Metallinvest Bank's Credit Rating Affirmed
The rating benefits from Metallinvest's strong market position, stable customer base and highly profitable operations. The rating also recognizes the bank's highly skilled management team and strong business management practices, combined with adequate underwriting policies, flexible approach to the development of lending operations and its high reliability in managing customer and counterparty relations. NRA also notes the potential positive implications of support from OMK Group, the bank's parent, on Metallinvest's financial strength and liquidity position.
The rating is constrained by the bank's highly volatile customer deposits, the single name concentration in its deposit portfolio and the increasing level of nonperforming loans (a challenge facing the banking sector in general).
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