The long-term credit rating of Pivdenny Bank is affirmed at uaAA
The independent rating agency Credit-Rating confirmed the long-term credit rating of Pivdenny Bank at uaAA with a stable outlook. The agency also confirmed the bank deposit reliability rating at the “4+” level (high reliability).
Confirmation of the credit rating of the bank is based on the growth of operating profit, increase in capital, maintaining a low level of problem loans and the qualitative structure of attracted funds.
According to the agency’s national rating scale, a borrower with a rating of “uaАА” is characterized by very high solvency compared to other Ukrainian borrowers or debt instruments, and a stable outlook indicates that there are currently no prerequisites for changing the rating throughout the year.
In December 2018, the international rating agency MOODY`S raised the ratings of Pivdenny Bank. As a result, Pivdenny Bank rose one step in the risk assessment rating (Caa1 → B3). The long-term deposit rating of the bank was also revised upwards (Caa2 → Caa1 with a “stable” outlook).
Pivdenny Bank is a universal Ukrainian bank, founded in 1993, with its head office in Odessa. The Bank offers a wide range of services for business clients and individuals throughout Ukraine through a regional network, which by the end of December 2018 consisted of 95 branches in 18 regions of Ukraine. According to the results of 2018, the net profit of Pivdenny Bank amounted to UAH 274 million, which is over five times higher than last year.