OREANDA-NEWS. December 24, 2012. Expert RA rating agency confirmed BFA Bank’s credit rating at A+ level - A Very High Credit Solvency Level, forecast is stable.

Major factors influencing the level of BFA Bank positive ratings included the balance of assets and liabilities in terms of the short- and medium-term horizon (as of October 1st, 2012 H2 = 45.8% H3 = 89.9%), high quality of loan debt (as of October 1st, 2012 overdue claims amounted to 2.5% of the gross loan portfolio) and available significant sources of additional liquidity. According to agency analysts, other factors that positively influenced the rating include a high level of security of the loan portfolio (covering the loan portfolio with collateral including mortgage securities, sureties and guarantees amounted to 276.8% as of October 1st, 2012), reasonable rates of return on equity in 2012 (ROE = 12,3% for the first 9 months of 2012, annualized) and low currency risk taken.

Expert RA analysts refer to the insufficient balance of assets and liabilities in terms of the long-term horizon (H4 = 93.3% as of October 1st, 2012) and low diversification of the bank’s credit risks for clients as the key factors limiting the rating level. “In early 2012, the bank acquired a pool of leasing credits, resulting in increased pressure on its capital, long-term liquidity and slightly increased overdue debt share in the portfolio. At the same time, due to the supply of its own funds, the bank’s results correspond to A + rating level,” comments Stanislav Volkov, head of credit institution ratings, Expert RA agency.

OJSC “BFA Bank” (St. Petersburg, Serial Number 3038) is specialized in all-inclusive services for medium and large businesses, as well as in individual banking solutions for private clients. According to the Russian Accounting Standards the bank’s assets as of October 1st, 2012 amounted to RUB 56.0 billion (84th place as to the assets in Expert RA’s ranking), the volume of owned capital – RUB 6.7 billion, profit before taxation for the first quarter of 2012 – RUB 583.7 million.