Fitch confirms Rosbank's credit rating

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AK&M 25 November 2021 18:04

The international rating agency Fitch has confirmed Rosbank's highest credit rating for the Russian market at BBB with a stable outlook. This is stated in the bank's message.

Rosbank's long-term issuer default rating (IDR) remained at BBB, while the issuer's short-term default rating remained at F2. The bank's sustainability rating remained unchanged at bbb-.

Rosbank's credit rating is due to the high probability of providing support from the parent bank - Societe Generale S.Am ("SG", "A-"/Stable outlook), as well as a high level of operational and managerial integration, the strengthening of the strategic importance of the Russian market for the parent company. Rosbank also, according to the agency's statement, has a strong liquidity position, conservative risk assessment, good asset quality, strong management quality, stable and diversified corporate client base.

PJSC Rosbank (TIN 7744001497) was founded in 1993, is one of the thirty largest Russian banks, is a universal commercial bank providing a full range of banking services to both legal entities and individuals. The majority shareholder of the bank is the French banking group Societe Generale.