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Bank URALSIB (OJSC) Jan 12
Standard & Poors, Jan 2012
Abstract
Moderate systemic importance in a supportive regime. Diversified wide customer franchise with low single-name concentrations. Good loan-to-deposit ratio with limited wholesale debt repayments. Squeezed net interest margin. Volatile customer deposit base. Weak capitalization. The stable outlook reflects the balance between Standard & Poor's Ratings Services' view of Bank URALSIB (OJSC)'s 'adequate' business position, which contributes to limited concentrations, and its 'adequate' funding base, against its 'weak' capital and earnings and 'moderate' risk position. We do not anticipate any major changes in the bank's strategy that would change our assessment over the next 12 months. We could consider raising the ratings if the bank's capitalization improved, reflected in a sustained RAC ratio of more than 5%, along with good earnings capacity...
Companies mentioned in this report are: Bank URALSIB (OJSC),Bashkortostan (Republic of),National Factoring Company
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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