On July 31, 2020, Russia's Analytical Credit Rating Agency (ACRA) affirmed the credit rating of Credit Agricole CIB AO at ‘ААА’(RU), with a stable outlook, the rating agency informed.
The credit rating of Credit Agricole CIB AO (hereinafter, the Bank) is based on the high likelihood of strong support from its main shareholder Credit Agricole CIB. The Bank’s standalone creditworthiness assessment (SCA) is high, which is supported by its adequate business profile, substantial capital buffer, adequate risk profile, and adequate funding and liquidity.
The Bank provides integrated banking services (lending, guarantees and letters of credit, trade finance, treasury) to large Russian companies and multinational corporations operating in Russia. As of end-June 2020, the Bank ranked 71st in terms of equity and 84th in terms of assets in the Russian market.
The Bank is wholly owned, directly or indirectly (through Credit Agricole CIB Global Banking), by Credit Agricole CIB, a subsidiary of Credit Agricole S.A., a diversified banking holding, whose assets are located in the EU (predominantly France and Italy) the UK, the US, Asia-Pacific (including Japan), and other countries.
