The international rating agency MOODY`S upgraded the ratings of Pivdenny Bank
The international rating agency MOODY`S has revised the ratings of Pivdenny Bank. As a result, Pivdenny Bank has risen one notch in the risk assessment rating (Caa1 → B3). The bank’s long-term deposit rating has also been revised upward (Caa2 → Caa1 with a “stable” outlook).
In addition, MOODY`S increased by one step the basic assessment of the bank's creditworthiness (Caa2 → Caa1). This is the maximum possible value for the Ukrainian bank with the existing sovereign rating of Ukraine (Caa1), which was also revised one step up (Caa2 → Caa1).
The growth of Pivdenny Bank's ratings was facilitated by such factors as improved asset quality, a significant increase in profitability (more than three times in the first 9 months of this year), a significant liquidity reserve and low dependence on interbank resources.
“Pivdenny Bank fulfills all the NBU's economic standards and continues to increase capital adequacy. The Н2 norm has grown from 10.37% at the beginning of 2018 to 11.77% as of 26 December, 2018”, – said Dmitry Votchenko, Director of the Financial Department of Pivdenny Bank – “In addition, Pivdenny Bank is the only Ukrainian bank with private capital that cooperates with an international rating agency, which is an additional confirmation of the bank's reliability and its focus on long-term sustainable development”.
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.