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07.08.2006
uaBB+ credit rating assigned to Europeisky bank
Today independent rating agency Credit-Rating announced the granting of a long-term uaBB+ credit rating to JSCB Evropeyskiy (Kyiv).
Credit-Rating agency also announced the granting of a long-term uaBB+ credit rating to the registered interest-bearing bond issue (A series) by JSCB Evropeyskiy in the amount of UAH 20 million with a circulation period of 3 years.
Factors supporting the credit rating's level:
- development dynamics of the bank over the last reporting periods: 2005 first 4 months of 2006 the banks assets grew 41.9%, liabilities 42.7%, return on assets in 2005 was 2.1%, return of owned capital 14.7%;
- dynamical growth of the banks client base over the past periods (increased number of depositors: individuals by 21.5 times, legal entities by 2 times in the past year and a half), due to the change of development strategy of JSCB Evropeyskiy;
- expected merge of JSCB Vladimirskiy and JSCB Evropeyskiy will enable the latter to largely enhance its positions in the east of Ukraine, and increase its client base and volumes of main groups of assets and liabilities;
Factors restricting the credit rating's level:
- insufficient development of territorial network of JSCB Evropeyskiy (the banks first branch was started in 2005 only) and electronic transfer system;
- considerable concentration of credit risks and high dependence of the banks resource base on certain depositors;
- the banks financial performance had unstable dynamics over the past 5 years;
- a rather low quality of the credit portfolio.
For more detailed information, please contact us.
Kyiv (+38044 490 25 50, fax +38044 490 25 54)
