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Sberbank gets top-notch credit rating from Russian rating agency

Sberbank has the highest level of its own credit quality among Russian banks, according to National Credit Ratings agency

MOSCOW, October 19. /TASS/. Russia’s National Credit Ratings (NCR) agency assigned the top credit rating of AAA.ru with a stable outlook to Sber, the bank said in its press release.

This is the second national credit of Sberbank. The bank has been assigned earlier the highest AAA (RU) rating from the ACRA rating agency.

"Sber’s another top credit rating has once again confirmed our leading positions in the market. NCR’s rating also allows us to fully comply with the Russian Government’s Resolution that requires banks listed for placing the funds of state-owned corporations and companies, the federal budget, and the Deposit Insurance Agency to have at least two credit ratings at a certain level according to the national rating scale," Vice President Taras Skvortsov said in a comment.

Sberbank has the highest level of its own credit quality among Russian banks, according to NCR. The strong brand, the mature infrastructure, and a significantly lower cost of funding compared to other credit institutions further strengthen Sberbank’s position in the Russian market.