Fitch Affirmed Credit Bank of Moscow at 'BB-'
11.06.2018
Fitch8 June 2018 — Fitch Ratings has affirmed Credit Bank of Moscow’s Long-Term Issuer Default Ratings (IDRs) at ’BB-’; Short-Term Issuer Default Rating at ‘B’; Viability Rating at ‘b+’; Rating Support at ‘4’, Stable Outlook,.
The Agency noted positive changes in some of the Bank’s loan portfolio risk metrics. Risky assets as assessed by the Agency decreased by notable 35% as at 31 March 2018 compared to 30 September 2017. Besides that, NPL90+ are equal to a low 2% of gross loans and fully covered by reserves. The Bank has improved its risk profile significantly by working efficiently on potentially problem loans and adopting a more conservative provisioning approach.
Appraising the Bank’s risk profile, the Agency notes that its robust pre-impairment profit provides considerable protection against potential credit losses.
The Agency also gives a positive assessment of the Bank’s liquidity and funding profiles calling them ‘comfortable’.