Fitch Ratings

On September 10, 2020, Fitch Ratings revised PJSC Sovcombank's outlook to "Stable" from "Negative", while affirming the bank's Long-Term Issuer Default Ratings (IDRs) at "BB+". The outlook revision reflects reduced pressure on SCB's credit profile from the pandemic, lower oil prices and the resulting economic contraction in Russia. The ratings of SCB are driven by its intrinsic credit strength and continue to capture a record of strong performance and resilient asset quality to date, as well as a reasonable funding and liquidity profile.

Long-term issuer default ratings
Viability rating

S&P Ratings

On January 15, 2021, the international rating agency S&P Global Ratings revised its outlook on Sovcombank PJSC to "Positive" from "Stable"and affirmed "BB/B" long- and short-term issuer credit ratings on the bank. The agency expects, that Sovcombank can sustain an earnings buffer that is stronger than the Russian average in 2021-2022 and it will be supported by rapidly expanding buy-now-pay-later (BNPL) card business, strengthening the Bank's business position and profitability. The S&P believes, that the bank's performance was strong throughout 2020, despite pandemic-related stress, and was broadly comparable with that of higher-rated peers.

Credit ratings
SACP Score
Support for systemic value

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, 2020, the National Credit Ratings agency ("NCR") affirmed the credit rating of Sovcombank PJSC at "AA -" with a "Stable" outlook. According to analysts, the Bank's strong market position is determined by the scale of its business, since the Sovcombank's business grew significantly faster than the market in 2020: for the 9 months, the volume of assets increased by 38% according to IFRS. The Agency positively assesses the current business model of the Bank, as well as the successful experience of integration of the acquired credit institutions.

Credit rating
Baseline creditworthiness assessment
Extraordinary support