According to RusRating senior analyst Larisa Makarenko, the rating is based on membership in an established financial-industrial group, a solid client base, stable financial indicators and steady growth trends even under crisis conditions.

According to Victoria Belozerova, Director of Rating Review & Macroeconomics at RusRating, the change in outlook (from “stable” to “positive”) is due to the Rossia Bank take-over.

According to Elena Nikolayenko, Director of Methodology at RusRating, the change in outlook reflects the steady development of the Bank’s post-merger business; the rising percentage of the resource base accessed on market conditions and falling dependence on affiliated parties; systematic implementation of the Bank’s growth strategy; and a decline in reputation risks.

According to RusRating senior analyst Larisa Makarenko, the rating increase is due to the approaching merger of RPSB into Orient Express Bank and reflects the level of risk applicable to the combined bank.
The rating is based on strong support from the Bank’s owners, high capital adequacy and healthy asset quality. Constraining factors include a funding base reliant on personal deposits and on-call resources and a likely increase in credit risks under uncertain economic conditions.

According to senior RusRating analyst Victoria Belozerova, the change in outlook (from stable to positive) reflects the initiation of a merger process between Rosbank and other SocGen subsidiaries in Russia. 

According to senior RusRating analyst Elena Nikolayenko, the rating increase reflects the Bank’s successful handling of an economy-wide crisis and continuing healthy asset quality (including minimal credit risks); strong liquidity management; and the general observed stability of its business.

Positive factors include the owners’ commitment to the Bank and substantial financial/political resources; healthy capital adequacy; solid market positions at the regional level; and a stable circle of corporate clients. plus funding and liquidity independent of the interbank market. Constraining factors include reliance on on-call corporate client resources and retail deposits, limited access to long-term liquidity, and risks arising from dependence on non-financial resources.

According to RusRating senior analyst Larisa Makarenko, the rating increase reflects a steady recovery in loan growth and profitability measures.

The rating is based on high capital adequacy, the support of the Bank’s owners and access to federal government credit, advanced technology and positive development trends. Constraining factors include a decline in returns on client loans, weak market conditions in the Bank’s profile segment, and limited scope for refinancing obligations.

ABOUT THE BANK

Orient Express Bank (the former Dalvneshtorgbank) is a larger private-sector regional bank whose shareholders include both private individuals (S.N. Vlasov, I.V. Kim, A.A. Bekarev and A.A. Taranov) and portfolio investors (investment funds controlled by the Renaissance Group). In 2005 the Bank opted to become a retail specialist and since that time has seen dynamic growth; a well-developed service network now covers a substantial portion of the country. The Bank has experience accessing public capital markets both domestically and internationally and is moderately active in interbank loans. Etalonbank, another former member of the informal URSA banking alliance, was merged into Orient Express in 2009, followed by the previously-unaffiliated Bank Dvizheniye (Tomsk) and Kamabank (Perm). Strategy calls for the further consolidation of smaller regional banks.


ZAO RusRating is an independent rating agency accredited by the National Securities Market Association and whose ratings have been recognised by the Central Bank of Russia. The company was set up in 2001 and is a member of the GlobalRating group, which also includes rating agencies in Kazakhstan (KzRating), Armenia (AmRating) and Azerbaijan (AzeriRating). Its primary services are the provision of credit ratings to banks, leasing and industrial companies, as well as bonds; it also provides analysis of various aspects of the Russian financial sector.