OREANDA-NEWS. National Rating Agency has lowered SB Bank’s national scale credit rating to ‘С’ following its negative outlook on the bank a few days ago. The outlook remains negative.

The national scale ‘C’ credit rating reflects a high level of credit risk, possible payment defaults on current financial obligations or technical defaults. SB Bank has virtually stopped the processing of customer payment orders. On Jan. 26, 2015, it was cut off the online banking electronic payment system. Currently, SB Bank is waiting for the Central Bank of Russia to decide whether it should be stripped of its license of taken up for rehabilitation.

SB Bank (full name —“Sudostroitelny Bank” Commercial Bank) is a Russian private sector commercial bank, founded in July 1994 (Reg. No. 2999). Its members and beneficiaries have remained the same since 2000 and include five legal entities, each holding a 20% interest. The Bank's ultimate beneficiaries are its top managers. SB Bank has a general license from the Central Bank and licenses from the Federal Financial Markets Service of the Russian Federation. It holds membership in different professional unions and associations and the Deposit Insurance Service. In addition, SB Bank is an authorized bank of the Moscow Government’s Small Business Lending Fund. In October 2013, it was issued a license for precious metal dealings.