Fitch Ratings has affirmed its ratings for Sberbank, the largest bank in Russia and Eastern Europe, it announced Monday.
Fitch affirmed the long-term foreign and local currency IDRs at "BBB" with a stable outlook, the short-term foreign and local currency IDRs at "F3," the support rating at "2," the level of long-term rating support at "bbb" and the national long-term rating at "AAA(rus)" with a stable outlook.
"Sberbank's long-term IDR is currently driven by Fitch's view of the bank's standalone strength, reflected in its 'bbb' Viability Rating, and so would not come under downward pressure even if Fitch lowers its expectation of government support for the bank", the agency said. "The affirmation of Sberbank's 'bbb' VR reflects its dominant market position, stable deposit base, currently strong performance and solid liquidity position. Moreover, the rating takes into account the bank's strong asset quality and adequate capitalization."
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme