Fitch acknowledged the bank’s asset quality, reduced concentration risks and its sound liquidity and funding profile

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Fitch affirms Sberbank Europe rating at 'BBB-'; Outlook Stable

The international rating agency Fitch has confirmed Sberbank Europe’s Long Term Issuer Rating at 'BBB-' with a Stable Outlook. The Viability Rating was also confirmed at 'bb-'.

Fitch explained in its released statement that despite the economic recession triggered by the coronavirus pandemic and a small reported net loss in 2020, Sberbank Europe has shown resilience, holding up its asset quality remarkably well in 2020. In addition, Fitch has acknowledged the bank’s reduced concentration risks and its sound liquidity and funding profile.

Sonja Sarközi, CEO of Sberbank Europe, comments: "The latest rating underlines the quality of our loan portfolio and confirms that with our solid business model we have set the right course for the future.” 

The latest Fitch ratings of Sberbank Europe: 
Long-Term IDR: affirmed at 'BBB-'; Outlook: Stable
Short-Term IDR: affirmed at ‘F3’ 
Viability Rating: affirmed at 'bb-' 
Support Rating: affirmed at ‘2’ 

About Sberbank Europe Group

Sberbank Europe (Sberbank Europe AG), headquartered in Vienna, Austria, is a banking group 100% owned by Sberbank of Russia, which is the largest Russian bank. Sberbank Europe Group is present in eight markets in Central and Eastern Europe: Austria, Bosnia and Herzegovina, Croatia, Czech Republic, Germany, Hungary, Slovenia and Serbia. Sberbank Europe Group has around 800,000 customers, operates 187 branches, and counts over 3,900 employees across Europe. 
The total assets of Sberbank Europe amount to EUR 13 billion (as of 31 December 2020). 

Website: www.sberbank.at

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