OREANDA-NEWS. National Rating Agency has withdrawn its credit rating on Khanty-Mansiysk Otkritie Bank PJSC (KhMOB) due to the completion a legal merger process to absorb Bank FC Otkritie. No exit rating has been assigned, as KhMOB has ceased operations (the bank has been using the merged FC Otkritie Bank legal brand and the single Otkritie Bank brand since Aug. 23, 2016). The bank was assigned NRA’s first-time ‘AAA’ credit rating on June 24, 2014. The latest rating action on KhMOB (the ‘AAA’ credit rating affirmation with a stable outlook) was on Oct. 30, 2015.

Khanty-Mansiysk Otkritie Bank (operating as a public joint-stock company) emerged in November 2014 as a result of restructuring of three retail banks operating within the Otkritie group: Bank of Khanty-Mansiysk took over Bank Otkritie and Novosibirsk Municipal Bank. KhMOB became a legal successor of the three merger partners. Currently, the merged bank continues as Bank of Khanty-Mansiysk in parts of Western Siberia, namely Khanty-Mansi and Yamal-Nenets Autonomous Districts where the brand awareness is high.