Fitch affirms Probusinessbank

Fitch ratings said it affirmed Probusinessbank's (PBB) ratings at long-term B-, short-term B, individual D, support 5 and national long-term BB+(rus).

The outlooks on the long-term and national long-term ratings remain stable.

Fitch said the long-term, short-term, national long-term and individual ratings reflect PBB's small size by international standards, low core profitability and the significant costs and operational risks arising from its ambitious strategy for expansion into new regions and business areas.

The agency added upward pressure on PBB's ratings could result from a substantial increase in the bank's size and franchise without asset quality deterioration, a reversal of downward capitalization trends and a significant improvement in core profitability.

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