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MKB received AA-|ru| credit rating from NRA

01.11.2021

On 1 November 2021, NRA rating agency assigned a AA-|ru| credit rating to CREDIT BANK OF MOSCOW (MKB), stable outlook.

The assigned credit rating reflects the bank’s leading positions in the financial sector and its universal business model as well as the active development of all business areas. The agency also noted the bank’s leadership in integrating ESG principles into its business, which demonstrates a high level of MKB’s corporate governance and an ambition for its improvement.

The agency’s analysts appreciate the high quality of the bank's assets: its NPL ratio was as low as 2.5% under IFRS as at 01.07.2021, with problem debt being fully covered by provisions and adequate collateral.

The rating-positive factors also include adequate profitability with ROE under RAS in 1H 2021 of 12.5% (annualised), which supports a comfortable level of capital. Other rating-positive factors mentioned by the agency are a stable resource base and a large customer base, which also includes systemically important enterprises and companies from key sectors of the economy.