Fitch affirms Sberbank

Fitch Ratings said it affirmed Savings Bank of the Russian Federation's (Sberbank) long-term issuer default ratings at BBB+ and short-term issuer default rating at F2.

The outlook is stable.

The ratings reflect Sberbank's importance to the Russian banking sector, owing to its unmatched size and domestic franchise and its majority state ownership, Fitch said.

The ratings also consider some loan concentrations, risks associated with its rapid asset growth, high operational risks stemming from the bank's extensive network and the still challenging, although improving, operating environment, the agency said.

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