RusRating ups SKB-Bank’s credit rating at BB-

5 February 2008 (09:19)

RusRating confirmed credit ratings of Russian banks on February 1, 2008. SKB-Bank’s credit rating was confirmed at BB-, which is better than the rating of many large Moscow-based banks. SKB-Bank’s rating was originally confirmed by the agency at B+ in August 2006 and was promoted 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.

'SKB-Bank’s rating can also be explained by the nice development rate, strong support of financially independent proprietors, and good further growth potential. The bank’s Rating Outlook is Stable,’ RusRating’s analysts report.

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