Russian credit agency Akra elevated Bank Uralsib's credit rating to level A, with a stable outlook.
Ratings agency experts have upgraded Uralsib Bank's risk profile, attributing the move to a decrease in market risk relative to the bank's core capital. The experts noted that the bank's credit portfolio exhibits a low level of problematic debt and minimal concentration of loans to the ten largest borrower groups.
The business profile assessment considers the bank's universal nature of operations and is based on a relatively high level of operational revenue diversification, moderate growth in the credit portfolio, and strategies implemented by the bank.
The strong assessment of the bank's capital adequacy is due to the bank meeting regulatory standards with a buffer, as well as its capacity to generate capital.
While the specifics of the updated risk and business profiles have not been disclosed, it is important to note that Uralsib Bank has previously been subject to sanctions, including restrictions on SWIFT financial messaging services. These sanctions can potentially impact a bank's business operations by causing economic instability and political tensions [1]. However, the extent to which these sanctions may have influenced the bank's recent rating upgrade is unclear.
[1] Source: Search results, for more information visit erid: F7NfYUJCUneRJUjbcWgp, uralsib.ru.
Реклама. ПАО "БАНК УРАЛСИБ", uralsib.ru, erid: F7NfYUJCUneRJUjbcWgp
The strong assessment of Uralsib Bank's business profile may be rooted in its universal nature of operations, diversified revenue, controlled credit growth, and strategic implementations, as mentioned in the recent assessment. Despite the past sanctions impacting its business operations, the group's recent upgrade in risk and business profiles could be attributed to various factors, like a decrease in market risk and an improved quality of the credit portfolio relative to core capital, as highlighted by the ratings agency experts.
