China’s largest independent rating agency Dagong affirms 'A-' international scale credit rating to Gazprombank and assigns 'AAA' China’s long-term issuer national scale rating
15 March 2017
Beijing, 15th of March, 2017 - On the 14th of March 2017 Dagong Global Credit Rating Company Limited (Dagong), China's biggest independent rating agency, assigned 'AAA' China’s long-term issuer national scale rating.
At the same time, Dagong affirmed both national and international currency 'A-' credit rating to Gazprombank, one notch lower than Russia’s sovereign rating.
The outlooks of the ratings are stable.
According to the Agency’s rating report, Gazprombank maintains a solid market position benefiting from its superior high quality and stable corporate clients, its operating income keeps growing and its net interest margin has widened slightly.
Gazprombank’s financial position is characterized by sufficient capital and controllable liquidity profile with various accessible financing sources and a reasonable funding repayment structure. The Bank’s asset quality is rather secure through relatively low non-performing loan ratios compared with its Russian peers and adequate level of provisions.
«Cooperation with an independent Chinese rating agency offers Gazprombank an additional opportunity to develop awareness among Asian partners», – noted Gazprombank’s First Vice President, Denis Kamyshev.