Main rating drivers are solid funding and capitalization level as well as sound self-funding strategy

Fitch affirmed BB+ rating and positive outlook of Sberbank Europe AG


Mag. Linda Michalech
Corporate Communications Manager

Sberbank Europe AG
Tel.: +43 1 22732 1300
Mobile: +43 664 8891 3662

Fitch affirmed BB+ rating and positive outlook of Sberbank Europe AG

Fitch RatingsThe international rating agency Fitch has today affirmed both, the Long-Term Issuer Default Rating (IDR) at BB+ as well as the Standalone Viability Rating (VR) of Sberbank Europe AG at b+. In addition, Fitch has affirmed the positive outlook of Sberbank Europe AG.

The main rating drivers are a reasonable level of capitalization, solid funding and liquidity position as well as a sound self-funding strategy and strong support from Sberbank of Russia, while the profitability is still to be further improved.

Fitch believes, that downside asset quality risks for the near-term are limited. The credit quality of Sberbank Europe’s largest corporate loans is adequate, as the corporate loans portfolio consists either of leading CEE corporate or Russia-related businesses with a sound credit quality. As Fitch notes, impaired loans within Sberbank Europe’s SME and retail portfolio have been trending down over the recent years, demonstrating an improvement of the underlying credit quality.

The latest Fitch ratings of Sberbank Europe AG

Long-Term IDR: affirmed at 'BB+'; Outlook: Positive

Short-Term IDR: affirmed at 'B'

Standalone Viability Rating: affirmed at 'b+'

Support Rating: affirmed at '3'

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