OREANDA-NEWS. Moody's rates Vneshprombank (Russia) B3/NP/E+/Baa3.ru First-time ratings Moscow, November 02, 2006 -- Moody's Investors Service has assigned the following global scale ratings to Russia's Foreign Economic Industrial Bank (Vneshprombank): B3 long-term and Not-Prime (NP) short-term foreign currency deposit ratings and an E+ financial strength rating (FSR).

At the same time, Moody's Interfax Rating Agency has assigned a Baa3.ru long-term national scale credit rating (NSR) to Vneshprombank.

Moody’s mentioned that ratings of the bank mirror its small size and modest market position, which causes very high concentration of assets and liabilities.

The ratings are also conditioned by anxiety of Moody’s regarding the fact whether Vneshprombank manages to stand the growing competition in the long-term prospect as many other small banks, as its strategy is rather reactive than proactive.