RIA Rating has affirmed its national scale creditworthiness rating of BBB on StarBank, and the rating outlook was set as stable.
"In the past two months the bank's equity rose Rub 1.4 bln, or 71%. Equity growth directly related to the support of the bank's shareholders through assets received for free (over Rub 3 bln in July 2015, Rub 500 mln of which in cash and the rest as real estate)," the agency's analysts specified.
Meanwhile, the lender's capital adequacy ratio rose from 11.6% as of July 1, 2015 to 16.4% as of August 1, 2015 or way above the banking system's average (12.9% based on CBR's data).
Shareholder support amid crisis trends in the economy shows that its shareholders are greatly interested in the bank's development, RIA Rating thinks. The risk of the bank losing liquidity in the short and medium term is not high, analysts believe.
The negative factor for StarBank's rating is the credit portfolio quality. NPLs have more than tripled YTD to Rub 416 mln as of August 1, or from 1.9% to 3.9% as of January and August 1, 2015, respectively. Moreover, this July the bank reported a steep rise (6x or Rub 1.2 bln) in provisions against the credit portfolio. 015, which pushed up capital adequacy to 16%.