Fitch alters Tinkoff Bank view to stable

Fitch Ratings said it revised Tinkoff Bank's outlook to stable from negative while affirming the bank's long-term issuer default ratings at BB.

“The outlook revision reflects reduced pressure on Tinkoff's credit profile from the pandemic, lower oil prices and the resulting economic contraction in Russia. Fitch believes that Tinkoff's pre-impairment profitability should be sufficient to absorb additional asset-quality pressures even in a longer and more severe downturn than currently anticipated,” the agency said in a press release.

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