MTBank’s Belarus National Scale Credit Rating Raised to ‘byBBB’; Outlook Revised to ‘Stable

Expert RA has raised its Belarus national scale credit rating on Joint-stock company "MTBank" to ‘byBBB’ and changed the rating outlook to ‘stable’. Mapped to the Russia national scale from the Belarus national scale using the country riskadjustment, the credit rating is unchanged at ‘ruB’, although the outlook changes to ‘stable’. Previously, the bank had a Belarus national scale credit rating of ‘byBBB-’ with ‘developing’ implications and a Russia national scale credit rating of ‘ruB’ with ‘developing’ implications.

The upgrade of MTBank’s Belarus national scale credit rating and the outlook revision are due to the strengthening of the bank’s capital base as a result of a strong equity generation, and the completion of all phases of the merging of ZAO (Closed Joint-Stock Company) Idea Bank and MTBank. The rating reflects the bank’s fair market position and capital adequacy alongside its strong profitability, adequate asset quality, and comfortable liquidity position, as well as our assessment of its corporate governance and strategic planning practices as fair.

Please refer to: https://www.raexpert.ru/releases/2022/sep30 for detailed info.