Fitch rates Getin Bank BB

Fitch Ratings said it assigned Getin Bank SA an issuer default rating of BB, short-term rating of B, individual rating of D and support rating of 5.

The outlook is stable.

The issuer default, short-term and individual ratings reflect Getin Bank's operational risks, short track record, small size and moderate liquidity and capitalization, Fitch said. The ratings also reflect the bank's success in building a profitable franchise, its high cost-efficiency and small appetite for market risk.

Downside risk to Getin Bank's ratings could result from evidence of mismanaged growth, a weakening of asset quality caused by a downturn in the housing market or a significant decline in capitalization or liquidity, the agency added. The bank's rating could be upgraded if Getin Bank continues to increase the size and strength of its franchise and demonstrates a longer track record of successful credit risk management, Fitch said.

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