- Language: English
- Published: May 2013
- Region: Iraq
Commercial Bank Petrocommerce (OJSC) Dec 11
- Published: December 2011
- Standard & Poors
Close relationship with oil company LUKoil, which supports the bank's business and funding position. Good liquidity cushion. Stabilized asset quality. High systemwide risks. Limited, although improving, business and funding diversity. Moderate capitalization and recently pressured core profitability. The stable outlook balances Standard & Poor's Ratings Services' opinion of OJSC Commercial Bank Petrocommerce's (Petrocommerce) improving asset quality indicators and better revenue generation prospects in light of resuming lending growth against only moderate capitalization. We could lower the ratings if we see a significant reversal in the bank's recent improvement in asset quality whereby we would assess the bank's risk position as "weak", or if capitalization worsened to the point where our RAC ratio fell below 5% (before adjustments). We could raise...
Companies mentioned in this report are: Commercial Bank Petrocommerce (OJSC)
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Commercial Bank Petrocommerce (OJSC)