OREANDA-NEWS. December 15, 2009. International rating agency Moody’s Investors Service assigned B2 long-term and Not Prime short-term local and foreign currency deposit ratings and an E+ bank financial strength rating (BFSR) to B&N Bank. The outlook on all the ratings is stable, reported the press-centre of B&N Bank.

At the same time, Moody's Interfax Rating Agency affirmed the Bank’s A3.ru long-term national scale credit rating (the higher national scale rating corresponding to B2 global scale rating according to Moody’s classification).

“The assigned ratings reflect strong position of B&N Bank in the banking sector, its ability to resist the negative influence of the world crisis and to develop according to the adopted strategy”, stated B&N Bank’s President Mikail Shishkhanov.

B&N Bank cooperates with Moody’s Interfax Rating Agency, being majority owned by Moody’s Investors Service, since 2005 and has A3.ru national scale rating. Taking into consideration the longstanding relationships with the agency, management of the Bank decided to enter into the agreement with Moody’s Investors Service to obtain ratings under global scale.

“We think that Moody’s analysts have provided an unbiased assessment of the Bank’s activity notwithstanding some concern of international rating agencies towards Russian banking sector. It seems that their negative outlooks are not justified, as far as Russian banking sector has already overpassed a crucial point and now is at the stage of recovering. B&N Bank has succeeded in sustaining its market position and bringing some of its key figures above pre-crisis level”, said Irina Komarova, Senior Vice President.

According to Moody’s release, B&N Bank’s ratings are underpinned by the Bank’s strong position in the retail deposit market, adequate geographic diversification of its business, high capitalization and well-balanced liquidity profile.