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Otkritie Bank reaffirmed high credit rating

Otkritie Bank reaffirmed high credit rating
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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