The Expert RA rating agency confirmed the credit rating of Otkritie Bank (part of the VTB Group) at the ruAA level with a stable outlook.
According to the assessment ” Expert RA”, the bank’s rating is due to a strong assessment of market positions, a strong capital position, as well as adequate assessments of asset quality, liquidity reserves, funding profile, level of corporate governance and strategic planning.
In addition , the key positive impact on the rating is the high probability of support from the federal authorities if necessary, which is due to the systemic importance of the bank.
The agency notes high capital adequacy indicators and the size of the capital buffer: N1. 0, H1.1 and H1.2 exceeded 15% as of February 1, 2024. The concentration of the bank's credit risks is considered low: large credit risks to assets less reserves amounted to about 16% as of February 1, 2024.
The rating conclusion highly evaluates the professional experience and reputation of key management personnel of Otkritie Bank, as well as current risk management practices, which systematically converged with the approaches of the parent bank in the period under review.
“Stable outlook” implies a high probability of maintaining the credit rating on the horizon 12 months.
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