Monday, Fitch Ratings lowered the outlook on five regional banks in Russia to negative from stable, reflecting deterioration in asset quality and a moderate loss in absorption capacity. Moreover, the Issuer Default Rating of these five banks along with six others was confirmed.

The five banks whose outlooks were lowered were the Chelindbank (CB), Primsotsbank (PSB), SKB-Bank, Spurt Bank and Uraltransbank (UTB).

In the meantime, Fitch gave a stable outlook to Bank Rossiya (BR), Petersburg Social Commercial Bank (PSCB) and Sarovbusinessbank (SBB), while it gave a negative outlook for Bank Snezhinskiy, BTA-Kazan and International Bank of Saint Petersburg (IBSP).

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