New S&P Rating for RCB Bank following the new Shareholding Structure

In an expected move, S&P Global Ratings has noted the new shareholding structure of RCB Bank following the management buyout of VTB’s stake in its share capital, and has amended its rating from BB- to a B+. This downgrade by one notch is based on the fact that RCB Bank is now further enhancing its business strategy to adapt to the new environment and is significantly strengthening its franchise.

The rating takes note of the Bank’s strong capital base and high level of liquidity. Taking the opportunity, RCB Bank reiterates that its new business strategy has been focusing on Europe and that is the direction it will continue to follow.