Rating Agency RAEX (Expert RA) has downgraded the rating of the Bank “Kamskiy Gorizont” to “B” “Low level of creditworthiness,” and withdrew it. Before the withdrawal, the Outlook changed to “Negative”. The Bank’s previous rating at “B++” to “Satisfactory level of creditworthiness” with a Stable Outlook. About this MFD-InfoCenter reported to the rating Agency.
The downgrade and the establishment of a “Negative” Outlook is due to the significant increase in regulatory and operational risks related to cooperation under the Agency scheme with the company “Worldcars Moscow” and with the increase in the share of cash in assets (from 4.8% to 15.7% for the period from 01.08.2015 01.08.2016 on, 01.08.2016 they form 87% highly liquid assets of the Bank). The Agency also notes that with the end of 2015 in the structure of receipts on deposits of natural persons has come to dominate cash turnover, whereas previously it was balanced according to the forms of receipt of funds. In addition, pressure on the rating had a decrease in information transparency in the interaction with the Agency.
Factors which support the ratings were high values of capital adequacy (H1 01.08.2016.0=32.2%; H1.2=30.5%), reasonable values of liquidity ratios (N2=104.8%; N3=150.5%; N4=30.4% 01.08.2016), the low concentration of active transactions on major credit risk the major credit risks to assets minus reserves on 01.08.2015 amounted to 20.7%) and low level of accepted currency risks of the Bank.
The decision to withdraw the rating was made in connection with the presence of certain symptoms of the unreliability of the data provided by the Bank for conducting a rating evaluation. As a result, a further application of the methodology for assigning credit ratings of banks in order to maintain and possible revision of the rating Agency believes to be impossible.
Recall that CB “Kamskiy Gorizont” (Naberezhnye Chelny, registration number 2554) specializiruetsya lending FL, as well as corporate clients. The Bank’s head office is located in Naberezhnye Chelny, the Bank also has operational offices in the Republic of Bashkortostan and Samara region, and 10 credit-cash offices in Moscow. On 01.08.16 assets of the Bank grew 1.1 bn (532-th place in the ranking RAEX (Expert RA”), the amount of own funds 378.5 mln., profit after tax for the first half of 2016 – 11.9 mln.