Fitch: Outlook stable for Russian banks

Fitch Ratings said it revised the outlooks on 13 Russian banks, three European banking subsidiaries of Russian Bank VTB and two Russian leasing companies to stable from negative and affirmed their ratings following the agency's revision of the outlooks on Russia's long-term issuer default ratings to stable from negative.

The agency said the change in outlooks on the long-term issuer default ratings of ZAO Unicredit Bank, ZAO Raiffeisenbank, ZAO Citibank, Nordea Bank, CJSC Santander Consumer Bank, ZAO Danske Bank and Rosbank reflect the diminished likelihood of a downgrade of Russia's country ceiling (BBB+) following the change in the sovereign outlook.

The change in outlooks on the long-term issuer default ratings of Vnesheconombank, Sberbank, Bank VTB and Russian Agricultural Bank reflect Fitch's view of the now less likely deterioration in the government's ability to provide support in case of need.

The change in outlooks on the long-term issuer default ratings of Bank VTB North-West, Bank VTB24, VTB Leasing, VTB Bank (Austria), VTB Capital plc and Russian Commercial Bank (Cyprus) follows the revision of the outlook for their parent, Bank VTB, and the change in outlook on the long-term issuer default rating of VEB-Leasing follows the revision of the outlook for its majority owner, Vnesheconombank. Fitch said these actions indicate the more secure ability of VTB and Vnesheconombank to provide support due, in turn, to the now less likely deterioration in support from the Russian state.

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