VTB Bank : Expert RA affirms VTB Capital’s rating at ruAA+

Rating agency Expert RA affirmed VTB Capital's credit rating at ruAA+ with a stable outlook.

The agency gave a positive assessment of VTB Capital's leading positions as an operator in the repo market, placement bookrunner in the debt and equity capital markets, as well as the leading advisor in the M&A space. The fact that the company's income is not solely concentrated on operations with its largest clients, the high diversification level of investments and the sufficiency of own funds were among positive factors that contributed to the affirmation of VTB Capital's rating at ruAA+. The levels of current and "stressed" liquidity had a moderately positive impact on the rating. Additionally, when assessing business risks, Expert RA noted the high level of organization, regulation and risk management practices.

Alexei Yakovitsky, CEO at VTB Capital:

"Expert RA's decision-making process takes into account a wide range of factors, which contribute to the company's financial reliability and stability, and includes daily operations, as well as risk management and the overarching development strategy. Maintaining the rating at such a high level is an ambitious task, and we are pleased that VTB Capital team's continued efforts allow us to maintain the high rating and remain a reliable partner for our clients."