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Press Releases / 18.03.2013
Press Release as of 18.03.2013 Bank "Rublev" AK&M Rating Agency monitored Bank RUBLEV under the rating services contract in force and affirmed its ‘B++’ credit rating, with a positive outlook. In 2012, the Bank continued to improve its key performance indicators. In 2012, equity capital of Bank RUBLEV increased by 21.4% to RUB 1,035.6 million as of January 1, 2013. The Bank’s assets at the end of 2012 exceeded RUB 10 billion. In 2012, the Bank’s loan portfolio increased by 25% to ca. RUB 6 billion as of the end of the year. Pre-tax profit increased 4-fold year-on-year (RUB 215.9 million as per the Bank’s preliminary 2012 report). The Bank maintains comfortable liquidity ratios: as of 1/1/2013, its quick liquidity ratio (59.4%) and current liquidity ratio (89.7%) approached the average levels in Russia's banking sector. At the same time, the Bank’s rating is under pressure of the relatively low equity capital adequacy ratio and the high amount of major credit risks. As of January 1, 2013, N1 was 11.1%, N7 was 496.0% against 11.15% and 585.9% as of the start of 2012, respectively. Another negative signal for the Bank’s rating is that deposits placed by legal entities and individuals did not show a considerable growth in 2012.
Full name: Joint Stock Commercial Bank RUBLEV Short name: Bank RUBLEV. This press release is based on the current-state monitoring records for Bank RUBLEV and materials submitted by the Bank and duly considered by CJSC AK&M Rating Agency. The credit rating, along with any information and conclusions provided in this press release, only conveys our opinion on the Bank's credit standing and shall not be considered as advice on the purchase and sale of securities or the provision of loan facilities to the Bank. CJSC AK&M Rating Agency will not incur any responsibility for any interpretations, inferences and consequences related to the application of results of the rating estimation procedure by any third parties. CJSC AK&M Rating Agency is a leading independent national rating agency engaged in rating activities since 1993. CJSC AK&M Rating Agency is accredited by the Ministry of Finance of the Russian Federation (order no. 452 as of September 17, 2010). AK&M Ratings are recognized by the Central Bank of Russia (for providing unsecured lending facilities – Regulation 323-P), Vnesheconombank (for granting subordinated loans) and SME Bank (for its program of lending to SME businesses), RUSNANO (when selecting banks to provide cash and settlement services to project and engineering companies implementing investment projects), and the MICEX (as a prerequisite for including bonds in the Corporate Bond Index / MICEX CBI and Municipal Bond Index / MICEX MBI calculation base and for listing bonds). By a resolution of Russia’s Government AK&M Ratings count for the recapitalization of banks. Besides, AK&M Rating Agency is recognized by AHML and accredited by SRO National Securities Market Association.
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