RusRating confirms SKB-Bank’s rating at BB-

RusRating confirmed forty-four Russian banks’ credit ratings using the data available as of May 4, 2008. Yekaterinburg-based 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. The bank’s got a great potential, support from the financially independent proprietors, and can boast a Stable rating outlook.

There are four Sverdlovsk Region-based banks, two Tyumen Region-based banks, and two Chelyabinsk Region-based banks featured in the rating altogether. Over a half of the banks on the list are located in Moscow.

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