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08.10.2007
Credit-Rating rates BTA Bank at uaBBB
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today assigned Kiev-based BTA Bank OJSC (`Bank`) a long-term credit rating of uaBBB . In the course of analysis Credit-Rating considered Bank`s financial statements for 2002-2006 and 1H2007 as well as other inside information furnished by the Bank.
An obligor or a debt liability with uaBBB credit rating is characterized with the SUFFICIENT creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is affected by adverse changes in commercial, financial and economic conditions.
Factors maintaining the credit rating
- The Bank enjoys support from Bank TuranAlem which is its stockholder and strategic partner, being one of the biggest systemic banks in Kazakhstan.
- The specific gravity of overdue and doubtful debts in Bank`s client portfolio accounted for 0.28 per cent as of Jul. 1, 2007.
- The Bank`s key figures remain on adequate level for the national banking system.
Factors constraining the credit rating
- Bank`s resources are concentrated on certain borrowers, in fact the funds of 20 biggest borrowers account for 80 per cent of Bank`s liabilities.
- Bank`s underdeveloped branch network and card segment which hampers Bank`s capabilities in competing other banks that position themselves as systemic and universal.
Information on all credit ratings assigned in accordance with the Ukrainian national scale may be found in REUTERS, BLOOMBERG and FTN MONITOR information systems.
For further information, please contact:
Information and analytic department
Sergey Rozumyak +38 044 490 25 50
SRozumyak@credit-rating.com.ua
