RusRating Assigned Credit Rating to Bank Vostochny Express
OREANDA-NEWS. On 26 March 2009 was announced, that according to RusRating senior analyst Larisa Makarenko, positive factors include rapid growth in market positions and a recognised brand, the possibility of support from the Bank’s owners and/or official backing, strong profits and high capital adequacy, and advanced technology. Potentially destabilising factors include negative macroeconomic trends and a corresponding rise in problem loans, a weak balance between the term structures of assets and liabilities, and external funding reliant on retail deposits.
Vostochny Express (the former Dalvneshtorgbank) is a larger private-sector regional bank that in 2001 joined the alliance headed by URSA Bank and is controlled by Igor Kim. Since 2005 it has focused on retail services, which have seen dynamic growth. The Bank has a well-developed service network that covers a substantial portion of the country and is moderately active on the interbank market. It also has experience accessing market capital both domestically and internationally.
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