Press Releases

Standard & Poor's Confirmed Renaissance Credit Rating at B+ Level 

28 January 2022

The international rating agency Standard & Poor’s (S&P Global Ratings) confirmed credit rating of Renaissance Credit (the "Bank" or the "Company") at the B+ level with positive outlook.

S&P opinion is based on further adaptation of the Bank to a digital business model with a focus on more creditworthy clients. The Bank also maintains strong capitalization with a risk adjusted capital ratio (RAC) of above 10% and stable asset quality. “These factors could be a prerequisite for an upgrade,” noted in S&P press release. “A positive rating action could follow if Renaissance Credit successfully implements its strategy and moves toward digital channels, the settlement business, and customers with stronger creditworthiness.”

“Further extension and improvement of our remote services is one of the key targets of Renaissance Credit for 2022. It will allow our customers to manage their funds and purchase banking products from all over the world using mobile application on their smartphones. Digitailization of products and processes is a key element of our short-term strategy. We believe that it will have a positive effect on our financials as well as our credit rating going forward,” commented Viktor Kasyanov, Senior Vice President for Development of Banking Products at Renaissance Credit.