Pivdenny Bank increases its authorised capital by UAH 186 million

Pivdenny Joint-Stock Bank increased its authorised capital by UAH 186 million using part of the bank’s profits for 2018-2019.

Due to the distribution of profits, the bank’s authorised capital was increased by 11.4 %.

The increase in authorised capital will allow the bank to provide a solid foundation for further growth and achievement of strategic goals.

At the beginning of September, Pivdenny Bank ranked 12th in the system in terms of assets and 4th in terms of documentary transactions. The Pivdenny Bank basic credit rating, according to Moody’s International Rating Agency, is at the level of b3 and the forecast is “stable”, which is the maximum possible value for the Ukrainian bank under the existing b3 sovereign rating of the country.

Pivdenny's net profit in 2019 amounted to UAH 300 million, which is 9.5 % more than in the previous year.

Despite the significant negative impact of quarantine on the financial performance of the banking system, Pivdenny Bank continued the trend of increasing profitability: the amount of net profit for the first nine months of 2020 increased compared to the same period last year by UAH 13 million (5.3 %). Since 2019, according to the NBU, Pivdenny Bank has been included in the list of systemically important banks of Ukraine.