EUROMET JSCB's Credit Rating Lowered
OREANDA-NEWS. National Rating Agency has lowered its national scale credit rating on EUROMET JSCB PJSC to 'BB+'. The outlook for the rating remains negative. On Mar. 28, 2013, the bank was assigned NRA's national scale credit rating of 'A-', which was affirmed on Mar. 24, 2014. On Apr. 23, 2015. its 'A-' national scale credit rating was re-affirmed with a negative outlook.
The rating downgrade reflects EUROMET's disconnection from the BESP (electronic express banking payment) system, which increases its exposure to regulatory and reputational risks.
EUROMET Joint-Stock Commercial Bank (acting as a public joint-stock company and servicing the Russian metallurgical sector) was founded in 1994 (Reg. No. 2902). EUROMET is licensed by the Bank of Russia to transact in both domestic and foreign currencies, take ruble and forex-denominated retail deposits and act as a broker/ dealer.
EUROMET has been a member bank of the Deposit Insurance System (No. 591) since February 2005. Currently, EUROMET's main beneficiary owner is Dmitry A. Skopinov.