Fitch Ratings

On September 1, 2021, Fitch Ratings affirmed PJSC Sovcombank's Long-Term Issuer Default Ratings (IDRs) at "BB+" with "Stable" outlook. The affirmation of the ratings reflects strong financial profile, as expressed by its sound profitability, consistently low impaired loan ratios, and reasonable funding and liquidity profile.

Long-term issuer default ratings
Viability rating

S&P Ratings

On October 13, 2021, the international rating agency S&P Global Ratings upgraded Sovcombank's stand-alone credit profile (SACP) to "bb" and affirmed its long- and short-term issuer credit ratings at "BB/B" with "Positive" outlook. The positive action reflects that the bank's stand-alone creditworthiness has improved owing to a more stable economy. The agency expects Sovcombank to expand its lending activities faster than most its peers and believes, that this growth is well managed. The "Positive" outlook indicates, that the bank can strengthen its business position and outperform peers in the "BB" category.

Credit ratings
SACP Score

Moody's Ratings

On November 10, 2020, the international rating agency Moody's upgraded Sovcombank PJSC long-term local- and foreign-currency deposit ratings to "Ba1" with "Stable" outlook. The upgrade follows the CBR's announcement that it formally designated Sovcombank as a systemically important financial institution. The rating also reflects the bank's good loss-absorption capacity and sound asset-quality indicators, supported by good portfolio diversification and sizable exposure to high quality bonds, and good liquidity.

Long-term deposit ratings
Baseline credit assessment


On April 19, 2021 The Analytical Credit Rating Agency (ACRA) upgraded the credit rating of Sovcombank to "AA-(RU)" and changed the outlook to "Stable". The credit rating has been upgraded due to a change in the assessment of the Bank’s systemic importance as part of the financial system of the Russian Federation. In addition, the Agency expects the merger with PJSC "Orient Express Bank" to result in the total volume of Sovcombank’s liabilities approaching RUB 600 bln and the Bank strengthening its presence in a number of Russian regions. The Bank’s rating is based on strong capital position, and adequate assessment of the business profile, risk profile, funding and liquidity.

Credit rating
Standalone creditworthiness assessment
Systemic importance

Expert RA

On February 11, 2021, Expert Rating Agency upgraded Sovcombank's credit rating by 2 notches from "ruА+" level to "ruАA" with "Stable" outlook. The rating upgrade reflects the increase of potential financial and administrative support from the authorities due to the inclusion of Sovcombank in the list of systemically important financial institutions (SIFI). The bank's rating is based on its strong market position, high quality of corporate governance and business profitability, comfortable liquidity position, adequate asset quality and capital buffers.

Credit rating


On December 28, 2021, the National Credit Ratings agency ("NCR") affirmed the credit rating of Sovcombank PJSC at "AA -" and changed an outlook to "Positive". According to analysts, the Bank's strong market position is combined with increasing business diversification, and an adequate capital buffer is supported by consistently high profitability and low risk appetite. Sovcombank's business grew faster than the market in 2021 and this growth is partially explained by M&A activity. The Agency believes that this year's acquisitions will strengthen Sovcombank's retail portfolio, as well as insurance and factoring businesses.

Credit rating
Baseline creditworthiness assessment
Extraordinary support