Fitch confirms the high rating of “ORGRESBANK”, JSB


Fitch confirms the high rating of “ORGRESBANK”, JSB

International agency Fitch Ratings on February 1 confirmed ratings of “ORGRESBANK”, JSB: long-term issuer default rating (IDR) – “A-” (A minus), short-term rating – “F2”, individual – “D”, support ratings – “1”, long-term rating under national scale – “AAA (rus)”. The forecast for IDR and national long-term rating – “Stable”.

These ratings testify to the high grade of reliability and stability of the Bank, strengthening of its positions at the Russian financial market, high quaility of assets and considerable growth of indices of profitability and they also reflect the process of further improvement of the risk management systems.

In April 2007 Fitch Ratings raised the ratings of “ORGRESBANK”, JSB, a short time later the transaction of acquisition of 75,01% of shares thereof by the leading Scandinavian bank group “Nordea”. At that moment “ORGRESBANK”, JSB, became the second bank in Russia having received ratings of this level from the international agency Fitch.

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