Fitch affirms AK Bars

Fitch Ratings said it affirmed AK Bars Bank's ratings at long-term B+, short-term B, support 4, individual D and national long-term A-(rus).

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

The long-term, short-term and support ratings of AK Bars are driven by the moderate likelihood of support being available from the government of the Republic of Tatarstan (BB), Fitch stated.

AK Bars' individual rating reflects its weak, albeit improving, performance, high loan concentration, substantial funding from related parties and considerable market risk, as well as certain weaknesses in the bank's operating environment, the agency said.

However, it also takes into account its currently strong capitalization and solid niche in the republic's banking sector, Fitch added.

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