S&P Promotes UBRD’s Rating Outlook to Stable

14 September 2017 (09:19)

UrBC, Yekaterinburg, September 14, 2017. Standard & Poor’s promoted the Ural Bank for Reconstruction & Development’s rating outlook to Stable. The bank’s long-term and short-term credit ratings were affirmed at B-/B, the bank’s press service reports.

The rating adjustment was brought about by improvements in the bank’s financial performance indicators, mostly the ones relating to the bank’s retail loan book, and the ongoing stable performance of the bank’s corporate loan book. S&P analysts expect the bank’s business solvency to remain essentially the same in the next year, as the business assets and capitalization look very stable-performing.

‘Our financial performance dynamics proves our Strategy 2020 is the right choice. We can see a systematic improvement in our asset base thanks to good quality loan book,’ says UBRD President Anton Solovjev.

As of July 1, 2017, the bank’s assets amounted to 396bn RUR. Most of these are securities, including 64.7bn RUR worth of federal loan bonds. Corporate loan book reached 116bn RUR, liabilities and owner’s equity rose to 378.9bn RUR (mostly through an increase in the retail deposit portfolio: private individuals’ deposits grew by 3.7%, up to 174bn RUR).

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