S&P has affirmed CBM's rating at 'BB-'

24.07.2020

S&P Global Ratings (S&P) affirmed Credit Bank of Moscow’s (CBM) BB- long term issuer credit rating with a stable outlook. Its short-term rating is also affirmed at ‘В’.

"Ratings reflect the bank's ability to raise money via the capital markets, supporting its funding stability and diversification, – notes the agency. – The Bank accumulated sufficient capital and liquidity buffers".

S&P analysts noted that CBM has adequate capital buffers: as of 1 June 2020, its regulatory capital adequacy ratio (N1.0) was 18.5%, well above the minimum required level of 11.5%. The assessment of the bank's performance also reflects strong brand recognition and established franchise, especially in Moscow and the Moscow Region.

The stable outlook reflects the agency’s view that, in the next 12-18 months, CBM will be able to withstand the challenging operating environment while maintaining adequate capitalisation, with asset-quality metrics remaining at a good level.