Director of Paris Office of Standard & Poor’s Pierre Giraud, credit analyst Ana Jelenkovic and senior analyst of Moscow Office of Standard & Poor’s Sergey Voronenko participated at the seminar. Management and employees of Khalq Bank also attended the event.

Pierre Giraud briefed participants about new methodology and possible its impact to the rating of the bank and new method of rating assessment of banks and important of objective assessment, which will help to improve transparency and full information disclosure, as well as attraction of investors. The rating is tool for investors to rate solvency and investment attractiveness of the bank.

New methodology takes into account changing information demand of investment community, including analysis of management of risks and strategic processes. It also takes into account development of corporate management, etc.

The seminar noted that the credit rating has several advantages both for investors and the bank. Investors need rating for simplification of financial analysis procedure. The bank has chance to prove its solvency without disclosing confidential information on its financial structure.

The bank said that Standard and Poor’s studied the activity of the bank and its strategic directions, as well as results in May 2011 and affirmed credit rating of Khalq Bank at the level of B/Stable/B.

The assessment reflects status of Khalq Bank as institute, which executes state programmes in social sector and leader of retail sector as national saving bank. The bank also had good financial figures.

At the end of the seminar, it was indicated that the banking sector play linking role between various business entities. That’s why, the analysis of solvency of the banks and impact of banking sector environment to separate bank is a key.