Fitch upgrates Rosbank’s Viability Rating
International rating agency Fitch Ratings has affirmed Rosbank's Long-term Issuer Default Rating (IDR) at 'BBB+' with a Stable Outlook. Besides, the bank's Viability Rating (VR) has been upgrated to 'bb' from 'bb-'.
The estimate of Viability Rating is based, first of all, on consideration of the Consolidated Financial Statements for 2011. As for the past year, Rosbank’s net profit under IFRS amounted to 8.52 billion rubles. As a result, Rosbank entered the top-5 among Russian financial institutions.
The upgrade of Rosbank's VR reflects its broad country-wide retail franchise resulting in its solid market share in car lending and mortgages. Moreover, the agency pointed out the bank’s healthy liquidity profile and the growth of corporate governance quality.