Η Kedr bank είναι πια μόνο εμπορική επωνυμία. Η τράπεζα έχει πια εδώ και ενα χρόνο αγοραστεί από την B&N bank. Ο μόνος οίκος που αξιολογεί την εν λόγω τραπεζα (Β-)ειναι o S&P(Συγκριτικά η συστημική ρώσικη Promsvyazbank βαθμολογείται από τον ίδιο οίκο BB-)...Ιδού η πιο πρόσφατη αξιολόγηση...[Για την ιστορία το 2014 είχε εξαγοράσει την PrivatBank(MoskomPrivat) της Ρωσίας,τη Rost bank, την Kedr κ.ά..Επομένως έχει καταστεί μια συστημική τράπεζα για τη Ρωσία.
en.m.wikipedia.org/wiki/B%26N_Bank]
{The very rapid expansion of B&N Bank's asset base, following the
acquisitions it implemented in 2014, has put its capital ratios and its
financial profile under increasing pressure.
In particular, the integration of ROST Bank poses uncertainties because
the plan for its financial rehabilitation has not yet been finalized.
We are therefore lowering our long- and short-term counterparty credit
ratings on B&N Bank to 'B-/C'. We are lowering the Russia national scale
rating on B&N Bank to 'ruBBB-'. We are placing all ratings on CreditWatch
negative.
The CreditWatch placement reflects the lack of clarity regarding the
group's future structure and the possibility of further deterioration in
the financial profile.
We intend to resolve the CreditWatch during the next three months as we
gain greater clarity regarding these issues, especially the integration
of ROST Bank.}
MOSCOW (Standard & Poor's) Oct. 19, 2015--Standard & Poor's Ratings Services
today lowered its long- and short-term counterparty credit ratings on
Russia-based B&N Bank PJSC to 'B-/C' from 'B/B'. The Russia national scale
rating on B&N Bank was lowered to 'ruBBB-' from 'ruBBB+'.
The ratings were placed on CreditWatch with negative implications.
B&N Bank's capitalization has come under increasing pressure over the past
year as a result of its highly aggressive acquisition strategy, affecting its
stand-alone credit profile (SACP) and our ratings on it. B&N Bank's capital
adequacy metrics, as measured by our risk-adjusted capital (RAC) ratio before
adjustments for concentration and diversification, dropped to a very weak 1.6%
on June 30, 2015; we had expected this ratio to remain above 5%.
We anticipate that the bank is likely to gradually restore its RAC ratio to a
still-weak level of 3%-5% in the next 12-18 months if it receives the planned
capital injections and manages to optimize its group structure. However, it
does not totally remove our concern regarding the future solvency, because the
bank is operating in a very difficult economic environment in Russia.
The CreditWatch placement reflects our view of the substantial uncertainties
that the bank faces in relation to the integration of the troubled ROST Bank,
acquired last year under financial rehabilitation procedures initiated by the
Russian Central Bank and the Deposit Insurance Agency. We understand that the
government authorities have yet to finalize ROST Bank's rehabilitation plan
and the plan for its integration into B&N group.
We anticipate that B&N Bank will face very high integration risks in the next
12-18 months as it proceeds to consolidate the assets it has acquired. Our
base-case scenario assumes that the level of B&N consolidated group's
nonperforming loans (NPLs, more than 90 days overdue) will be moderately above
the sector average, not exceeding 15% in the next two years, which remains
very high compared with global peers (B&N Bank's stand-alone NPLs were at 5.4%
on June 30, 2015). This deteriorating quality of assets, coupled with weak
capitalization, heightens the risks for the bank's financial profile. The bank
has a diversified funding base, mostly comprising customer accounts, and
sufficient liquidity buffers. Its net broad liquid assets cover its short-term
customer deposits by 39%, which compares favorably with local peers.
We recognize that B&N Bank has grown in the past few years as it was chosen by
the regulator to facilitate financial rehabilitation of a number of troubled
banks and integrate them thereafter. However, we do not currently classify the
bank as having moderate systemic importance. We will monitor B&N Bank's role
in the Russian financial system as it proceeds with the integration of the
acquired banks and may reconsider our classification of its systemic
importance going forward. That said, before classifying the bank as moderately
systemically important, we would expect to see the government offering more
support to prevent the recurrence of last year's deterioration in the bank's
financial profile and rapid decline of its capital buffers.
We aim to resolve the CreditWatch placement within the next three months. Over
this timeframe, we expect to gain greater clarity regarding the rehabilitation
plan for ROST Bank and how B&N Bank plans to integrate ROST Bank into the B&N
group. At this stage, we do not expect to lower the rating by more than one
notch, but we recognize that the situation regarding B&N Bank's asset quality
and funding could evolve rapidly, given the current difficult operating
environment for banks in Russia.
We could lower the ratings on B&N Bank if we believe that its capitalization
has sustainably weakened, that our RAC ratio will stay below 3% because of
losses incurred while integrating the troubled assets the group has acquired
over the previous year, and that capital injections will be insufficient to
compensate for the bank's highly aggressive asset growth.
We could affirm the ratings if we considered that the risks emerging from the
integration process are sufficiently offset by capital injections from
shareholders and that our RAC ratio will stay comfortably above 3%. To affirm
the ratings, we would also expect B&N Bank's loan portfolio quality to be in
line with local peers, with NPLs not exceeding 15% of total loans. We would
also monitor how stable B&N Bank's liquidity is over the next few months.
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