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Standard & Poor's assigns its ruAA+ Russia national scale rating to Vneshtorgbank

 
15 June 2006

On June 14, 2006, a globally recognized rating agency Standard & Poor's assigned its 'ruAA+' Russia national scale rating to Vneshtorgbank. At the same time the 'BBB' long-term and 'A-2' short term counterparty credit ratings were affirmed. The outlook is stable.

These ratings are reflective of a core role VTB plays in the Russian banking industry and strong support from the Russian government, which is a major shareholder of the Bank. Also, Standard & Poor's relied on VTB's strengthened financial profile, expanded market position, and good growth prospects in a favorable macroeconomic environment.

Specifically, Standard & Poor's emphasized some major competitive strengths of Vneshtorgbank, namely: its strong positions in corporate services, investment banking and also in such segments of banking industry as retail services and SME lending. Among other positive factors highly rated by Standard & Poor's were the quality of VTB's resource base and its liquidity indicators, as well as the Bank's growth potential resulting from, among other things, the acquisition of Russian foreign banks abroad and Promstroibank in 2005.


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