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Summary: GLOBEXBANK Jan 12

  • ID: 2044481
  • January 2012
  • Standard & Poors

The stable outlook reflects the balance between Standard & Poor's Ratings Services' expectation that GLOBEXBANK will sustain its strong links with Vnesheconombank (VEB; foreign currency BBB/Stable/A-3; local currency BBB+/Stable/A-2) against GLOBEXBANK's "moderate" business and risk positions and projected weakening capital, due to aggressive growth. The counterparty credit rating is capped by the stand-alone credit profile (SACP) of the parent VEB, which we assess at 'bb'. We might consider revising our assessment of GLOBEXBANK's SACP upward if we see a significant strengthening of GLOBEXBANK's business position through an expanding independent and stable client base and reduction of its risk appetite through a lower pace of growth. In addition, sustained capitalization, with the risk-adjusted capital (RAC) ratio before adjustments for diversification exceeding...

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