Rating agency Expert RA has assigned to Ocean Bank a B+ creditworthiness rating (sufficient creditworthiness). As the rating agency pointed out in a statement, factors that exerted a positive impact on the lender’s creditworthiness included the high capital adequacy ratio (31.9% as of January 1, 2009, i.e. up 6.4% since the end of Q308). Of a positive influence on the rating is the broad diversification of the bank’s securities portfolio and good collaterals for loans granted to clients," Expert RA professionals noted.
Substantial concentration of the bank’s business on the bond market was named as a primary negative factor. Other additional negative factors could feature volatility of the resource base, as well as Ocean Bank’s reliance on CBR cash when it comes to replenishing its resource base, as funds drawn through these sources account for around 15% of gross liabilities, the rating agency specified.
According to the data from Banki.ru and news agency Interfax-CEA, as of January 1, 2009 net assets of Ocean Bank stood at Rub 2.05 bln (463rd place in Russia). The lending institution is a member of the national deposit insurance system.
