In general, despite the announced low share of problem loans, the bank's stability indicators look rather weak amid low liquidity and a high percentage of non-collected interest income. The Bank continues to adhere to a policy of restrained accrual of provisions. Despite the support provided within the framework of the program for improving the financial sector, capitalization indicators remain rather weak. Also, the attractiveness of the bank weakens its merger with Bank CenterCredit JSC which will only strengthen the negative pressure on the bank's financial performance. Given the small number of freely available on the market and low profitability, we maintain our recommendation to Keep the bank's bonds until maturity.
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