02.05.2016, 13:33
NRA's Credit Rating on Promsviazbank Affirmed
OREANDA-NEWS. National Rating Agency has affirmed its national scale 'АА+' credit rating on Promsviazbank PJSC and revised the rating outlook to Positive. The Rating Agency plans to consider whether it should upgrade the rating in line with the current outlook or revise the outlook after it has been provided the bank's IFRS financials for 1H 2016. Promsviazbank was assigned NRA's first-time credit rating of 'AA+' in November 2008. The latest rating action on the bank (the 'AA+' credit rating affirmation) was on Feb. 4, 2015.
Founded in May 1995, Promsviazbank Public Joint Stock Company (holder of the Central Bank of Russia's full banking license No. 3251) is a universal bank offering a full range of banking services. The bank has a leading position in the Russian factoring and SME lending market and is a top-10 Russian bank by a number of key metrics. Its regional network includes 260 offices. In addition, it has a branch in Cyprus and an office in China.
The bank's main shareholder is Promsvyaz Capital B.V., controlled by Dmitry and Alexey Ananiev (50.03% of charter capital). The European Bank of Reconstruction and Development (EBRR) has been holding a 11.75% stake since February 2010. In May 2015, the bank acquired new shareholders, the Budushchee Non-State Pension Fund (NSPF) belonging to Boris Mints (10%), as well as B&N Group-owned NSPFs (namely, European Pension Fund, RegionFund and Doverie) with a total stake of 10%. In early November 2015, Promsviazbank majority shareholders closed a deal to purchase Pervobank. As a result, 86.54% of Pervobank came under their control, while Pervobank's former owners became Promsviazbank shareholders with a 4.54% stake. In late November 2015, ex-senator Victor Pichugov acquired a 10% stake in the bank.
NRA's analytical products, including ratings and the contents of this press release, are statements of NRA's independent opinion as of the date they are expressed and not statements of fact or recommendations to make any investment decisions or conduct any stock market transactions. NRA is not responsible for any results obtained from the use of opinions and/or information contained in this press release.
While NRA has obtained information from sources it believes to be reliable, NRA does not guarantee that this information is perfectly correct, complete and accurate, as it does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.
Founded in May 1995, Promsviazbank Public Joint Stock Company (holder of the Central Bank of Russia's full banking license No. 3251) is a universal bank offering a full range of banking services. The bank has a leading position in the Russian factoring and SME lending market and is a top-10 Russian bank by a number of key metrics. Its regional network includes 260 offices. In addition, it has a branch in Cyprus and an office in China.
The bank's main shareholder is Promsvyaz Capital B.V., controlled by Dmitry and Alexey Ananiev (50.03% of charter capital). The European Bank of Reconstruction and Development (EBRR) has been holding a 11.75% stake since February 2010. In May 2015, the bank acquired new shareholders, the Budushchee Non-State Pension Fund (NSPF) belonging to Boris Mints (10%), as well as B&N Group-owned NSPFs (namely, European Pension Fund, RegionFund and Doverie) with a total stake of 10%. In early November 2015, Promsviazbank majority shareholders closed a deal to purchase Pervobank. As a result, 86.54% of Pervobank came under their control, while Pervobank's former owners became Promsviazbank shareholders with a 4.54% stake. In late November 2015, ex-senator Victor Pichugov acquired a 10% stake in the bank.
NRA's analytical products, including ratings and the contents of this press release, are statements of NRA's independent opinion as of the date they are expressed and not statements of fact or recommendations to make any investment decisions or conduct any stock market transactions. NRA is not responsible for any results obtained from the use of opinions and/or information contained in this press release.
While NRA has obtained information from sources it believes to be reliable, NRA does not guarantee that this information is perfectly correct, complete and accurate, as it does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.
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