Higher financial strength rating for Hansabank Group
2005-11-17 Back
International rating agency, Moody's increased Hansabank Group's financial strength rating to C+ without changing its positive rating prognosis.
Until recently, Hansabank Group's financial strength rating was C. Moody's has pointed out that the higher rating reflects a solid position of Hansabank Group in the Baltic countries and its total financial standing, including high quality of assets, stable profitability and sufficient retail deposits base that ensures adequate development of financing activities. Hansabank Group's borrowing and deposit ratings, A1/P-1 indicates a high likelihood of support from its owner, Swedbank, whose respective rating stands at Aa3/P-1/B.
International rating agency, Moody's has also confirmed Hansabank Group's stable borrowing and deposit rating prognosis.
In addition to increasing Hansabank Group's financial strength rating, Moody's also noted the fact that Hansabank had retained its overall dominant positions in Estonian market and held large market shares in Latvia and Lithuania. The said rating also reflects a solid financial base.
Hansabank is continuing to demonstrate a growth of efficiency of its activity and high quality of its assets.
