Fitch rates Dalcombank B-

Fitch Ratings said it assigned Dalcombank a long-term issuer default rating of B-, national long-term rating of BB-, short-term issuer default rating of B, individual rating of E and support rating of 5. The ratings are on Rating Watch positive.

The ratings reflect potential support from the largest shareholder of the bank, Sistema JSFC, rated BB-, the agency said.

The ratings also consider its undercapitalization, high concentration risk, poor quality of the loan book, weak profitability and vulnerable liquidity, Fitch said.

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