Fitch Solutions, a division of the Fitch Group, is pleased to announce that Sberbank, the largest credit institution in Russia and CIS, has chosen Fitch's credit research and peer analysis tool to help enhance its existing counterparty risk reduction strategy.
Sberbank will subscribe to Fitch's credit research on global financial institutions and sovereigns, as well as have access to its peer analysis tool - which allows users to perform detailed peer analysis of more than 100 sovereigns and over 17,000 public and private banks.
Despite tentative signs of global economic recovery and improving credit markets, bank and sovereign exposure to the financial crisis and economic downturn remains a key issue for risk managers.
"Sberbank is committed to improving its credit and counterparty risk assessment system and Fitch has a strong track record in this field. We believe the addition of Fitch's credit research and peer analysis tool will help us make more informed risk management decisions," said Vadim Kulik, Director of Risk Department, Sberbank, Russia.
Fitch Solutions' innovative Global Financial Institutions and Sovereigns package provides subscribers with access to: full credit rating reports, topical market commentaries, sector research reports, organisational capital and balance sheet data, and customizable portfolios with email notification. The peer analysis tool enables users to run 90 key financial ratios and review over 10 years of historical data in order to minimise their potential levels of risk exposure.
"As the largest bank in the Russia CIS region, today's announcement further underlines Fitch Solutions' position as a leading market data vendor," said Thomas Aubrey, Managing Director, Fitch Solutions, London.