Russia’s biggest private bank gains top credit score
(MENAFN) Russia’s largest private bank, Alfa-Bank, has been upgraded to a AAA credit rating by Chinese agency Lianhe Global, the bank announced Friday. The rating reflects the highest level of creditworthiness, indicating minimal default risk and a strong ability to meet financial obligations.
“Analysts conducted a thorough evaluation and gave high marks to our key indicators, including systemic importance to the economy, asset quality, transparent governance, and clear development strategy,” said Alfa-Bank CEO Vladimir Verkhoshinskiy. He added that the top rating is a strategic asset for expanding the bank’s international presence.
In 2024, Alfa-Bank became the first Russian lender to receive a Chinese credit rating (AA-) after opening branches in Beijing and Shanghai. That year, it also launched a Chinese-language website and customer support for businesses in the country.
The upgrade reflects strengthening economic ties between Moscow and Beijing, accelerated by growing tensions between Russia and Western nations over the Ukraine conflict and repeated sanctions. Major US-based rating agencies—Moody’s, S&P, and Fitch—halted operations in Russia in 2022 due to sanctions pressure.
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