Pivdenny Bank authorised capital increased by UAH 222 million

Pivdenny Joint-Stock Bank increased its authorised capital by UAH 222 million due to the distribution of profits for 2019 and 2020. This decision was made on 22 April 2021 at the bank’s Annual General Meeting.

In addition, UAH 20 million were allocated to the reserve fund. As a result, the bank’s fixed capital will be increased by UAH 242 million (11 %) due to the distribution of profits.

Increase of the authorised capital and reserve fund will make it possible for the bank to provide a solid foundation for further growth within the long-term capitalisation strategy.

According to the results of 2020, Pivdenny Bank occupies 2^nd place in assets, loan portfolio and corporate funds and 1^st place in trade finance in the national currency in the list of Ukrainian banks with private capital. According to Moody’s international rating agency, the baseline credit assessment of Pivdenny Bank is at the level b3 and the forecast is “stable”, which is the maximum value possible for a bank in Ukraine with the current b3 level sovereign credit rating in the country.

The net profit of Pivdenny Bank in 2020 amounted to UAH 274 million.