The credit rating of Limited liability company “bank Round” (hereinafter, the Bank) has been upgraded as the business profile assessment has been improved from moderately low to limited. At the same time, the Agency has maintained the strong capital adequacy assessment, satisfactory risk profile assessment, and the adequate funding and liquidity assessment.
The Bank is a small, in terms of assets, universal bank that operates in Moscow and is focused on corporate customers.
key assessment factors
The business profile assessment has improved to limited (bb) to reflect the Bank’s stronger market positions compared to peers. The Bank’s current business model is based on a tight cooperation with key partners that were previously linked to the Bank via its previous large-scale owners that have well-known brands. Under this cooperation, the Bank continues to offer its services (cash and settlement services, servicing / conducting payments, acquiring, and foreign currency transactions) and loans to partners and their clients, counterparties, and employees. Over the recent years, the Bank has been actively expanding the diversification of its operations, including digital financial assets. This trend is expected to continue in the future.
The strong capital adequacy assessment takes into account comfortable capital adequacy metrics (N1.2 at 19.45% as of September 1, 2025) and the Bank’s high capacity to generate capital. The averaged capital generation ratio (ACGR) for 2020–2024, including dividend payments and ACRA’s adjustments, amounted to 350 bps. The Agency expects this ratio to grow further as the trend of stable generation of positive financial results is continuing this year: in H1 2025, according to RAS reports, the Bank’s after-tax profit amounted to RUB 1,101 mln. The operating efficiency indicators do not affect the capital adequacy much: the 3-year average CTI and NIM calculated by ACRA are comparable with those of peers. Stress test conducted in line with ACRA’s methodology showed that the Bank is able to withstand an over 500 bps increase in the cost of risk without violating the key capital adequacy standards.
The satisfactory risk profile assessment reflects the Agency’s opinion on the quality of the Bank’s assets. The share of the loan portfolio in the total volume of assets remains at the level of the past year, with a low level of non-performing and potentially non-performing loans. The main volume of the Bank’s assets are short-term deposits with the Bank of Russia, as well as assets held in other financial institutions. ACRA notes receivables from companies related to depository activities and the issuance of Eurobonds, where credit risk management is challenging due to the current sanctions regime. The risk profile assessment is also constrained by heightened exposure to market risk due to the large volume of the Bank’s own securities portfolio.
Adequate funding and liquidity assessment. The Bank efficiently manages the maturities of assets and liabilities and has a comfortable liquidity cushion to maintain positive cumulative gaps at various time intervals.
High concentration on related groups of depositors is offset by the well-established relationships with these counterparties. In ACRA’s opinion, they will continue to be a reliable source of funding for the Bank.
key assumptions
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Maintaining the current business model.
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Maintaining the profitability of operations.
potential outlook or rating change factors
The Stable outlook assumes that the rating is highly likely to stay unchanged within the 12 to 18-month horizon.
A positive rating action may be prompted by:
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Significant improvement of asset quality;
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Better market positions of the Bank on a wider range of business lines and further development of cooperation with the key partners, along with the adequate level of risk on active transactions.
A negative rating action may be prompted by:
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Considerable decline of business stability or loss of competitive advantages, in particular, due to reduced cooperation with key partners;
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Substantial decline of asset quality, including growth of credit risks amid an expansion of the loan portfolio and/or guarantees.
rating components
Standalone creditworthiness assessment (SCA): bbb-.
Individual adjustments: none.
Support: none.
issue ratings
No outstanding issues have been rated.
regulatory DISCLOSURE
The credit rating has been assigned to Limited liability company “bank Round” based on the following methodologies: the Methodology for Credit Ratings Assignment to Banks and Bank Groups under the National Scale for the Russian Federation to calculate the SCA and determine the credit rating and the credit rating outlook of Limited liability company “bank Round” under the national scale for the Russian Federation and the Key Concepts Used by the Analytical Credit Rating Agency within the Scope of Its Rating Activities to ensure consistent and uniform application of ACRA’s methodologies, models, and key rating assumptions.
The credit rating of Limited liability company “bank Round” was published by ACRA for the first time on November 23, 2022. The credit rating and its outlook are expected to be revised within one year.
The credit rating was assigned based on data provided by Limited liability company “bank Round”, information from publicly available sources, and ACRA’s own databases. The rating analysis was performed using the IFRS accounting (financial) statements of Limited liability company “bank Round” as of June 30, 2025 and the financial statements of Limited liability company “bank Round” drawn up in compliance with the Bank of Russia’s requirements. The credit rating is solicited and Limited liability company “bank Round” participated in its assignment.
In assigning the credit rating, ACRA used only information, the quality and reliability of which were, in ACRA’s opinion, appropriate and sufficient to apply the methodologies.
ACRA provided no additional services to Limited liability company “bank Round” within the year preceding the rating action.
No conflicts of interest were discovered in the course of credit rating assignment.
