30 ноября 2016 года 08:46
S&P повысило рейтинги "Бинбанка" до "B/B"
30 ноября. FINMARKET.RU - Международное рейтинговое агентство S&P Global Ratings повысило долгосрочные и краткосрочные рейтинги Бинбанка (MOEX: BNBK) в иностранной и национальной валютах с "B-/С" до "B/B", сообщается в пресс-релизе агентства.
Прогноз долгосрочных рейтингов банка - "стабильный".
Рейтинговое действие связано с завершением объединения с МДМ банком, о котором Бинбанк объявил 18 ноября.
Кроме того, рейтинг банка по национальной шкале был повышен с "ruBBB" до "ruA-".
"С учетом увеличения доли рынка нового Бинбанка по общему объему активов в отрасли (2,3%) и розничным депозитам (2,5%) мы считаем, что теперь он обладает умеренной системной значимостью для российского банковского сектора. Таким образом, мы полагаем, что вероятно получение банком поддержки со стороны российского правительства в случае необходимости", - говорится в сообщении S&P.
Агентство ожидает сохранения достаточности капитала, скорректированного с учетом рисков (RAC), в диапазоне от 4,7% до 5% в ближайшие два года.
"Стабильный" прогноз отражает мнение аналитиков S&P о том, что Бинбанк сохранит клиентскую базу и финансовые показатели, а также улучшит достаточность капитала и рентабельность, несмотря на продолжающийся в России экономический спад и незавершенный процесс интеграции.
К Бинбанку в 2016 году были присоединены четыре кредитные организации: банк "Кедр", "Бинбанк Смоленск", "Бинбанк Сургут" и "Бинбанк Тверь". Также к группе присоединился "Бинбанк кредитные карты". Этот банк продолжает работать как самостоятельное юридическое лицо, однако с технологической точки зрения он полностью интегрирован в Бинбанк.
Бинбанк по итогам девяти месяцев 2016 года занял 12-е место по размеру активов среди российских банков в рэнкинге "Интерфакс-100", подготовленном "Интерфакс-ЦЭА".
Опубликовано /Интерфакс/
http://www.finmarket.ru/currency/news/4422177 Russia-Based B&N Bank Upgraded To 'B/B' After MDM Bank Merger; Outlook Stable
29-Nov-2016 15:34 GMT
•On Nov. 18, 2016, B&N Bank completed its merger into MDM Bank, with MDM
Bank simultaneously being renamed as B&N Bank. The combined bank will
operate under the name B&N Bank.
•We are withdrawing the ratings on the entity previously named B&N Bank,
at the issuer's request, due to its merger into MDM Bank.
•The enlarged newly merged entity has a 2.3% market share of total assets
in the Russian banking sector and 2.5% of retail deposits and as such we
consider it has attained a material level of systemic importance.
•We are therefore raising our long- and short-term counterparty credit
ratings on the newly combined B&N Bank to 'B/B' from 'B-/C' and our
Russia national scale ratings to 'ruA-' from 'ruBBB'.
•The stable outlook reflects our view that despite economic slowdown in
Russia and the ongoing integration process, B&N Bank will maintain its
franchise and financial profile, supported by its improving
capitalization and profitability.
MOSCOW (S&P Global Ratings) Nov. 29, 2016--S&P Global Ratings today raised its
long- and short-term counterparty credit ratings on Russia-based B&N Bank
(formerly MDM Bank) to 'B/B' from 'B-/C'. The outlook is stable.
At the same time, we raised the Russia national scale rating on B&N Bank to
'ruA-' from 'ruBBB'.
We have withdrawn our ratings on the entity previously named B&N Bank, at the
issuer's request, due to its merger into MDM Bank.
The upgrade follows the completion of the merger of B&N Bank into MDM Bank and
the simultaneous renaming of the combined entity as B&N Bank. Given the new
B&N Bank's increased market share in sector total assets (2.3%) and retail
deposits (2.5%), we now consider it to have moderate systemic importance for
the Russian banking sector. We therefore believe it would likely receive
support, if required, from the Russian government, which we classify as
supportive toward systemically important private-sector commercial banks. The
counterparty credit rating is therefore one notch above our assessment of the
bank's stand-alone credit profile, which we assess at 'b-'.
Our assessment of B&N Bank's business position remains unchanged, balancing
increased market share and still volatile earnings as well as the potential
risks the entity could face while accomplishing full integration of the banks.
We think that B&N Bank's development strategy is reasonable and expect the
management team to continue transforming the bank into a strong player with a
reliable long-term business model, efficiency comparable with peers', and
improved earnings capacity.
The merger had an overall positive effect for the combined bank's capital
position. We anticipate that B&N Bank's risk-adjusted capital (RAC) ratio will
stay in the range of 4.7%-5.0% over the next two years, if we take into
account a planned additional capital injection of RUB10 billion (about $154
million) from the owners and other capital support measures amounting to RUB15
billion to be completed by year-end 2016.
We forecast that credit costs are likely to reduce and then stabilize at
around 3.0% for the consolidated entity, due to the expected reduction in
nonperforming loans and a currently sufficient level of loan loss provisions.
In our view, internal capital generation remains a constraint to the bank's
stand-alone credit quality while we expect earnings buffers to be marginally
positive (within 20 basis points), suggesting some ability to cover normalized
losses and therefore to support internal capitalization capacity.
Our assessment of B&N Bank's risk position factors in the risks related to the
bank's quite aggressive expansion over recent years, its substantial exposure
to the problematic ROST Bank, as well as its asset quality, which is average
for the system. Exposure to ROST Bank remains one of the key risks for B&N
Bank, in our view. We estimate this exposure at RUB466 billion, or 5x total
adjusted capital (TAC) as of mid-2016. B&N Bank remains directly exposed to
the risks of ROST Bank through an interbank loan. Further evolution of this
exposure will depend on the performance of Rost Bank's loan portfolio, which
is expected (under the current financial rehabilitation plan to be approved by
Central Bank of Russia and Deposit Insurance Agency) to start principal
repayments after 2020. We believe that we have adequately captured this
exposure in our risk position assessment of moderate.
The bank's average funding and adequate liquidity reflects its predominantly
deposit-based funding, and an adequate share of liquid assets. Customer
deposits amounted to about 73% of the bank's consolidated total liabilities as
of mid-2016, with a major part of that (81%) coming from retail customers,
supporting good single-name diversification (with the top-20 deposits
accounting for less than 10% of total deposits at mid-2016).
The stable outlook reflects our belief that, following the merger with MDM
Bank, the newly enlarged B&N Bank will maintain its franchise and financial
profile, supported by its improving capitalization and profitability, despite
the continuing economic slowdown in Russia and ongoing integration process.
Nevertheless, we acknowledge that the integration process continues and the
bank still needs to demonstrate that the merger will result in the creation of
a sustainably stronger entity than either of the two entities individually.
We could take a negative rating action if the bank's loss-absorption capacity
materially weakens over the next 12 months due to faster-than-expected balance
sheet growth, creation of significant additional provisions, or other one-off
items that could negatively affect profitability and capitalization, as
indicated by our RAC ratio falling close to or below 3%.
We consider ratings upside to be limited this stage and would depend on: the
bank's ability to show that the business model of the merged entity is stable
and sustainable; the absence of additional integration risks; and generation
of positive net income while maintaining capitalization with significant
buffers.