Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF A FOREIGN ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For August 1, 2023
Commission File Number 001-35893
12-14 Kennedy Ave.
Kennedy Business Centre, 2nd Floor, Office 203
1087 Nicosia Cyprus
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form
Indicate by check mark whether the registrant
by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b)
under the Securities Exchange Act of 1934.
If ''Yes'' is marked, indicate below the file
number assigned to the registrant in connection with Rule 12g3-2(b):
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
||QIWI PLC (Registrant)|
|Date: August 1, 2023
||/s/ Alexey Mashchenkov|
||Chief Financial Officer|
QIWI Announces Credit Ratings Update
NICOSIA, CYPRUS – August 1, 2023 –
QIWI plc (NASDAQ and MOEX: QIWI) (“QIWI” or the “Company”), an innovative provider of cutting-edge payment and
financial services, today announced that Russian credit rating agency, ExpertRA, has reviewed its credit ratings for QIWI plc and QIWI
Following the restrictions imposed on certain
operations of Qiwi Bank by the Central Bank of Russia (the “CBR”), ExpertRA lowered credit ratings for QIWI plc to ruBBB+
and for QIWI Bank to ruBBB- with “developing” outlook, and kept both ratings on “credit watch”.
Although the technical deficiencies (e.g., minor
inaccuracies in the documentation of some transactions) identified by the CBR are typical for organizations of our size, the rating agency
had to consider the fact of the valid order from the CBR as a trigger for the revision of the credit ratings.
Since July 26, 2023, the Company has introduced
temporary partial limitations for individuals to withdraw funds from QIWI wallets to bank accounts or to make cash withdrawals. At the
same time, users of our QIWI wallet have a variety of options to spend their money, for instance transferring money to other digital wallets
and/or making payment for goods and services. Furthermore, money transfers of CONTACT, acquiring for merchant, and payments to third-party
accounts and cards from legal entities are not affected by the restrictions.
The Company remains financially stable and profitable
despite the temporary restrictions.
As of the date of this press release, Qiwi Bank
has already corrected the deficiencies identified by the CBR and the Company will update stakeholders on developments in the upcoming
About QIWI plc.
QIWI is an innovative provider of cutting-edge
payment and financial services. We stand at the forefront of fintech innovations to facilitate and secure the digitalization of payments.
Our mission is to connect our clients providing unique financial and technological solutions to make the impossible accessible and simple.
We offer a wide range of products under several directions: QIWI payment and financial services ecosystem for merchants and B2C clients
across digital use-cases, ROWI digital structured financial products for SME, digital marketing, and several other projects.
For the FY 2022 QIWI had revenue of RUB 51.5 billion
and an Adjusted EBITDA of RUB 19.8 billion. QIWI's American depositary shares are listed on the NASDAQ and Moscow Exchange (ticker: QIWI).
For more information, visit investor.qiwi.com.
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