Fitch updates National Bank Trust

Fitch Ratings said it issued a credit update on National Bank Trust, formerly Bank Menatep St. Petersburg. The bank's ratings are long-term CCC+, short-term C, support 5 and individual D/E. The long-term outlook is positive.

JSC Bank Menatep Saint Petersburg was recently renamed National Bank Trust, with a view to promoting a closer sense of identity with its sister bank, Trust Investment Bank. In May 2004, Menatep St. Petersburg's board members carried out a management buyout of National Bank and Trust Investment Bank from Group Menatep.

Since the buyout, Fitch said the level of integration between both banks has increased. However, Fitch said it understands there are no plans to merge the two banks.

© 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.