Fitch affirms Sberbank

Fitch Ratings said it affirmed the Savings Bank of the Russian Federation's (Sberbank) BBB long-term debt rating, F3 short-term debt rating, 2 support rating and C/D individual rating.

The outlook is stable.

The long-term, short-term and support ratings reflect Sberbank's importance to the Russian banking sector, due to its unmatched size and domestic franchise, and its majority state ownership, Fitch said.

Sberbank's individual rating reflects the depth of its franchise and its strong and stable funding base. However, the agency said it also reflects the bank's moderate performance, high loan concentration levels and relatively high-risk operating environment.

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