NRA has affirmed Credit Bank of Moscow rating at AA-|ru|, stable outlook
18.10.2024
On October 18th, 2024, National Rating Agency (hereinafter referred as “NRA“ or “the agency“) affirmed its credit rating on Credit Bank of Moscow (hereinafter referred as “MKB” or “the Bank”) at “AA-|ru|” with a “Stable” outlook.
The rating reflects NRA view, that the Bank has strong market position and high-quality client base from leading sectors of the economy.
The rating analysts highlight MKB’s assets quality to be above the average. Thus, the share of non-performing loans (NPL 90+) is insignificant and amounted to 1.2% according to IFRS as of June 30th, 2024, at the same time problem loans are fully covered by reserves or sufficient collateral. The securities portfolio is represented by issuers with high credit quality.
In addition to that, the agency notes a stable resource base (7.8% year-to-year) and improved funding sources diversification due to attracting new clients and expanding services to systemically important enterprises.
Full release is available at
https://www.ra-national.ru/press_release/moskovskij-kreditnyj-bank/39268/