18 August 2004
International Rating Agency Moody’s assigned the financial stability rating E+ and ratings B2/NP to Vozrozhdeniye Bank on long-term and short-term deposits in the foreign currency. All ratings have a favorable forecast.
By the Moody’s report, the ratings assigned to Vozrozhdeniye Bank reflect the Bank’s position on the market and its well—developed market niche in servicing middle-sized enterprises outside Moscow, mostly in the Moscow Region. The Bank’s retail business is on the sound basis, which serves as a source of relatively stable resources.
Regardless of the fact that by international standards the Bank is still not big enough, it is among 30 top banks in Russia and can be called one of the few banks with the diversified composition of shareholders, whose shares are listed in the stock market.
At the moment 24 major Russian banks have the Moody’s rating. Among them 13 banks are ranked within B category by long-term deposit rating, others — within Ba category, mostly these are banks with foreign and state participation. The financial stability rating E+ is assigned to 18 out of 24 top Russian banks. Ratings of the Russian banks are limited within the range of the sovereign Russian Federation rating — Baa3/NP range.