Rating agency Expert RA has given to Family Bank a creditworthiness rating of B+ (sufficient creditworthiness).
As the agency’s press service reported, the primary factor having a positive impact on the lender’s creditworthiness is low overdue loans granted to households (1.01% as of as of January 1, 2009 amid the low level of debts extended). Also, of a positive influence for the rating are the high level of the risk management system and a strong likelihood of support to be provided to the bank by its owners.
A decisive factor that puts a lid on the rating is the imbalanced structure of assets and liabilities in terms of maturity. “Also, as a risk factor the agency regards the high portion of 10 biggest depositors in funds attracted (throughout the period of analysis this ratio varied within the range of 28—42%, in Q408 the percentage of largest depositors increased and reached 43.55% of gross liabilities as of January 1, 2009), high staff expenses in midsized assets, information opacity, growing overdue loans issued to corporate clients (up to 4.37% in Q408) amid the sector average of 3.7%," the rating agency’s specialists pointed out.
