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News and events

24 may

Expert RA Assigns its ruA- Rating to Expobank

Expert RA has assigned credit rating of ruА-, Outlook Positive to Expobank LLC.

The Bank’s asset quality, liquidity, equity cushion and corporate governance standards were rated high. Return on the Bank’s assets and the operational efficiency results were assessed as high (profit after tax ROE for the period from 01 April 2018 to 01 April 2019 equaled 14% as per RAS financial statements).

The quality of corporate governance corresponds to the scale of the Bank’s operation and its lines of business. The strategic planning effectiveness is assessed by the Agency as high.

Alexey Sannikov, Cahirman of the Management Board, said: “High evaluation of our activities proves the efficiency of the operation and adopted strategy. The assigned rating opens up new opportunities for the Bank’s business expansion. It should be pointed out the Bank will keep focusing on the intensive development of the retail niches, lending in particular, and of the guarantee business. At the moment our goal is to concentrate on the synergy with Kurskprombank PJSC and to improve customer and client service, and also to expand our geographic footprint”.

During the past year, ratings from ACRA and Fitch Ratings were affirmed, with the respective outlooks upgraded. In September 2018, Fitch Ratings affirmed Expobank’s Long-Term IDRs at ‘B+’ upgrading the Outlook to Positive from Stable. Analytical Credit Rating Agency (ACRA) affirmed Expobank LLC’s credit rating at ВВВ+(RU), revising the Outlook to Positive from Stable. According to analysts, the contributing factors were high capital adequacy and strong liquidity and funding positions.