OREANDA-NEWS. November 30, 2012. The Bank’s credit rating was initially assigned by Standard & Poor’s in July 2011. The upgrade by Standard&Poor’s reflects the agency’s opinion that Otkritie Bank has completed operational integration with the banks it recently acquired and should benefit from the increased franchise, client base, and network, reported the press-centre of Otkritie Bank.   

The agency notes, that Otkritie Bank has strengthened its business position, and streamlined and improved control systems over the network, as well as risk management and corporate governance practices.

"Otkritie Bank has effectively completed the post-merger integration of the four banks, and we are pleased that the respected international rating agency has recognized our efforts in this regard. We continue working on increasing the efficiency and profitability of our business and enhancing our risk management practices, which have always been of great importance to us", says Evgeny Dankevich, Chairman of Otkritie Bank’s Executive Board.