ACRA confirmed the credit rating of S.B.I. Bank

AK&M 23 June 2022 18:03

Analytical credit rating Agency on June 23, 2022 confirmed the credit rating of S.B.I. Bank LLC at the BBB(RU) level, the status of "rating under review — developing". This is stated in the agency's message.      

The credit rating of S.B.I. Bank LLC is due to the high probability of receiving extraordinary support from the parent structure, which has a moderately high level of creditworthiness. The assessment of the bank's own creditworthiness remains at the same level of "bb-" due to the preservation of a moderately low business profile and an adequate position on funding and liquidity, while the capital position has deteriorated, and the assessment of the risk profile has improved to satisfactory.

The assignment of the status "Rating under review — developing" is associated with the introduction by the Japanese Government of certain restrictions in the field of investment activities of Japanese companies in the territory of the Russian Federation, which creates uncertainty about the impact of possible barriers and restrictions on the ability to provide extraordinary support from the supporting person and necessitates an additional analysis of the consequences of these restrictions on the creditworthiness of the Bank.

S.B.I. Bank is a subsidiary of a foreign credit institution, one of the top 150 largest banks. The main activities are corporate lending and the issuance of guarantees, while the bulk of the resource base is formed from customer funds.