ACRA upgrades CREDIT BANK OF MOSCOW’s credit rating to А(RU), stable outlook
19 February 2018 — Analytical Credit Rating Agency (the «Agency») upgraded CREDIT BANK OF MOSCOW’s (the «Bank») national scale credit rating to А(RU), stable outlook. The Bank’s rating was upgraded mainly to reflect its increased systemic importance upon its inclusion in the CBR’s official list of systemically important credit institutions, while standalone creditworthiness assessment was retained at ‘bbb+’, which is a sign of stable risk profile, capital adequacy and funding indicators. Positive rating assessment factors noted by the Agency include positive trends in some indicators: stable funding base, strengthened capital position and enduring profitability. ACRA also appreciated the Bank’s liquidity management quality and the absence of maturity mismatches.
Vladimir Chubar, Chairman of the Management Board, commented: «ACRA’s positive rating action reflected the Bank’s right strategic choices, stability, reliability, and ability to respond to changing circumstances promptly and effectively. Since summer 2017, the Russian banking sector was under pressure caused by certain factors but the Bank successfully went through the instability period, maintained and further strengthened its market positions».