OREANDA-NEWS. National Rating Agency has affirmed its 'A-' national scale credit rating on SIAB OJSC (OAO 'SIAB') and retained the rating outlook as negative. Revision of the rating can be made following the results of the bank's performance in 2015, or earlier in the case of any significant reasons for doing so. The 'BBB+' national scale credit rating had been originally assigned in April 2009. In May 2011, the credit rating was raised to 'A-' and subsequently affirmed at this level. The last rating action took place on August 14, 2014, when the credit rating was affirmed at 'A-' with a negative outlook.

The rating is constrained by preservation of the large amount of arrears on the loan portfolio, while having a decline in lending activity, which prevents the portfolio from being assessed as 'good'.

Among non-financial negative factors, the Agency highlights leaving of one of the company's owners, which reduces the ability of the shareholders to support the bank's capital stability. On the other hand, it should be noted that the related change in the development strategy, namely leaving off high-risk retail lending, should have a positive impact on the bank's financial condition.