Rosbank OJSC JSCB Nov 09

Standard & Poors, November 2009

Abstract
Strategically important status within the Société Générale group. Financial and risk governance support from its parent. Good business franchise and diversity of product lines. Prudent liquidity risk management and improving financial and strategic planning. Continuing asset quality deterioration. Earnings and capital pressure from provisions. Funding vulnerabilities due to sizable concentration in customer deposits. Marginal capitalization. The ratings on Russia-based Rosbank OJSC JSCB reflect Standard & Poor's Ratings Services' opinion of the significant systemwide risks that persist in the Russian Federation (foreign currency BBB/Negative/A-3, local currency BBB+/Negative/A-2, Russia national scale rating 'ruAAA') and in the Russian banking sector. We anticipate that the Russian economy will contract 6% in 2009, which may accentuate Rosbank's credit losses, funding and liquidity vulnerabilities, and marginal...

Companies mentioned in this report are:
- Rosbank OJSC JSCB
- Societe Generale
- Credit du Nord S.A.
- Franfinance
- Banque Kolb S.A.
- Banque Tarneaud S.A.
- Banque Rhone Alpes S.A.
- Komercni Banka A.S.
- Societe Generale Bank & Trust
- SG Capital Trust III
- Societe Generale SCF

Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

- Rosbank OJSC JSCB
- Societe Generale
- Credit du Nord S.A.
- Franfinance
- Banque Kolb S.A.
- Banque Tarneaud S.A.
- Banque Rhone Alpes S.A.
- Komercni Banka A.S.
- Societe Generale Bank & Trust
- SG Capital Trust III
- Societe Generale SCF

Customers who bought this item also bought

• Russia: Vocational Education Market. Analysis and Forecast to 2017
• Russia: Pre-School and Primary Education Market. Analysis and Forecast to 2017
• Crises in Russia
• Homeland Security Market in Russia to 2022: Market Brief
• Transportation & Urban Investment Finance Review 2012/13
• Military Aircraft Market in Russia to 2021: Market Brief
• C2/C4ISR Market in Russia to 2021: Market Brief
• Naval Vessels MRO Market in Russia to 2022: Market Brief
• Military Aviation MRO Market in Russia to 2022: Market Brief
• Manufacture of Weapons and Accessories (Russia)