FITCH affirmed Loko-Bank's rating at B + level, raising the outlook from "Stable" to "Positive"

The international rating agency FitchRatings on September 20, 2018 confirmed Loсko-Bank previously assigned a credit rating at the level of B +, raising the outlook from "Stable" to "Positive":

• Long-term foreign and local currency IDRs affirmed at 'B +', the outlook revised from 'Stable' to 'Positive';
• Short-term foreign currency IDR: affirmed at 'B'
• Viability Rating: affirmed at 'b+'
• Support Rating: affirmed at '5'
• Support Rating Floor: affirmed at 'No Floor'
• Senior unsecured debt: affirmed at 'B+'/Recovery Rating 'RR4'

Alexey Parfenenok, Financial Director of Locko-Bank:

"The affirmation of the rating reflects the financial reliability of the Bank and is based on a stable credit profile with a sufficient level of capitalization, reasonable asset quality, high profitability and a comfortable liquidity position. At the same time, the revision of the rating outlook to Positive reflects the observation by the rating agency of the successful consistent implementation of the Bank's strategy aimed at building a sustainable client business, reducing concentration on high-risk corporate lending sectors and minimization of credit risk and means a high probability of raising the issuer's long-term rating in the next 12- 18 months to the level of BB-. "