OREANDA-NEWS. December 28, 2011. Moody’s Investors Services affirmed the following credit ratings of Bank Petrocommerce:

international scale rating: Ва3/NP (long-term/short-term credit rating in foreign currency);

national scale rating: Аа3.ru;

financial strength rating: D-;

outlook: negative.

According to Moody’s Investors Services, the Bank’s ratings are underpinned by the following key factors:

robust capital adequacy ratio;

solid liquidity position;

strong corporate banking expertise, good basis and stable customer base for retail business development;

business diversification across multiple regions;

strategic partnership and status of the main settlement bank of LUKOIL in the ruble area.

In the medium term a rating upgrade will depend on the efficiency of the Bank’s development in the segments capable of generating high margin (retail, factoring financing, SME lending) in accordance with the adopted strategy. However, it should be noted that the Bank’s proactive stance on the above areas has already had a positive effect — growth and diversification of the customer base, which resulted in an improved view of the Bank’s business position.