Russian rating agency RIA Rating has affirmed its national scale creditworthiness rating of A- on Bank RSB 24 (Russlavbank), with a stable outlook. The bank's financial standing is assessed as good.
"A considerable amount of highly liquid assets and their growth are mitigating the risks associated with the bank's loss of liquidity. The bank's liquidity ratios are high. As of September 1, 2015 the lender's N2 equaled 62% (62%, on average, for 2015), while N3 stood at 170% (126%, on average, for 2015)," the agency said in a press release.The bank's rating is also influenced by stable funds held on loro accounts. For instance, in 2015 funds held on these accounts have not declined below Rub 1.7 bln, while average balances as of balance sheet dates equaled Rub 2.4 bln. This is a sign that counterparty banks trust the financial institution, and this allows Bank RSB 24 to have access to a relatively cheap source of funding, analysts added.