Press Releases

The Outlook Is Stable — ACRA Affirms Renaissance Credit at BBB(RU)

13 September 2022

Analytical Credit Rating Agency (ACRA) has affirmed the credit rating of Renaissance Credit and its bond issues at BBB(RU) level with a stable outlook.

The affirmation is based on constancy of the Agency's assessment of the Bank’s rating components: capital adequacy, risk profile and positions on funding and liquidity.

The Agency in its press release notes that the Bank's strategy is focused on, among other things, higher diversification of products offered to retail customers and higher fee and commission income. To this end, the Bank has adapted its lending products, taking into account the increased volume of online retail sales. In addition, lending terms are now subject to customer loyalty, including the use of the Bank's commission products. Much attention is paid to the promotion of a mobile application, which may become an important factor in attracting younger customers. The Bank has plans to enter the SME services market using the connections it has developed with partners in the segment of consumer lending to individuals.

«The affirmation of the ACRA's credit rating is a direct consequence of the fact that, despite the turbulent economic environment and difficulties in the banking sector, our efforts to maintain the stability of the Bank were highly appreciated by the Agency's analysts. In the future, we will continue to work on improving financial performance and positions in the Russian banking system,» — commented Evgeniy Mikhalin, Senior Vice President, Financial Director of Renaissance Credit.