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Bank VTB Dec 07
Standard & Poors, Dec 2007
Abstract
Likelihood of government support if needed due majority state ownership and strategic importance to Russia Limited single-name concentrations Good domestic market position and growing business diversification Strong growth prospects supported by personnel and infrastructure investments Comfortable capital position Highly competitive and risky, albeit improving, operating environment Rapid growth, challenging operational control and risk management A still material dependence on one-off noncore gains Challenges relating to integration and business restructuring among group entities A potential for state-influenced decisions The ratings on Russia-based Bank VTB reflect its strong ties with its owner, The Russian Federation (foreign currency, BBB+/Stable/A-2; local currency, A-/Stable/A-2; Russia national scale ruAAA); limited single-name concentrations; growing business diversification; comfortable capital position; and good domestic market position and growth prospects...
Companies mentioned in this report are: JSC VTB Bank,Russian Federation,Russian Bank for Development,Vnesheconombank,Bank VTB 24,VTB-Leasing
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
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