ANORBANK Statement Regarding the Change in Credit Rating

ANORBANK Statement Regarding the Change in Credit Rating

ANORBANK Statement Regarding the Change in Credit Rating

ANORBANK takes note of the rating agency’s decision to change the Bank’s credit rating to CCC+. At this stage, no significant negative factors causing concern have been identified. Should circumstances arise that could affect the Bank’s financial position or operations, the necessary measures will be taken promptly and to the appropriate extent.
The CCC+ rating confirms the key point: the Bank remains stable and continues to fully meet all of its obligations to customers. Its operational resilience is supported by effective management and an adaptable business model. For depositors and partners, this decision does not change anything — the mobile application, transfers, cash withdrawals, card and account services continue to operate as normal and will remain fully operational. The Bank has sufficient liquidity reserves and financial strength.

Why the Rating Is at This Level: A Matter of Methodology

One of the key indicators considered by the rating agency is Fitch Core Capital, which measures a bank’s core capital in relation to the size of its loan portfolio.
ANORBANK complies with all regulatory capital adequacy requirements established by the regulator.
At the same time, the rating agency applies its own methodology, under which the value of intangible assets — including acquired software — is deducted from capital.
This factor is particularly significant for ANORBANK. The nature of a digital bank requires substantial investment in technology. During the first four years of its operations, we actively invested in software solutions for remote customer service, including scoring systems, CRM, a credit origination platform, card delivery platforms, monitoring and accounting systems, among others. Many of these solutions were acquired as assets rather than through a licensing model with recurring payments.
These assets, which reflect the scale of the Bank’s technological infrastructure, became one of the key factors affecting the calculation under the agency’s methodology.

What’s Next

The change in the external assessment serves as an incentive for us to accelerate our internal transformation. Today, the ANORBANK team is focused on implementing positive initiatives: we continue our planned efforts to improve the stability of IT systems, develop remote service channels, and make everyday banking operations more convenient for our customers.
The Bank remains confident in the future and continues to develop as a reliable technology partner for its customers.

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