Ratings

The Bank’s ratings have been assigned by Moody’s Investors Service Ltd. (the “Agency”). On 17 October 2019 The Agency made an update of the Bank’s assessment as a result of which it maintained the long-term deposit rating of the Bank at Baa1 while changing the outlook from stable to positive. The short-term deposit rating was maintained at Prime-2.

Due to the improvement of the Bank’s financial standing after the acquisition of the Core Business of Raiffeisen Bank Polska S.A., the basic BCA (Baseline Credit Assessment) was raised from ba2 to ba1. The Adjusted Baseline Credit Assessment and Counterparty Risk Assessments were maintained at their current levels (baa3 and A3(cr)/Prime-2(cr) respectively).

A good assessment of the Bank’s financial standing results from:

improving profitability and operations efficiency,
moderate level of credit risk and strengthening of the equity situation,

financing assets with funds from the outside of the interbank market,
the adequate level of liquid assets.

The macroeconomic situation in Poland has a positive impact on the Bank’s current and projected assessment.

XLS

Moody’s Investors Service	Rating
Long-term deposit ratings (LT Bank Deposits)	Baa1
Short-term deposit ratings (ST Bank Deposits)	Prime-2
Individual assessment (Baseline Credit Assessment, BCA)	ba1
Adjusted individual assessment (Adjusted Baseline Credit Assessment, Adjusted BCA)	Baa3
Counterparty risk assessment in long-term / short-term (Counterparty Risk assessments, CRa)	A3(cr)/Prime-2(cr)
Perspective	positive

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