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ACRA assigns AA(RU) to JSC «RN Bank», outlook Stable

March 02, 2017 | ACRA

The credit rating of JSC «RN Bank» (hereinafter – RN Bank, or the Bank) is based on a very high probability of the Bank obtaining support from its shareholders that boast moderately strong financial profiles. Its standalone creditworthiness is characterized by healthy capital adequacy, an adequate risk profile and satisfactory liquidity and funding positions.

RN Bank is a growing medium-sized credit institution fully owned by foreign shareholders, whose list includes the Italian bank UniCredit S.p.A. (40%), the French automobile manufacturer Renault S.A. (30% via its subsidiary RCI Banque S.A.), and the Japanese company Nissan Motor Co., Ltd (30%). As a captive finance company of Renault–Nissan Alliance, the Bank has focused its business profile on providing car loans and factoring financing of automotive dealers, with funds sourced mainly from its shareholders. RN Bank has no branch network and provides loans to individuals at car sales points (spread out nationwide, but concentrated mostly in the Central Federal District of Russia), while making factoring deals at its headquarters.

Company: RN Bank

Full company nameJoint Stock Company «RN Bank»
Country of riskRussia
Country of registrationRussia
IndustryBanks

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