ACRA affirms A(RU) to Bank Saint Petersburg, changes outlook to Positive

On June 18, 2021 rating agency ACRA (JSC) affirmed to Bank Saint Petersburg credit rating A(RU) and changed outlook to Positive from Stable.

ACRA comments:

The affirmation of the credit rating of «Bank «Saint-Petersburg» PJSC reflects the concurrent changes in the capital adequacy assessment from 'adequate' to 'strong' and the funding and liquidity assessment from 'adequate' to 'satisfactory'; the risk profile assessment remains 'satisfactory'.

The change in the credit rating outlook from Stable to Positive reflects ACRA's opinion on the possible improvement in the risk profile over the 12-18 month horizon in the event of a significant improvements in loan quality indicators and/or a further decrease in the concentration on the relatively risky construction and real estate segment.

The respective press release is available at https://www.acra-ratings.com/press-releases/2581