Societe Generale's Russian-based Rosbank and subsidiaries Rusfinance Bank and DeltaCredit Bank recently received an upgrade in their viability ratings from Fitch Ratings, rising from a BB to BB+ rating.
The upgrade comes from the high level of integration of Rosbank into the group following the merger with BSGV Bank and the revised governance structure. The rating also takes into account the improvements in the quality of assets as a result of significant efforts made with problem loans, healthy liquidity and adequate capital levels.
Fitch also affirmed all three banks' long-term issuer default ratings at a BBB+ level with a stable outlook, affirming that the banks received meaningful support from Societe General Group structures.
Rosbank is a Russian universal bank. In 2011 its assets were the ninth-greatest among Russian banks. It merged with another Russian subsidiary of Societe Generale in July 2011.
- ANELIK BANK - ARMENIA: IDBank has a new board chairman
- ABN AMRO SERVICES COMPANY: ABN AMRO to make more sustainability information available to investors
- CENTRAL BANK OF AZERBIJAN: The Central Bank trained primary school teachers as a pilot project
- BELARUS MINISTRY OF FOREIGN AFFAIRS: Belarusian Foreign Ministry hosts a round table on the occasion of the 100th anniversary of the modern Belarusian diplomatic service
- ARMECONOMBANK - ARMENIA: Armeconombank and singapore-Based EFA Financial Institutions Debt Fund PTE. LTD. Investment Company Signed a Loan Agreement
- ASIAN DEVELOPMENT BANK: ADB Sends Condolences to Indonesia in Wake of Tsunami Disaster
- ARDSHININVESTMENTBANK - ARMENIA: Ardshinbank announces New Year deposit
- AG BANK: Happy birthday, Mr. President!
- BASIS BANK - GEORGIA: Hurry up! The action started on mortgage loans in GEL!
- BALTIC INTERNATIONAL BANK - UKRAINE: Opening hours for the Christmas holidays