Russian rating agency RusRating has affirmed Expobank's national scale credit rating at AA-, and the bank's international credit rating at BBB-. The outlook for the ratings was revised from stable to possible upgrade, RusRating's press service reported.
Analysts believe that the upward revision of the rating outlook was driven by stable growth of Expobank's market positions while maintaining the quality of financials and the time-tested efficiency of the selected development strategy.
"Factors supporting the rating are the bank's fast expansion after the ownership shakeup, the stable clientele of big accounts and decent capital adequacy," the bank said in a press release.
Meanwhile, the rating is restrained by Expobank's insufficiently developed market positions against banks with higher ratings, RusRating pointed out.
