Important News

ACRA Affirms the Credit Rating of Renaissance Credit with Positive Outlook

23 September 2020

Analytical Credit Rating Agency (ACRA) has affirmed the credit rating of Renaissance Credit bank at ВВВ-(RU) with positive outlook.

The credit rating is based on the Bank’s moderate business profile with adequate capital adequacy, funding and liquidity position. The agency also points out that "the Positive outlook is based on ACRA’s expectation that the Bank’s rating factors will improve after the COVID-19 crisis." The Bank’s business profile reflects its medium position in the Russian banking sector. As of August 1, 2020, Renaissance Credit ranked 35th in capital and 46th in assets among the Russian banks.

Comment by Evgeniy Mikhalin, Senior Vice President, Financial Director of Renaissance Credit: "Rating affirmation from ACRA is an important milestone in the work implemented by the bank. We plan to continue the organic development of our business, improvement of our financial indicators, maintaining focus on reduction of credit risks and provision of high-quality customer service."