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Press Releases / 17.03.2016
Press Release as of 17.03.2016 PIR Bank, llc. AK&M Rating Agency has affirmed the national scale credit rating of PIR Bank, llc (license no. 2655) at 'B++', sub-level 2, with a stable outlook, and withdrew it as the rated Bank refused to have the rating updated. The 'B++' rating indicates that The Bank qualifies as a medium-sized Russian credit institution in terms of the amount of business. As of January 1, 2016, the Bank ranked In 2015, the rated Bank's assets and liabilities increased notably (+10.1% and +9.5%, respectively). That said, earning assets edged up by a mere 0.7%, their relative share in total assets decreasing from 67% to 62%. At the same time, the aggregate loan portfolio decreased by 14.8%, mainly due to weaker performance in the corporate segment. The quality of loan assets improved considerably, as evidenced by an 8.3% reduction in the level of overdue debt. It should however be noted that the percentage of loan arrears still remains high, exceeding the average level in Russia's banking sector more than twice. Net interest incomes contributed essentially to the bank's aggregate net incomes, without any notable volatility throughout the year. As a result, the bank's financial result increased by 10% year-on-year to RUB 70.7 million in 2015.
For estimation purposes, we completely rely on the reliability of information provided by the Bank. The rationale for
Ul. Gubkina 3, Moscow, Russia Phone no. (495) 916-70-30, fax no.: (499) 132-69-18. |
