OREANDA-NEWS. June 16, 2011. On June 15, 2011 Standard & Poor’s revised the outlook on B&N Bank’s ratings to ‘Positive’ due to better operating environment and its improving financial profile. The Russia national scale rating was raised to ‘ruBBB+’ from ‘ruBBB-‘. At the same time, S&P affirmed the long-term ‘B-‘ and short-term ‘C’ counterparty credit ratings.  

In S&P opinion, the outlook revision reflects the improving operating environment in Russia and the Bank’s positive development trends such as improving in asset quality (decrease in NPLs 90+), increase in the Bank’s capital by USD 50 million additional share issue, gradually growing interest margin and clear-cut development strategy.

“S&P actions reflect B&N Bank’s successful development as compared to the group of its peers and meaningful efforts of the major shareholder focused on enhancement of the Bank’s investment attractiveness,” said Irina Komarova, Senior Vice President.

Among the main triggers for the further positive rating actions S&P views sustainable improvement in profitability, capacity to maintain adequate capitalization in line with further asset growth and reduction of industrial and single-name concentrations in the loan portfolio.