On September 10, 2020, Fitch Ratings upgraded the viability rating of Credit Bank of Moscow to 'BB', the bank informed.
The Issuer's viability rating is a key component of the long-term issuer rating that is also affirmed at 'BB', indicating the bank's high standalone creditworthiness.
The higher standalone creditworthiness rating reflects the bank's improved quality of assets due to a reduction in the share of potentially problem loans in the portfolio.
Among other rating components, Fitch analysts noted a comfortable liquidity position and a high return on equity (11%).
Credit Bank of Moscow (PJSC) (CBM, tax number: 7734202860) was established 1992. The bank's ultimate beneficial owner is Rossium Concern's founder Roman Avdeev.