print
17.08.2006
uaBBB credit rating assigned to upcoming bond issue of OJSC JSB Ukrgazbank
Today independent rating agency Credit-Rating announced the granting of a long-term uaBBB credit rating to the registered interest-bearing bond issue by OJSC JSB Ukrgazbank in the amount of UAH 100 million with a circulation period of 5 years.
Factors supporting the credit rating’s level:
- The bank’s dynamical growth over the past 5 years – the assets grew by UAH 2.28 billion – to UAH 2.6 billion (as of 01.06.2006);
- high diversification of bank’s assets and liabilities by territorial characteristics and clients of different forms of ownership and economy industries;
- rather well-developed territorial structure, as of 01.06.2006 the bank has 21 affiliates and 111 branch departments;
- improved corporate governance of the bank; cooperation with International Financial Corporation (IFC);
- positive working experience in stock market; bank regularly takes leading positions according to rankings of First Financial Trading System traders.
Factors restricting the credit rating’s level:
- low bank performance indicators in the recent years (in 2005 return on assets was 0.7%, return on equity – 7.7%, credit-deposit margin of the five months of 2006 was 1.26%), which requires constant margin analysis of credit and debit operations expansion;
- imbalances in bank’s development due to the scheduled considerable expansion of regional network of establishments, development of electronic transfer system and further increase of assets and liabilities volumes.
For more detailed information, please contact us.
Kyiv (+38044 490 25 50, fax +38044 490 25 54)
