Ratings
Detailed information on Russian Agricultural Bank credit ratings
On 12th of August 2025, National Credit Ratings Agency (NCR) has affirmed the credit rating of Russian Agricultural Bank (hereinafter referred as ‘RusAg’ or ‘the Bank’) at the AA+.ru level with a ‘Stable’ outlook.
The affirmation reflects RusAg’s continued leadership in lending to the agricultural sector and high systemic importance to the Russian economy. NCR notes the Bank’s strong market position in its core segment – agricultural lending. RusAg accounts for more than a third of the total loan portfolio in this segment, including approximately 76% of the market of seasonal fieldwork loans.
https://www.ratings.ru/ratings/issuers/RSHB/
Note: Established in early 2019, National Credit Ratings (NCR) is a wholly owned subsidiary of RBC, a major Russian media group. The Bank of Russia added NCR to the list of accredited ratings agencies in September 2019. Using the most rigorous criteria, NCR rates financial institutions and insurers, corporates of all kinds, holding companies, local and regional governments, and debt obligations. Following best global practices, NCR has set new transparency standards for the Russian ratings industry and instituted several innovations to promote clarity, knowledge and better understanding for the entire community.
On 30 of December 2025, Analytical Credit Rating Agency (hereinafter referred as ‘ACRA’ or ‘the agency’) has affirmed the long-term credit rating of Russian Agricultural Bank (hereinafter as ‘RusAg’ or ‘the Bank’) at AA(RU). ACRA has also affirmed the rating on the Bank’s senior unsecured debt at AA(RU). The Bank’s standalone creditworthiness assessment has been upgraded by one notch from bbb to bbb+. In addition, the credit rating on the Bank’s subordinated perpetual bonds has been upgraded by two notches from B+(RU) to BB(RU).
The affirmation reflects RusAg’s very high systemic importance to the Russian economy and national banking system, as well as its leading position in the agricultural sector, which is strategically important for the state.
The agency notes the Bank’s robust franchise and significant positions in agricultural lending and within the broader Russian banking system. According to ACRA, RusAg maintains a conservative approach to loan portfolio expansion, which support effective credit risk management amid an unpredictable operating environment.
The upgrade in the Bank’s standalone creditworthiness assessment is primarily driven by an improved assessment of capital adequacy, underpinned by sustained capital generation and maintained capital adequacy ratios.
Note: ACRA is one of the biggest Russian authorized credit rating agency, founded in 2015. ACRA operates in compliance with the latest regulatory requirements and best global practices. The Agency’s main objective is to provide high-quality rating and analytical products to participants in financial markets on both the national and international levels.
On 29 of May 2026, China Lianhe Credit Rating Co., Ltd (Lianhe Ratings), a leading credit rating agency in China has affirmed Russian Agricultural Bank’s Credit Rating at the highest possible level ‘AAA’, Outlook Stable.
"The highest ‘AAA’ rating assigned by one of China’s leading credit rating agencies confirms the strength of Rosselkhozbank’s financial profile and its significant role in the Russian economy. It also creates additional opportunities to support the export-import activities of Rosselkhozbank’s clients conducting business with Chinese counterparties," commented Mikhail Ferapontov, Deputy Chairman of the Management Board of Rosselkhozbank.
Experts emphasized the quality of the Bank’s loan portfolio. According to the agency’s assessment, RusAg is improving its risk management indicators and reducing the level of non-performing loans through systematic work with problem loans.
Note: China Lianhe Credit Rating is one of China’s leading credit rating agencies, holding more than 30% of the domestic rating market. Lianhe Ratings operates in strict accordance with international rating standards and enjoys broad recognition among market participants. The agency employs approximately 400 analysts and provides rating coverage for more than 2,000 issuers, including major financial institutions such as China Construction Bank, Industrial and Commercial Bank of China (ICBC), Bank of China, Agricultural Bank of China, and CITIC Bank, among others.