OREANDA-NEWS. The agency favorably appraised the unveiled deal under which Finance Corporation Otkritie will enter the Bank's capital, and along with this the strategic partnership with Financial Group IFD Kapital and Russia's largest private oil corporation Lukoil will continue. “The affirmation of Bank Petrocommerce's ratings reflects the expected financial aid (scheduled by year-end 2013) from the Bank's current controlling shareholder - IFD Kapital Group”, says Moody's press release.

According to the terms of the deal, IFD Kapital Group will grant Bank Petrocommerce a subordinated credit in the amount of RUB 10 bln and acquire problem loans. These measures will strengthen the capitalization and profitability ratios while maintaining robust liquidity profile of the Bank. As at first half of 2013, according to IFRS, tier 1 capital adequacy ratio stood at 12.6%, total capital adequacy ratio was 15.6 %, net interest margin totaled 4.1% with liquidity cushion exceeding 25% of Bank Petrocommerce Group's assets.

“We anticipate the rating's upgrade, if the deal is a success and the fundamental metrics of Bank Petrocommerce strengthen”, says Elena Korekhova, First Vice President of Bank Petrocommerce.