12 January 2004
FitchRatings agency assigned Vneshtorgbank a BB+ long-term credit rating which is similar to the sovereign rating of the Russian Federation. The rating forecast is stable.
The fact that Vneshtorgbank was granted so high rating reflects a core part VTB plays in the Russian banking sector and a high support from the Russian Government which is the major shareholder of the Bank. In deciding the rating FitchRatings also considered the VTB`s positive financial record: substantial capitalisation, high return on transactions, well-balanced asset structure, and steady funding sources.
Moreover, FitchRatings assigned Vneshtorgbank a В short-term rating, a С\D individual rating and a 3 support rating.
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