International rating Agency Fitch may downgrade the rating of the Bank “Peresvet” to the default, if the lender will extend or tighten limitations on the issuance of deposits.
“Fitch will make the decision based mostly on the dynamics of funding and liquidity of the Bank. Fitch lowered the ratings of the Bank “Peresvet” in the case of increasing pressure on its funding and liquidity. Long-term rating of the Bank may be downgraded to “RD” (restricted default) if the restrictions on the issuance of deposits becomes more rigid or long-lasting”, — said senior Director of the group ratings of financial institutions Fitch Alexander Danilov.
However, he noted that the rating could be affirmed at its current level, if the pressure on funding and liquidity will fall and the Bank will resume stable operation.
At the moment the rating of “overexposure” by Fitch — B+ c a negative Outlook.
October 20, the Russian rating Agency RusRating RAEX and evaluating the work of the Bank “Peresvet” also made a change to the rating of financial institutions.
18 Oct in the Bank “Peresvet” reported no liquidity problems and promised in a short time to cancel toughening measures on the withdrawal. On the same day, the Bank has limited the issuance of Deposit amount up to 100 thousand rubles.
In October, media reports citing data from Fitch rating Agency reported that large borrowers “Peresvet” “have some signs of affiliation with each other or with the shareholders or management of the Bank.” In addition, it was noted that of the loans of 17 billion rubles and 12 billion accounts for high-risk loans. That is, structures that have received money, have no real assets, and “Peresvet” is their only creditor, explained Fitch.
Agency Standard & Poor’s, in turn, pointed out that this is the business model financial institutions — it attracts corporate customers and wealthy thanks to the connections of shareholders. There is this approach considered “strong party of the Bank”.
The credit institution takes 41st place in the Russian banking system by assets. More than 49 percent of the shares belongs to the Russian Orthodox Church, another 24 percent the chamber of Commerce.
