OREANDA-NEWS. Fitch Ratings has today affirmed the ratings of Russia-based National Bank TRUST ("NBT") at Issuer Default 'B-' with a Stable Outlook, Short-term 'B', Individual 'D/E' and Support '5'.

NBT's ratings reflect significant loan impairment to date and credit risk from ongoing rapid growth combined with moderate loan impairment coverage and weak capitalisation.

Liquidity is potentially vulnerable given the reliance on short-term customer funding (although this has been managed quite prudently to date) and additional (albeit moderate) tax claims received earlier this year suggest some remaining regulatory risk.