Moody’s affirmed long-term credit rating of Vozrozhdenie Bank

27 April 2016

On April 26, 2016 Moody’s Investors Service has confirmed ratings of 26 Russian financial institutions, including Vozrozhdenie Bank. Its long-term debt and global local-and foreign-currency deposit ratings is maintained at B1 with Negative outlook.

Moody’s expects resilience of the banks’ credit profile to the anticipated deterioration in the economy reflected in the negative outlook.

“Vozrozhdenie Bank rating is supported by good liquidity profile, healthy pre-provision earnings and good NPL coverage. The bank’s risk profile is constrained by, most importantly, recently adverse market conditions”, noted analysts of the rating agency Moody’s.

“At the start of the year we saw some macroeconomic stabilization that contributed to confirming ratings at the current level. We hope that conservative risk management, focus on fee-generating products and traditional banking services will help us to protects market positions and maintain operating performance at a comfortable level”, commented Andrey Shalimov, Deputy Chairman of the Management Board of Vozrozhdenie Bank.

Moody’s affirmed long-term credit rating of Vozrozhdenie Bank
2.5% of Vozrozhdenie Bank voting shares were bought out within MTO