OREANDA-NEWS. Fitch Ratings has today affirmed Russia-based International Bank of St-Petersburg's ("IBSP") ratings at Issuer Default 'B-' (B minus), National Long-term 'BB(rus)', Short-term 'B', Individual 'D/E' and Support '5'. The Outlooks on the Issuer Default and National ratings remain Stable.

IBSP's ratings reflect its size and franchise, which are small by international standards, risks associated with the concentration of both its loan book and client funding, and large investments in securities.

They also take into account its modest performance, being affected by volatile trading gains/losses and high operating costs. However, the ratings also factor in the bank's relatively good asset quality to date supported by a favourable economic environment and reasonable liquidity.