Fitch: B.I.N. Bank view positive

Fitch Ratings said it removed B.I.N. Bank's long-term issuer default rating and national long-term rating from Rating Watch positive and assigned a positive outlook. Fitch also affirmed its long-term issuer default rating at B-, short-term issuer default rating at B and national long-term rating at BB(rus).

The action follows news that the bank's majority owner has cancelled the planned sale of the bank to a local businessman, Fitch said.

The ratings were put on positive watch in March when the owner of the bank announced a possible sale. Under the current ownership structure, political risk remains, Fitch said. The agency also said it is concerned about fraud and tax evasion charges facing the owner's uncle.

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