NRA Assigns ‘A’ Credit Rating To Municipal Savings Bank Desk; Outlook Stable
OREANDA-NEWS. National Rating Agency has assigned its ‘A’ credit rating to Municipal Savings Bank Desk (Gorodskaya Sberegatelnaya Kassa) JSC (MSBD) microfinance bank. The outlook for the rating is Stable. It is the first time that MSBD is rated by NRA.
MSBD’s credit rating reflects its growing loan portfolio and sustainable asset quality, increasing authorized capital, good capitalization and strong liquidity position, with equity adequacy and liquidity ratios comfortably above the regulatory minima, as well as the bank’s good information disclosure practices and experienced personnel. The rating factors in MSBD’s adequate risk management system, which is risk management system will evolve commensurate with the scale and nature of the bank’s business.
The rating is constrained by the bank’s low profitability, lack of IFRS financials, and the bank’s short track record of operations in the emerging market segment.
NRA’s analytical products, including ratings and the contents of this press release, are statements of NRA’s independent opinion as of the date they are expressed and not statements of fact or recommendations to make any investment decisions or conduct any stock market transactions. NRA is not responsible for any results obtained from the use of opinions and/or information contained in this press release.
While NRA has obtained information from sources it believes to be reliable, NRA does not guarantee that this information is perfectly correct, complete and accurate, as it does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.