ACRA confirmed the rating of Volkswagen Bank RUS

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AK&M 26 January 2022 17:44

On January 26, 2022, the analytical credit rating agency confirmed the credit rating of Volkswagen Bank RUS LLC at the AAA(RU) level, the forecast is stable, and its bonds are at the AAA(RU) level. This is stated in the agency's message.

The credit rating of Volkswagen Bank RUS LLC is due to the very high probability of receiving extraordinary support from the parent structure, Volkswagen AG Group, which has a high level of creditworthiness. The assessment of the bank's own creditworthiness is high due to a strong position on capital adequacy, a strong assessment of the risk profile, an adequate position on liquidity and funding, as well as a satisfactory assessment of the business profile.

Volkswagen Bank as of 01.12.2021 ranked 103rd in terms of assets and 62nd in terms of equity among Russian banks. The shareholders of the Bank are Volkswagen Financial Services AG (99%) and Volkswagen Bank GmbH (1%).

The Bank specializes in providing retail loans for the purchase (through authorized dealerships) of cars from the portfolio of Volkswagen Group brands in the territory of the Russian Federation. The Bank does not have a license to attract funds from individuals.