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The rating of Primorye Bank is confirmed by AK & M
The AK&M rating agency has affirmed the national scale credit rating of “A” (first sublevel) to Primorye Bank, with a “stable” outlook.
Rating "A" means that "Primorye" refers to the class of borrowers with a high degree of creditworthiness. The risk of late fulfillment of obligations is low, the probability of restructuring the debt or part of it is minimal.
The factors supporting the credit rating are the qualitative growth of the basic balance sheet and operating indicators, the good quality of the loan portfolio, and stable profitability of operations.
In the period under review, no violations of the established standards of liquidity and credit risks were recorded by the bank, while the indicators of standards are close to the average bank benchmarks and are within the limits acceptable by the requirements of the Bank of Russia.
According to the AK&M agency, the main constraining factors are the relatively low level of equity capital adequacy (Н1). As of July 1, 2014, the capital adequacy ratio tended to decrease and as of September 1 was 10,92. The capital quality indicator (the ratio of Tier II capital to Tier I capital) as of September 1, 2014 was at the level of 33,6%, which exceeds the level recommended by the regulator (no more than 30%), but at the same time corresponds to the level recommended by the Basel Accord (less 50%).
The factors of deterrence include the decline in profitability of assets in the period under review.