...Support Drives Ratings: Rosbank's (RB) ratings are underpinned by the high probability of support that RB may receive from its parent bank, France-based Societe Generale (SG) (A/Stable), if needed. Fitch Ratings views SG's propensity to support RB as high due to its majority ownership, SG's strategic commitment to the Russian market, the high level of operational integration between SG and RB, significant reputational risks for SG in case of RB's default and RB's small size relative to SG. Standalone Profile Is Healthy: RB's Viability Rating (VR) reflects its reasonable capital and liquidity buffers, decent quality of corporate loans, and conservative risk appetite and management. The VR also captures RB's weak pre-impairment performance and RB's significant exposure to retail lending, particularly to unsecured loans of cyclical credit quality. Asset Quality Stabilises: Fitch believes that RB's corporate loan quality is strong, as RB's largest borrowers are the leading Russian corporates....
