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Moody's affirms BANK URALSIB OAO ratings


Tuesday, 10 Jun 2014 06:55am EDT 

BANK URALSIB OAO:Moody's Investors Service has affirmed Bank Uralsib's B2 long-term global local- and foreign-currency deposit ratings with a negative outlook.At the same time, Moody's affirmed the bank's standalone financial strength rating (BFSR) of E+, equivalent to a baseline credit assessment (BCA) of b2, and the Not-Prime short-term local- and foreign-currency deposit ratings.The outlook on the bank's BFSR remains stable.Moody's affirmation of Bank Uralsib's ratings is primarily based on the bank's audited financial statements for 2013, prepared under IFRS.The negative outlook on long-term ratings reflects Moody's expectation that the bank's capital profile will likely remain under pressure over the next 12-18 months.In addition, the negative outlook on the long-term ratings reflects some weakening of Bank Uralsib's franchise, as the bank's loan book recorded growth of just 4.6 pct during 2013 compared to the market average of 17 pct.In addition, uncertainty with regard to the bank's ability to allocate capital to core banking business could prompt further erosion of Bank Uralsib's market share. 

Company Quote

0.0284
-5.0E-4 -1.73%
4:42am EDT