Press Releases
ACRA Upgrades Renaissance Credit to BBB (RU), Stable Outlook
20 September 2021
The Analytical Credit Rating Agency (ACRA) has raised the credit rating of Renaissance Credit to BBB (RU) with a Stable outlook.
The upgrade of the rating is due to the improvement of the capital adequacy score from “adequate” to “strong”, while maintaining the rest of the components of the bank's own creditworthiness. According to the agency's stress test, Renaissance Credit will be able to withstand a significant increase in the cost of risk.
“As part of the development strategy adopted by the bank, we are actively continuing the process of business transformation - the digitalization of all products” - expounds Viktor Kasyanov, Senior Vice President for Investment Business and Treasury at Renaissance Credit - this is going to allow for the expansion of the client base, attracting new customers for the bank to serve. Simultaneously, we adhere to a conservative policy in terms of capital management and to a balanced risk model. The bank does not solely sustains stability and positive profit indicators, but is additionally looking for new vectors for business development ”.