OREANDA-NEWS. RusRating has assigned a credit rating to AKB PERESVET (Moscow). The rating is “AA” on the national scale and “BBB” on the international scale, in both cases with a stable outlook.

According to the agency, the rating is based on the healthy financial resources and good political connections of the Bank’s owners; strong GR-management; a well-developed, high-quality client base made up of large and creditworthy companies; and healthy growth trends coupled with good financial indicators.

Constraining factors include risks arising from a business dependent on the business contacts of the Bank’s owners and at the same time subject to political influences; geographically-concentrated operations; and the financing of construction and real estate development companies.

AKB Peresvet is a mid-sized commercial bank that operates for the most part in the Moscow region. Its principal beneficiary owners – who were also its co-founders – are the Russian Orthodox Church (36.3% stake), the Russian Federation Chamber of Trade and Industry (42.8%), and the Centre for Promotion of Residential Reform (11%). Peresvet’s operations centre to a large extent on the provision of integrated services to corporate clients, particularly major state- and private-sector enterprises in the energy, transport, machine-building, oil and gas industries. The Bank also specialises in financing infrastructure and residential construction projects. It is actively involved in a range of government and social programmes. Retail operations have developed in partnership with corporate clients. Interbank and securities market activity is moderate. Facilitating church charitable and social programmes has always been and remains an important function.