OREANDA-NEWS. ‘Expert RA’ rating agency maintained ‘Uniastrum Bank’ creditworthiness rating B++, which means acceptable credit solvency, the developing outlook was also maintained.

The rating review is due to restructuring of the Bank of Cyprus, the Bank’s principal owner. The Agency’s analysts note the positive trend towards increase in the N1 ratio by capital increase. However, ‘Uniastrum Bank’ still depends on the Bank of Cyprus in terms of both active and passive transactions. As a result of the Bank of Cyprus restructuring, its stake in ‘Uniastrum Bank’ is very likely to be sold. The negative news pool resulted in the outflow of customer funds from the Bank; however, the liquidity ratios are acceptable. The uncertainty of the current situation with the customer money dynamics and the ownership structure is reflected in the rating outlook, which is confirmed as developing.