OREANDA-NEWS. National Rating Agency has affirmed its national scale 'AA-' credit rating on JSC AIKB Tatfondbank (TFB). The outlook for the rating is negative.

Key factors underlying the negative rating outlook include the bank's interest risk materialization in 1Q 2015, which led to a negative interest margin and losses for 1Q 2015 and brought about a considerable debt leverage and high funding costs affecting TFB's margins. NRA also note TFB's sizable non-core investments (which are increasing, bringing down the loans' share in the assets structure) and the reduction of operating income generated by these investments.

The rating is underpinned by the bank's stable market position in the Republic of Tatarstan and growing customer base. The bank's adequate capital and liquidity positions make it capable of building a fully-fledged business and meeting its customer obligations.