NKR raises Sovcombank's credit rating

The National Credit Ratings Rating Agency (NCR) has upgraded the credit rating of Sovcombank PJSC from AA-.ru before AA.ru with a stable outlook, the bank said.

The rating upgrade confirms the bank's strong business franchise, steady and profitable growth over the past decades, the press service of Sovcombank emphasized. The NCR assessment also indicates the successful adaptation of the bank's business model to current market conditions.

The rating agency noted the high quality of corporate governance and the effective strategy of organic and inorganic development of the bank, confirmed by the successful integration of acquired assets and the strengthening of market positions after the acquisition of HCF Bank LLC.