectation that the Bank’s credit profile is likely to improve over the medium-term as it continues to execute its strategy of balanced organic growth.