Fitch Solutions, a U.K.-based division of the Fitch Group that provides a range of data, analytical tools and related services, announced that Sberbank, a large credit institution in Russia and CIS selected its credit research and peer analysis tool, which will enable the financial institution to improve its counterparty risk reduction strategy.

Apart from subscribing to Fitch’s credit research on global financial institutions and sovereigns, the bank will also be able to access company’s peer analysis tool now, which helps the users in performing detailed peer analysis of over 100 sovereigns and more than 17,000 public and private banks.

Though the global economic scenario seems to recover and the credit markets are improving, still financial crisis and economic downturn for banks and financial organizations are a vital issue for the 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,” commented Vadim Kulik, director of risk department at Sberbank, Russia, in a press release.

With the help of Global Financial Institutions and Sovereigns package offered by Fitch Solutions, subscribers are able to access full credit rating reports, topical market commentaries, sector research reports and organizational capital and balance sheet data along with e-mail notification as well. Leveraging company’s peer analysis tool, users can run 90 key financial ratios and review historical data of more than 10 years in the past, which might help them in minimizing 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 for Fitch Solutions, London.

In October 2010, Fitch Ratings, a yet another part of the Fitch Group provided statistics in respect of two major wireless operators, Verizon (News - Alert) Wireless and AT&T Wireless along with the implications the results had for the remaining operators.  In its latest biannual wireless report, the research firm suggested that both the telecom companies are strongly positioned to capture additional market share and market growth opportunities in the wake of rapid uptake of advanced data services and introduction of innovative new devices that would help increase revenue.

Raja Singh Chaudhary is a contributing editor for TMCnet. To read more of Raja's articles, please visit his columnist page.

Edited by Jaclyn Allard