ACRA affirms B(RU) to JSC «BANK REALIST», with the status “Rating under revision: developing”

The affirmed credit rating of JSC «BANK REALIST» (hereinafter, the Bank) at B(RU) with the “Rating under revision: developing” status reflects ACRA’s opinion on the Bank’s prospects and possible changes in its standalone creditworthiness assessment (SCA) in the near future.

The assignment of the “Rating under revision: developing” status was based on the expected merger of the Bank with «BaikalInvestBank» JSC (hereinafter, BaikalInvestBank; ACRA rating B-(RU), status “Rating under revision: developing") in the next 90 days. The procedures related to restructuring and merger of the credit institutions have not been completed yet.

JSC «BANK REALIST» (formerly known as JSC BANK МРВ) is a small-size credit institution operating primarily in Moscow. The Bank is focused on lending to non-financial companies and issuing bank guarantees.

Key rating assessment factors

ACRA is maintaining the credit rating of the Bank at B(RU) due to the adequate assessment of the Bank’s capital adequacy and its adequate liquidity and funding position coupled with a weak business profile and satisfactory risk profile.

ACRA plans to consider the issue of resolving the status of the credit rating within the next 90 days, as information becomes available on the final parameters of the merger.

Key assumptions

  • Completion of BaikalInvestBank’s restructuring through the merger with the Bank.

Potential outlook or rating change factors

Removal of the “Rating under revision: developing” status and revision of the credit rating may be prompted by:

  • Continuation of business by the Bank as a standalone credit institution.

Rating components

Standalone creditworthiness assessment (SCA): b.

Adjustments: none.

Support: none

Issue ratings

No outstanding issues have been rated.

Regulatory disclosure

The credit rating was assigned under the national scale for the Russian Federation based on the Methodology for Credit Ratings Assignment to Banks and Bank Groups Under the National Scale for the Russian Federation, and the Key Concepts Used by the Analytical Credit Rating Agency within the Scope of Its Rating Activities.

For the first time, the credit rating of JSC «BANK REALIST» was published by ACRA on July 6, 2018. The credit rating is expected to be revised within 90 days following the publication date of this press release.

The assigned credit rating is based on the data provided by JSC «BANK REALIST», information from publicly available sources, as well as ACRA’s own databases. The rating analysis was performed using IFRS consolidated statements of JSC «BANK REALIST» and statements of JSC «BANK REALIST» composed in compliance with the Bank of Russia Ordinance No. 4927-U dated October 8, 2018. The credit rating is solicited, and JSC «BANK REALIST» participated in its assignment.

No material discrepancies between the provided data and the data officially disclosed by JSC «BANK REALIST» in its financial statements have been discovered.

ACRA provided no additional services to JSC «BANK REALIST». No conflicts of interest were discovered in the course of credit rating assignment.

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