RusRating confirmed forty-three Russian banks’ credit ratings using the data available as of March 1, 2008. SKB-Bank’s credit rating was confirmed at BB-, which is better than the rating of many large Moscow-based banks. SKB-Bank’s rating was originally confirmed by the agency at B+ in August 2006 and was promoted to BB- in July 2007.

The agency’s analysts say SKB Bank’s rating is based on the fact that SKB-Bank is a medium-sized provincial bank (one of the largest in Sverdlovsk Region, though) that has been cooperating intensely with the region’s authorities for a long time. In addition, it can boast a well-developed subsidiary network, an impressive client base made up of large and medium-scale enterprises, their employees, and the region’s dwellers. SKB-Bank has been able to retain a large share of Sverdlovsk Region’s market and is now aspiring to outstrip its rivals in terms of retail services and services offered to small and medium-scale businesses. In addition, SKB-Bank has been developing fast enough and is supported by financially independent owners. The bank’s got a great potential and can boast a Stable rating outlook.

Eight of the banks featured on RusRating’s list are based in Ural Federal District (four in Sverdlovsk Region, two in Tyumen Region, and two in Chelyabinsk Region). Over a half of the banks on the list are located in Moscow.