On May 13, 2021, Russia's Analytical Credit Rating Agency (ACRA) affirmed the credit rating of SEB Bank JSC at ‘AAA’(RU) with a stable outlook, the rating agency informed.
The credit rating assigned to SEB Bank JSC (hereinafter, the Bank) is based on the very high likelihood of extraordinary support from the parent company, which has high creditworthiness. The Bank's standalone creditworthiness assessment (SCA) is moderately high, in view of its strong capital adequacy, adequate risk profile, adequate liquidity and funding, and medium business profile.
The Bank is a credit institution ranking 89th in terms of assets and 111th in terms of capital among Russian banks as of March 1, 2021. The Bank is wholly owned by SEB AB (hereinafter, the Supporting Organization, or the SO), the parent company of SEB Group (hereinafter, the Group), which is one of the largest financial groups in Europe. The Group's operations are concentrated on Sweden and other Nordic countries as well as the Baltic countries. The Bank offers comprehensive services and lending to Russian subsidiaries of clients of the Group, whose parent companies are located in Sweden, Finland, Norway, Germany and other Western European countries. The Bank also operates in the interbank and foreign exchange markets.
