The largest specialized consumer finance bank in Russia, Russian Standard ranks among the top 20 domestic banks. It is 90.75% controlled by the eponymous vodka-maker and had assets worth 127 billion rubles (about $4.5 billion) and consumer loans of 116 billion ($4.1 billion) as of March 31.
S&P also affirmed in a release Monday the B+ and B long- and short-term counterparty credit ratings, as well as the ruA+ Russia national scale rating.
"The outlook revision reflects the bank's sustained commercial and financial performance, which improves the potential for a future upgrade," S&P credit analyst Yekaterina Trofimova said.
"We expect that, in the context of Russia's growing economy, Russian Standard will continue successfully expanding its consumer finance business, while keeping credit and funding risks under control," Trofimova said.
