OREANDA-NEWS. March 09, 2012. According to the agency, the rating is based on favourable development prospects, a stable client base including larger firms, strong infrastructure and technology, and high capital adequacy.

Constraining factors include the short period of time since the adoption of a new business model and approach to corporate governance plus loss-making operations and a decline in market positions following a recent change of ownership.

Expobank is a mid-sized (by assets) private-sector bank that in late 2011 was sold by Britain’s Barclays Bank to Igor Kim and his partners. Prior to the sale it was positioned as a universal bank focused on the premium market segment. The new business model aims to expand its client base among the middle class while maintaining high service quality. Given Kim’s positive experience with several previous banking projects and several other supporting factors, the Bank’s development prospects are rated favourably.