RusRating gives SKB-Bank BB-

8 November 2007 (10:09)

RusRating affirmed credit ratings of 43 Russian banks on November 2, 2007. SKB-Bank’s credit rating was affirmed at BB-, which is better than what quite a few Moscow banks were given. RusRating first estimated SKB-Bank’s rating at B+ in August 2006 and promoted it to BB- in July 2007. The agency’s analysts say SKB Bank’s rating is based on the fact that SKB-Bank is a medium-sized provincial bank (one of the largest in Sverdlovsk Region, though) that has been cooperating intensely with the region’s authorities for a long time. In addition, it can boast a well-developed subsidiary network, an impressive client base made up of large and medium-scale enterprises, their employees, and the region’s dwellers. SKB-Bank has been able to retain a large share of Sverdlovsk Region’s market and is now aspiring to outstrip its rivals in terms of retail services and services offered to small and medium-scale businesses.

The bank’s rating was well deserved thanks to nice growth rate, some strong support provided by the financially independent proprietors, and a nice developmental potential. RusRating reports SKB-Bank’s Rating Outlook can be seen as Stable.

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