OREANDA-NEWS. November 12, 2008. RusRating has noted that decision of the Bank’s owner Mikail Shishkhanov to resume direct control is, without doubt, the most effective solution under current market conditions and provides further confirmation of his strong commitment to the Bank and its future growth, reported the press-centre of B.I.N.BANK.

In the agency’s opinion, capital of the Bank is sufficient, external funding is reasonably well diversified and moderately solid in the medium term. Balance sheet measures of asset quality are rated favorably. Liquidity is judged healthy.

Positive factors include high probability of governmental support (access to credit resources), the unconditional backing of the Bank by its major shareholder, high current liquidity and healthy capitalization, stable relations with an established circle of corporate clients and existing market positions.

Financial status of the Bank is defined by strong liquidity with the relevant CBR prudential ratios well over their respective thresholds: N2 (instant liquidity) stands at 104% (min. 15%), N3 (current liquidity) at 141% (min. 50%) and N4 (long-term liquidity) at 58% (max. 120%). Capitalization is also healthy, in particular, due to a subordinated loan extended by the Bank’s principal shareholder which was included in the CBR measure of capital. Current N1 (capital adequacy) stands at 17.5% (min. 10%) and provides the Bank with moderate scope for asset growth in the medium term.

External funding has remained virtually unchanged (-1%). There was only a slight outflow of corporate client resources (- 2% in total), which was offset by higher balances on Loro accounts held for other Russian banks (+RUB 0,34 bln.) Retail deposits still predominate in the structure of liabilities and make about 53%.

Although such resources are more than usually sensitive to macroeconomic conditions and market panics, RusRating noted that B.I.N.BANK had only a negligible outflow of retail funding (a decline of less than 1%) versus a market-wide average of 3%.