OREANDA-NEWS. Standard & Poor’s Ratings Services has affirmed Otkritie Bank long- and short-term counterparty credit ratings at ‘B/B’, revised the company outlook to Positive and raised Russia national scale rating to ‘ruA’ from ‘ruA-‘.

The outlook revision from Stable to Positive by Standard & Poor’s reflects Otkritie Bank’s stronger capitalization and good profitability in 2012, as well as the agency’s expectation that Otkritie Bank will successfully overcome the operational risks of ongoing integration of the banking business within the Financial Corporation, while maintaining its current capital position.

The rating may be upgraded if Otkritie FC would successfully integrate its banking business, while maintaining Otkritie Bank’s customer base and franchise.

According to Otkritie’s integration strategy announced in April 2013, the development of the banking business will be based on the trio of NOMOS-BANK, Otkritie Bank and Bank of Khanty-Mansiysk.

The banks’ IFRS balance sheets will be consolidated on the basis of NOMOS-BANK. NOMOS-BANK will hold controlling stakes in Otkritie Bank and Khanty-Mansiysk Bank. Otkritie FC will consolidate a controlling stake in NOMOS-BANK by the end of third quarter of 2013.

“We expect that our business model in which the Group’s banks will focus on specific business segments will allow us to build on the positive performance of 2012, which in turn served as the basis for the national scale rating upgrade and outlook revision”, says Evgeny Dankevich, President - Chairman of Otkritie Bank’s Board of Directors.