Analytical Credit Rating Agency on November 23, 2022 assigned Bank Round LLC credit rating BB(RU), forecast "developing". This is stated in the agency's message.
The credit rating of the Limited Liability Company "Bank Round" at the BB(RU) level reflects the bank's adequate positions on capital, funding and liquidity with a satisfactory risk profile and a moderately low assessment of the business profile. In its analysis, ACRA proceeds from the expectation that in the next 12-18 months the bank will continue to strive to maintain the current business model with a predominance of the payment segment, servicing settlement transactions of customers and operations in the e-commerce segment, while maintaining comfortable liquidity and capitalization indicators. Historically, close cooperation with key partners will be an important foundation for maintaining the current model and subsequent business development.
The "developing" outlook on the credit rating reflects ACRA's opinion that the sustainability of the favorable transformations of the Round Bank's business observed this year (including the structure and volume of its revenues and balance sheet) after changes in the operating environment in February–March may be influenced by unforeseen factors on the horizon of 12-18 months. The "developing" forecast is also determined by the noticeable volume of requirements for counterparties engaged in depository activities and issuing Eurobonds and who are under pressure due to sanctions. However, ACRA believes that if the strategy is successfully implemented while maintaining the current high profitability, these risks are quite manageable.
