Rosevrobank Informs on Its Development in January and February 2009
OREANDA-NEWS. April 09, 2009. In January and February 2009 Rosevrobank continued its positive development. Quality of loan portfolio remains high - NPL is less than 2.5%. Amount of trading securities increased from RUB 3.4 billion to RUB 5.6 billion (about.USD 156 million), reported the press-centre of ORGRESBANK.
Trading securities represent bills of exchange of the biggest Russian banks (Sberbank, VTB) with maturity April-May 2009. After maturity of these bills of exchange the respective cash will be used to repay foreign debts of RosEvroBank: LPN debt (maturity 19 May 2009) and syndicated loan debts (maturity 29 May 2009 and mid-June 2009).
Total amount of foreign debts to be repaid in May-June 2009 is about USD 100 million but the current level of liquidity is much higher. In fact current level of liquidity of Rosevrobank allows to repay ALL foreign debts.
Shareholders' equity of Rosevrobank increased from RUB 6.9 billion as of 31 December 2008 to RUB 7.1 billion as of 1 March 2009. RosEvroBank retains more than 14,000 corporate customers and attrracts 80-90 new customers every week. On 1 April 2009 Fitch ratings affirmed Roseurobank (REB) at Long-term IDR ‘B’, with Stable Outlook.
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