OREANDA-NEWS. July 25, 2008. Following the analysis of AB DnB NORD Bankas, the international rating agency Fitch Ratings affirmed the bank’s long-term Issuer Default (IDR) rating ‘A’, outlook stable, reported the press-centre of DnB NORD Bankas.

This high rating of DnB NORD Bankas’ creditworthiness matches the sovereign long-term borrowing rating assigned to the Republic of Lithuania.

“In the environment of the international finance market turmoil and the country’s slowing economic growth, this recognition of AB NORD Bankas as a trustworthy financial partner is very important as that enables us to continue providing credit, investment and saving services to our customer on very competitive terms,” – says the Chairman of the Management Board and the CEO of AB DnB NORD Bankas Werner Schilli.

Fitch Ratings also affirmed AB DnB NORD Bankas’ short-term IDR ‘F1’, individual rating at C/D and the support rating '1'.

AB DnB NORD Bankas is a universal commercial bank, that provides full range of banking services to individual and corporate customers. AB DnB NORD Bankas runs three subsidiaries: asset management company UAB DnB NORD Investiciju Valdymas, leasing arm UAB DnB NORD Lizingas and real estate brokerage UAB DnB NORD Bustas.

The bank is part of Denmark-based DnB NORD banking group which was established by the Norway’s largest bank DnB NOR ASA and North Germany’s largest bank Norddeutsche Landesbank Girozentrale (NORD/LB).