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Russia’s ACRA assigned AAA(Ru) rating with stable outlook to Sberbank

March 20, 2017, 21:46 UTC+3 MOSCOW

Sberbank is the largest Russian bank, accounting for 30% of country’s banking assets

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MOSCOW, March 20. /TASS/. The Russian Analytical Credit Rating Agency (ACRA) for the first time assigned AAA(Ru) rating with the "stable" outlook to Sberbank, the largest Russian bank, the rating agency said on Monday. The credit rating of Sberbank is conditioned by its exceptional systemic importance for the domestic economy and the high degree of government influence on the bank, ACRA reports.

"The Bank enjoys high standalone creditworthiness compared to other Russian credit institutions, which is supported by its exceptional market positions, adequate capital position and adequate risk profile. Funding profile and liquidity position are neutral factors for standalone creditworthiness of the Bank," ACRA said.

Very high likelihood of the Bank getting extraordinary government support, a strong business profile, appropriate capital adequacy assessment and risk profile position, and comfortable liquidity position were among the key rating assessment factors, ACRA reported.

Sberbank is the largest Russian bank, accounting for 30% of country’s banking assets. It also has a full-fledged network of subsidiaries, branches and representative offices spread across the CIS, Central and Eastern Europe, Turkey, the UK, and the US. The main shareholder of the Bank is the Bank of Russia, which holds 50% plus one voting share of its charter capital.

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