Moody's: Gazbank view stable

Moody's Investors Service said it changed the outlook on the B3 long-term global local- and foreign-currency deposit ratings of Gazbank JSCB to stable from negative, and affirmed all of the bank's global-scale ratings, along with its Baa3.ru national scale credit rating.

The outlook change was prompted by a combined improvement in Gazbank's asset composition and risk management, stabilization of the bank's financial metrics and stabilization of the operating environment in the bank's domicile region, Moody's said.

Nonetheless, the agency noted that Gazbank continues to maintain high borrower concentration, which constitutes significant credit risk.

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