The credit rating of LLC CB “GT bank” (hereinafter, GT bank or the Bank) is based on the Bank’s moderately low business profile assessment, strong capital adequacy, very low risk profile assessment, and its adequate funding and liquidity position.
The Watch Status has been removed due to the completion of the legal proceedings in Krasnodar’s Leninsky District Court, which the Bank participated in as a third party. The credit rating outlook has been changed from Developing to Stable in view of ACRA’s opinion regarding the Bank retaining its current rating over the horizon of 12 to 18 months.
GT Bank is a small credit institution that operates mainly in the Krasnodar Krai. The Bank’s core activities are corporate lending, in particular to companies providing utilities services and raising funds from individuals.
KEY ASSESSMENT FACTORS
The moderately low business profile assessment (bb-) reflects the Bank’s relatively low share in the Russian financial services market. At the regional level, however, the Bank holds adequate market positions and has a stable base of borrowers and depositors. The Bank’s operating income diversification is assessed as medium. The main sources of revenues for the Bank are interest income generated by funds provided to corporate clients and funds deposited with financial institutions. ACRA also notes the growth of interest income from the bond portfolio.
The Bank’s strategy provides for growth of its loan portfolio, resource base, and capital. In terms of active operations, GT bank aims to retain its focus on corporate lending. The Bank also intends to develop its line of commission products for legal entities in order to increase non-interest revenues and further diversify the structure of its liabilities.
ACRA assesses the Bank’s capital adequacy as strong. The Bank has a sufficient reserve of capital to withstand an increase in the cost of risk over 500 bps without violating the N1.2 ratio, which amounted to 22.18% as of June 1, 2026. The ability to generate capital is assessed as adequate. The Bank’s operational efficiency is characterized by a heightened ratio of costs to income (CTI) and a net interest margin (NIM) that exceeds those of peer credit institutions.
The very low risk profile assessment stems from the heightened non-performing and potentially non-performing debt (around 16.7% of the portfolio) coupled with an increased concentration on the 10 largest groups of borrowers (more than 60% of the portfolio). The heightened ratio of market risk to Tier 1 capital and the presence of non-core assets on the balance sheet received by the Bank as compensation from borrowers have a constraining effect on the risk profile assessment. Although GT bank is selling these assets, their share remains significant. ACRA assesses the quality of the securities portfolio, which is represented mainly by bonds, as acceptable. The quality of the risk management system is assessed as satisfactory.
Adequate funding and liquidity position. The Bank has a sufficient buffer of liquid assets allowing it to withstand a substantial outflow of client funds both in ACRA’s base case and stress scenarios on a 90-day horizon. The long-term liquidity shortage indicator (LTLSI) corresponds to a strong assessment.
The concentration on the largest source of funding, represented by individual funds, is acceptable. However, the concentration on funds raised from the largest client group and the 10 largest client groups remains heightened.
KEY ASSUMPTIONS
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Maintaining the current strategy and business model within the 12 to 18-month horizon;
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Maintaining N1.2 above 12% within the 12 to 18-month horizon.
POTENTIAL OUTLOOK OR RATING CHANGE FACTORS
The Stable outlook assumes that the rating will highly likely stay unchanged within the 12 to 18-month horizon.
A positive rating action may be prompted by:
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Lower share of non-performing debt in the loan portfolio;
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Lower concentration of the loan portfolio on the 10 largest groups of borrowers;
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Decline of non-core assets on the Bank’s balance sheet/volume of accepted market risk.
A negative rating action may be prompted by:
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Tier 1 capital adequacy (N1.2) falling below 12%;
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Deterioration of operational efficiency with regard to NIM;
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Deterioration of the liquidity position;
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Consistent decline of the diversification of funding sources.
rating components
Standalone creditworthiness assessment (SCA): bb-.
regulatory disclosure
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Applicable credit rating methodologies, including those used to assess the rated entity’s standalone creditworthiness and rating-sensitive external factors |
1. Methodology for Assigning Credit Ratings to Banks and Bank Groups under the National Scale for the Russian Federation to calculate the SCA and determine the credit rating and the credit rating outlook of LLC CB “GT bank” under the national scale for the Russian Federation.
2. Key Concepts Used by the Analytical Credit Rating Agency within the Scope of Its Rating Activities to ensure consistent and uniform application of ACRA’s methodologies, rating scales, models, and key rating assumptions. Watch Status has been removed as per the Key Concepts Used by the Analytical Credit Rating Agency within the Scope of Its Rating Activities. |
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First publication date of the credit rating |
May 17, 2019 |
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Last publication date of the credit rating |
March 18, 2026 |
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Next revision of the credit rating and the credit rating outlook |
Within one calendar year from the latest rating action date. |
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Material sources of information |
The rated entity, the financial statements drawn up in compliance with the requirements of the Bank of Russia, publicly available sources, and ACRA’s own databases. |
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Standards and date of the latest financial statements used as a source of information in the rating action |
IFRS as of 31 December, 2025 |
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Rating solicitation |
Solicited |
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Limitations with respect to the credit rating or the credit rating outlook, including those related to the quality of information on the rated object available to the credit rating agency |
ACRA used only information, the quality and reliability of which were, in ACRA’s opinion, appropriate and sufficient to apply the rating methodologies. No conflicts of interest were discovered in the course of the credit rating process. |
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Ancillary services, if any, provided to the rated entity during the year preceding the rating action, and the period of these services |
None |
