October 03, 2014 international rating agency Moody’s Investors Service affirmed the bank’s ratings at: B2/Not Prime — long-/short term global foreign- and local- currency deposit ratings (negative outlook) and E+ - standalone bank financial strength rating (stable outlook) as well as Baa1.ru — national scale rating.
The change of outlook on Asian-Pacific Bank 's ratings is driven by the pressure on asset quality and profitability related to heightened risks in the bank’s consumer loan portfolio; the bank’s relatively low reserve coverage of non-performing loans (NPLs) and the pressure on current acceptable capital adequacy ratio.
Among the positive factors influencing its conclusion, the agency citied healthy capital buffer which provides the Bank with good loss-absorption. On top of that, the bank is less than peers exposed to risks stemming from unsecured lending and it has a more diversified loan book structure compared with most of retail banks.
«On the background of deteriorating macroeconomic and geopolitical environment, imposition of sanctions against Russia, contraction within the economy’s core sectors and banking asset quality erosion, positions of Asian-Pacific Bank in the market are stable and robust, which is confirmed by rating agencies," commented Mikhail Pavlov, Deputy Chairman of the Executive Board. «Affirmation of our ratings despite of negative outlook in current conditions is a good indicator of a balanced management approach as well as confidence in the prospects of the APB’s development for the management of the Bank and for our customers, partners and shareholders.»
Asian-Pacific bank also has the following ratings:
— «B+" - long-term foreign and local currency issuer default rating (IDR) by Fitch,
— «B» — short-term foreign currency IDR by Fitch,
— «A-(rus)» — national long-term rating by Fitch,
— «b+" - viability rating by Fitch,
— «5» — support rating by Fitch,
— «A+" - very high level of solvency, rating sublevel — I (the highest) by Expert RA
The outlook on all of the ratings is stable