OREANDA-NEWS. November 25, 2010. According to Victoria Belozerova, Director of Ratings and Macroeconomic Analysis at the agency, the stable outlook reflects RusRating’s assessment of the capacity and intention of the Bank’s new owners to sustain a positive development trend.

The rating itself is based on solid ties to core corporate clients, a growing market presence in retail deposits and negligible dependence on the interbank market.

Constraining factors include above-average credit risks, a concentrated corporate client base, and limited access to long-term resources.

Sotsgorbank is a smaller private-sector bank with solid market positions centred on the Moscow region. Since October 2010 it has been jointly controlled by Sergei Abakumov, Sergei Zlobin, Vladimir Panin, Alexander Polyakov and Vyacheslav Shenayev. Under its previous owners the Bank focused on market-oriented growth, particularly the development of loans and other services for small and mid-sized enterprises. Deposits and consumer financing form the core of its retail business.

The new owners appear to have sufficient financial and non-financial resources to support the Bank and sustain a positive growth trend.