S&P ups International Bank of Saint-Petersburg

Standard & Poor's said it revised its outlook on International Bank of Saint-Petersburg to positive from stable, and affirmed its CCC+/C long- and short-term counterparty credit and ruBB Russia national scale ratings.

The outlook revision reflects macroeconomic improvements in Russia, which are reducing risks for domestic banks, including International Bank of Saint-Petersburg, S&P said.

Also factored in is the bank's strengthening risk management function, which should improve risk control, constrain risk appetite and enhance the risk-reward balance, the agency added.

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