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Otkritie Bank reaffirmed high credit rating

Otkritie Bank reaffirmed high credit rating
Photo: pixabay.com
According to the estimates of the Analytical Credit Rating Agency (ACRA), at the end of 2019, Otkritie Bank affirmed its credit rating at AA- (RU). The outlook for the development of the company is assessed as stable.

According to the press service of the bank, not only the bank itself, but also its bonds received a high credit rating. The experts also gave them an AA- (RU) rating. According to the estimates of the Analytical Credit Rating Agency, a credit rating of AA- (RU) reflects the strong influence of the state on creditworthiness, as well as the high systemic significance of Otkritie for the financial sector and the economy of the country as a whole. The bank's creditworthiness is determined by a strong business profile, adequate capital adequacy, a weak risk profile and an adequate funding and liquidity position.

In addition, in 2019, the scale of Otkritie Group's activities increased significantly after the planned full-scale transformation of the bank and other companies of the group, as well as through aggressive business expansion to increase its market share. According to ACRA estimates, Otkritie has a balanced funding profile and a sufficient resource base. In addition, the share of the regulator's funds in the bank's liabilities is minimal - only 0,1%. The concentration on the largest groups of creditors is insignificant: at the end of 2019, one creditor accounted for about 3% of liabilities, and the ten largest groups accounted for about 12%.
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