OREANDA-NEWS. June 29, 2011. Moody’s Investors yet again confirmed the foreign currency and national currency deposit ratings of B3/Not-Prime based on the Bank’s financial performance assessment.

Advantages outlined by the agency experts include adequate asset quality underpinned by a low level of NPLs and adequate capitalization level as well as recognized brand in the SME market segment.

Other positive factors include high profitability. As at YE2010 SB Bank reported net income of USD 19 million. The experts expect that increasing lending and lower loan loss charges (or release of some of the loan loss reserves) may help the Bank to further improve its bottom-line profitability in the near-term.

Moody’s also confirms the Bank’s BFSR rating of E+ and national scale rating of Baa2.ru. The rating outlook is stable.

“Moody’s experts gave proper regard to the material increase in the Bank’s net income as at YE2010, we reported almost a 20-fold increase, thus reaching the pre-crisis performance. The experts also stressed a ROAA of 1.54% which is quite praiseworthy. Sustainability and ability to generate income in economic environment are two factors also emphasized by the experts”, said Andrey Egorov, First Deputy Chairman, SB Bank.