OREANDA-NEWS. National Rating Agency has affirmed its national scale credit rating on Europlan Bank JSC at 'A+'.

The rating affirmation reflects the strong support received by the bank from its parent Europlan CJSC, a company with a high credit standing, strong market position and extensive customer base, as well as the bank's good capital quality and adequacy metrics, enabling a medium-term lending increase, good loan quality, low NPL level (less than 0.7% of total loans), good collateral coverage and absence of single-name concentration in the loan book.

The rating is constrained by Europlan's low operating profitability and the fact that the share of liquid assets (including the balance of Europlan's correspondent account with the Bank of Russia) in its net assets has declined as a result of growing allocations to the mandatory reserves fund.