Bank Respublika kapitalını 10 milyon manatadək artırır 

Dekabrın 19-da "Moody's Investors Service" beynəlxalq kredit reytinqi agentliyi Azərbaycanın "Bank Respublika" ASC-nin uzunmüddətli xarici və yerli valyutada depozit reytinqini "B3" səviyyəsindən "Caa1" səviyyəsinə endirib.  Reytinqin proqnozu "neqativ" olaraq qalır.

Həmçinin Bankın kredit ödəmə qabiliyyətinin baza səviyyəsi (Baseline Credit Assessments - BCA) "b3"dan "caa1"ə azaldılıb.

Bundan başqa, Moody’s agentliyi Bank Respublikanın kontragent riskləri üzrə reytinqini "B2" səviyyəsindən "B3" səviyyəsinə endirib. Kredit reytinqlərinin aşağı salınması bankın zəif ödəmə qabiliyyəti mövqeyi ilə şərtləndirilir.

KAPİTAL EHTİYATLARA GÖRƏ AZALIB, AMMA ARTIRILACAQ

"Bank Respublika" ASC-dən "Marja"ya bildirilib ki, ehtimal edilən kredit risklərini qarşılamaq məqsədilə ehtiyatların yaradılması kapitalın azalması ilə nəticələnib. Bu səbəbə əsaslanaraq, Agentlik Bankın reytinqlərində dəyişiklik etmişdir. 

Həmçinin, bankın davamlı inkişafını təmin etmək məqsədilə səhmdarlar nizamnamə kapitalının 10 milyon manat məbləğində növbəti artım haqqında razılığa gəliblər.

"Bu artım bankın gəlirliyinin artması ilə yanaşı reytinqin artımı istiqamətində yenidən baxılması üçün əsas yaradır",- Bankdan bildirilib.

Bankdan onu da qeyd ediblər ki,agentliyin analitikləri maliyyə təşkilatlarınınəsas dayanıqlıq parametrlərindən biri olan likvidlik parametrinin güclü olmasını vurğulayıb.

Xatirladaq ki, Bank Respublika 2016-cı ilin sentyabr ayında kapitalını 20 milyon manat məbləğində artırmışdır və hal-hazırda bankın nizamnamə kapitalı 57.5 mln təşkil edir.

“Bank Respublika” ASC 22 may 1992-ci il tarixdə Azərbaycan Respublikası Milli Bankının lisenziyası əsasında fəaliyyətə başlamışdır və 25 ildir ki, “Sizə Faydalı” şüarına sadiq qalaraq, effektiv maliyyə xidmətləri göstərir.

Bankın səhmdarları sırasında Almaniyanın iki tanınmış maliyyə institutu təmsil olunur – KfW (Almaniyanın Dövlət Bankı) bank qrupunun üzvü DEG İnvestisiya Şirkəti və Sparkassen-Finanzgruppe maliyyə qrupunun üzvü Sparkassen International Development Trust.

Moody's downgrades Joint Stock Commercial Bank Respublika's ratings to Caa1; outlook negative

Moody's Investors Service has today downgraded Joint Stock Commercial Bank Respublika's (Bank Respublika) long-term foreign- and local-currency deposit ratings to Caa1 from B3. The bank's baseline credit assessment (BCA) and adjusted baseline credit assessments were downgraded to caa1 from b3. The outlook on the long-term local- and foreign-currency deposit ratings remain negative.

The bank's Not-Prime short-term foreign-currency and local-currency deposit ratings were affirmed. Concurrently, Moody's has downgraded the bank's long-term Counterparty Risk Assessment (CR Assessment) to B3(cr) from B2(cr) and affirmed its short-term CR Assessment of Not Prime(cr).

The rating action is driven by weak solvency of the bank, in particular owing to material erosion of the bank's capital and ongoing net losses, as well as the need for an equity injection to meet regulatory capital requirements.

RATINGS RATIONALE

The downgrade of credit ratings is driven by the bank's weaker solvency position. The bank reported a very low 4.7% tangible common equity to risk-weighted assets ratio as of year-end 2016 under IFRS as per Moody's estimates, compared to 8.7% in 2015. The drop in the capital ratio was driven by large loan provisioning charges.

Amid continued losses through 2017, its regulatory capital decreased to AZN39.8 million as of 1 December 2017, which is below the minimal threshold of AZN50 million. The bank currently operates under regulatory forbearance and its shareholders are discussing capital replenishment plans including AZN10 million additional share issue. Moody's believes it may materialize early next year, if approved by the shareholders.

Moody's expects that the bank's internal capital generation capacity will remain weak in the next several quarters owing to loan book deleverage. The gross loan portfolio as of 1 December was 17% below the level reported at the end of 2016, although since recently it has stabilized and returned to growth. The net interest income accounted for just 24% of net revenue over the first 11 months of 2017 under local GAAP. Moody's believes that volatile non-interest income will restrain recovery of the bank's profitability in the next 12-18 months, which is captured by the negative outlook on the ratings.

The bank's non-performing loans (NPL) overdue by more than 90 days accounted for 8.9% of gross loans at the end of 2016 and restructured loans comprised another 20% according to bank's audited IFRS report. Loan loss reserves at 8.8% of gross loans fully cover NPLs, but provide only limited coverage of restructured loans suggesting additional provisioning might be required in the next 12-18 months.

The bank held strong liquidity cushion with cash, cash equivalents and due from banks accounting for 56% of total assets as of 1 December 2017. Excluding due to financial institutions its adjusted liquid asset ratio amounted to 28% of balance sheet, which is considered robust by the rating agency.

WHAT COULD MOVE THE RATINGS UP / DOWN

A substantial improvement of the capital cushion, along with a recovery in profitability could enable a return to a stable outlook on the ratings.

The ratings could be lowered if financial fundamentals, namely capitalization and asset quality, erode beyond Moody's current expectations.

LIST OF AFFECTED RATINGS

Issuer: Joint Stock Commercial Bank Respublika

Downgraded

....LT Bank Deposits, Downgraded to Caa1 from B3, Outlook Remains Negative

....Adjusted Baseline Credit Assessment, Downgraded to caa1 from b3

....Baseline Credit Assessment, Downgraded to caa1 from b3

....LT Counterparty Risk Assessment, Downgraded to B3(cr) from B2(cr)

Affirmations:

....ST Bank Deposits, Affirmed NP

....ST Counterparty Risk Assessment, Affirmed NP(cr)

Outlook Actions:

....Outlook, Remains Negative

PRINCIPAL METHODLOGY

The principal methodology used in these ratings was Banks published in September 2017. Please see the Rating Methodologies page on www.moodys.com for a copy of this methodology.