RAEX confirmed UNISTREAM A+ national credit rating

Expert RA Rating Agency (RAEX) confirmed the UNISTREAM Bank А+ national credit rating (Very high level of creditworthiness), second sub-level, and downgraded the international credit rating to BВВ- (Moderately high level of reliability and/or long-term creditworthiness). Earlier the bank enjoyed the BBB international scale credit rating. The outlook is stable for both rating types. 

Positive influence on the bank’s creditworthiness is exerted by a moderately high capital adequacy level (as of 01.02.2015, Н1.0=15.5%), good balance of assets and liabilities by their maturities (as of 01.02.2015, Н2 = 86.8%, Н3 = 119.6%, Н4 = 1.7%) and strong competitive positions in the Russian and CIS money transfer market. As positive factors, RAEX highlights a good quality of the loans granted to credit institutions, a good diversification of raised funds via partner banks and a high reliability of the main settlement bank of the UNISTREAM Money Transfer System. 

“The RAEX analysts think that the Russian sovereign risk level downgrading will influence the financial sector including the money transfer market which has caused the lower international credit rating”, RAEX Bank Rating Director Stanislav Volkov comments. According to Expert RA, the rating is restricted by operational risks, related to storing and transporting cash (the average ratio of 20202 and 20209 accounts monthly debit turnovers to the total assets in 2014 amounted to 755.8%).

CB UNISTREAM OJSC (Moscow, registration no. 3467) specializes in money transfers. The head office and 97 cashier offices are located in Moscow, and over 330,000 outlets operate in all Russian federal districts and in almost 100 countries. As of 01.02.2015, the bank’s assets according to the Russian Accounting Standards (RAS) amounted to Rb 3.6 bn (ranked 446th by RAEX), equity amounted to Rb 632.5 mn, 2014 profit before tax (without considering the post balance sheet events) made Rb 86.1 mn.


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