Sovcombank Leasing for the first time received a credit rating of Expert RA, the level of giAA-

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Sovcombank 25 November 2021 20:26

Expert RA rating agency assigned Sovcombank Leasing a credit rating at the level of "GIAA-", setting the forecast "stable". The rating was assigned to Sovcombank Leasing for the first time and is long-term.

The Agency's message says that the high level of the rating is due to the company's adequate market positions, high capital adequacy and operational efficiency, moderately high quality of the leasing portfolio, a comfortable liquid position and an adequate level of corporate governance. It was also noted that financial and administrative support from the owner has a strong positive impact on the rating (100% of the shares of Sovcombank Leasing are controlled by Sovcombank PJSC).

"Sovcombank Leasing is increasing synergy with the business lines of the parent bank, continues to expand the branch network and scale the business. We are improving the product line, launching new services and services for entrepreneurs. All this combined has caused sales growth, moving up in the rankings and, accordingly, the Agency's high rating," said Nikolay Sevastyanov, General Director of Sovcombank Leasing LLC.

Sovcombank acquired 50% of Sovcombank Leasing in 2010, consolidating its stake to 100% in December 2019. According to the results of 2020, Sovcombank Leasing entered the top 30 of the rating of the largest leasing companies in the Russian Federation. In 2021, the volume of the company's new business grew almost 3 times compared to the same period last year. This allowed the company to rise to 17th place in the Expert RA rating in terms of the volume of new business.

Sovcombank PJSC is a universal bank, one of the top 10 largest banks in the country (assets: 1.9 trillion rubles according to IFRS). The bank employs 24.5 thousand employees in 2,942 offices located in 1,037 localities in 77 constituent entities of the Russian Federation. The Bank serves 11.9 million customers: 11.1 million borrowers, 0.6 million depositors and 0.2 million legal entities. The Bank's credit ratings on an international scale: S&P - "BB", the forecast is "positive", Moody's - "Ba1", the forecast is "stable", Fitch - "BB+", the forecast is "stable". The Bank's credit ratings on the national scale: ACRA - "AA-", forecast "stable", "Expert RA" - "GIAA", forecast "stable", "NKR" - "AA-", forecast "stable".

 


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