OREANDA-NEWS. July 30, 2012. According to the agency, the rating increase reflects growth in the Bank’s business against the background of a continuing strong capital base, the increasing diversification of liabilities by both type and individual client, and an improved earnings structure.

The rating itself is based on a strong capital base that provides substantial scope for growth; a stable client base and market niche; and steady development trends. Constraining factors include a small share of business done in the general market, narrow lines of business, exposure to market risks and volatile earnings.

Bank of Settlements & Savings (BSS) is a private-sector bank (one of Russia’s top three hundred by assets) that operates mainly in Moscow. Its beneficiary owners, K.B. Yurovski and A.A. Ostrovski, both sit on the Board of Directors and are active in management. At this time its principal business is the provision of settlements and cash-handling services, including cross-border transactions, to mainly smaller and mid-sized corporate clients. Assets centre on a portfolio of bonds and bank veksels (promissory notes), while currency conversion deals are an important source of revenue. Growth plans call for launching new lines of business, including retail and credit activity. The Bank began developing a regional service network in March 2011.