International rating agency Moody’s has assigned to Sotsgorbank a long-term credit rating of B3 (stable outlook), a national scale rating of Baa2.ru and also a bank financial strength rating of E+, the lending institution said in a press release.
“The decision to be rated by the world’s second largest rating agency was driven by the lender’s desire to become more transparent, which under the circumstances is one of the important conditions of increasing trust in the banking sector and Sotsgorbank as its player," pointed out Alexander Golev, director of the lender’s department for international business and financial institutions. He added that with ratings from two international rating agencies the bank’s investors and partners will be able to make deeper assessment of its activities and take investment decisions.
According to the data from Banki.ru and news agency Interfax-CEA, as of January 1, 2009 net assets of Social City Bank totaled Rub 15.9 bln (131st place in Russia). The lending institution is a member of the national deposit insurance system.
