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31.05.2006
uaBBB+ credit rating assigned to upcoming bond issue of JSCB "TAS-Kommerzbank"
Today independent rating agency Credit-rating announced the granting of long-term uaBBB+ credit rating to JSCB TAS-Commerzbank.
Factor supporting the credit rating's level:
- Dynamical growth of main balance indices (banks assets grew from UAH 942 million the start of 2005 to UAH 2 billion as of 01.01.2006) which enabled the bank to rise from place 31 (2005) to 26 in the NBU ranking (2006);
- The banks improved market positions: development of regional infrastructure (up to 88 establishments), growing client base (legal entities by 2.7 times, individuals by 23 times over the past 5.5 years);
- Strong positions of JSCB TAS-Commerzbank in the factoring service market;
- Higher showings of the banks liquidity and supply with owned capital compared to the average showings in Ukrainian banking system.
Factors restricting the credit rating's level:
- Bank faces risks with rapid growth of balance indices and development of organization system in particular maintaining the assets quality and control over growth of expenses;
- Weak development of electronic funds transfer system at the moment restricts the banks competitive ability in the retail service market and predetermines growing expenses on its expansion and service.
For more detailed information, please contact us.
Kyiv (+38044 490 25 50, fax +38044 490 25 54)
