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Russian Analytical Credit Rating Agency (ACRA) confirms ААА(RU) to Nordea Bank Russia, outlook Stable.
The current rating affirms a high creditworthiness level of the Bank, strong capital adequacy, and adequate liquidity and funding position. The rating enables the Bank to work with money of any Russian institution including stately-owned ones.
This time ACRA assigned better scores to the Bank’s risk profile and highlighted good quality of the loans accommodated. The Bank’s NPL90+ is no more than 0.6% of the total loan portfolio, while the share of loans regarded by the Agency as potentially problem is not more than 5%.
Mikhail Polyakov, the Bank’s CEO comments: “The ACRA high assessment once again confirms that Nordea Bank is a safe and reliable bank pursuing the right strategy. We historically stick to prudential lending policies and are very thorough in selecting our partners and borrowers. Given the current economic environment it is especially important for us to retain trust in the market in order to stay stable and profitable corporate and investment bank. Our focus is efficient capital utilization, higher quality of the loan book and better risk control rather than sales”.