S&P Global Ratings revised its outlook for BCS Financial Group and its operating subsidiaries (BCS) from ‘stable’ to ‘positive.’

S&Р Global Ratings expects BCS to benefit from the operating environment, extending its market share and diversifying its revenue base. The ‘positive’ outlook for the ratings of its subsidiaries reflects S&P’s expectations that stronger regulatory oversight in Russia and favourable growth prospects in the retail equity markets particularly will enable BCS to achieve sustainable and controlled business growth in the next 12 months, without increasing its risk profile.

S&P also highlighted its positive view of the operating environment, which will help support 2021-2022 growth for equity market participants. According to S&P, the positive operating environment means BCS can offer its customers high-quality services in key areas such markets access and market-making, structured and other specialised products.

S&P also believes that BCS’s continued diversification of its clientele base and revenue sources, mitigating income volatility and curtailing dependence on trading revenue will generate a more stable commission revenue stream for the business going forward.
The ‘positive’ outlook reflects S&Р’s judgement that strengthening BCS’s business and financial risk profiles may have a positive influence on the performance of the non-operational holding company.
‘The positive outlook by S&P is good news for BCS, signalling that the company is developing in a sustainable way. We will continue our efforts to keep BCS growing and are optimistic for what 2021 holds. ” said MD, co-CEO BCS Global Markets Maxim Safonov.