Moody's upgrades outlook on Bank St Petersburg rating to Positive

MOSCOW, Aug 23 (PRIME) -- International rating agency Moody’s has upgraded its outlook on a B1 long-term foreign currency deposit rating of Bank Saint Petersburg, the biggest bank in Russia’s northwest, to Positive from Stable, it said in a statement on Thursday.

“The change of (Bank Saint Petersburg’s) rating outlook to Positive from Stable reflects improving trends in the bank's asset quality and profitability, coupled with its relatively good capital buffer. The rating action is also underpinned by the bank's stable funding and liquidity profiles,” the agency said.

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