Moody's: Getin Bank view negative

Moody's Investors Service said it changed the outlook on Getin Bank's Ba2 long-term local- and foreign-currency deposit ratings to negative from stable.

The change was prompted by concerns that recent adverse trends in the Polish operating environment will make it more difficult for the bank to maintain its above-average growth rates and profitability ratios, according to the agency.

Another concern is that, although Getin Bank has significantly grown its customer deposit base, its lending expansion has been based on borrowed funds and the large portion of foreign exchange assets creates potential risks in terms of asset/liability mismatching, the agency said.

The bank's efficiency and profitability remain among the best in its peer group and may act as a cushion in the event of a mild downturn, Moody's noted.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.