Vozrozhdenie Bank received ACRA rating

29 May 2018

Analytical Credit Rating Agency (ACRA) assigned credit rating ВВ+(RU) to Vozrozhdenie Bank, with status „Rating under revision: developing”.

„The rating assigned to the Bank by ACRA is based, first of all, on operating results, not on formal criteria. The rating relies on the 2017 statements and we many of the performance indicators assessed by the Agency as weak points have improved this year,” — commented Mark Nakhmanovich, Chairman of the Management Board. „I am sure that the management’s efforts to restore all process and preserve historical business model as well as the assignment of rating from such a reputable agency as ACRA will be a pivot point for the restoration of Bank’s ratings by other agencies.”

The rating agency assesses Bank’s liquidity and funding as adequate. On the 90-day horizon, Vozrozhdenie Bank possesses a surplus of short-term liquidity in the base case scenario. As for longer periods, the Agency does not observe any significant liquidity imbalance.

The status reflects ACRA’s opinion concerning development prospects and a possible change in own Bank’s credit assessment as well as its credit rating in short term up to 90 days.

The business profile assessment is determined by the Bank’s market positions and high diversification of operating income. It also takes into account the expected changes in the ownership structure, which in ACRA’s opinion will likely lead to a change in the assessment of management quality and strategy factors.

Moody’s Investors Service places Vozrozhdenie Bank’s deposit ratings on review for upgrade
Vozrozhdenie Bank earned RUB 640 million of net profit under IFRS in 3M 2018