MOODY`S boosts the rating of Pivdenny Bank’s foreign-currency deposits

International rating agency MOODY`S increased the long-term rating of Pivdenny Bank’s foreign-currency deposits by one rank (caa1 → b3). After the increase, this figure returned to pre-crisis levels from 2012. The forecast is “stable”. This was reported in a press release issued by the agency.

This is the maximum possible value for the Ukrainian bank under the existing sovereign rating of the country, which was also revised one rank up (Саа1 → b3).

Among the bank's strengths that helped to raise the rating, MOODY`S noted a stable level of profitability, sufficient capital reserves, a significant liquidity buffer and low dependence on interbank resources.

The revision of the rating confirms the increase in the bank's financial stability.

Pivdenny Joint-Stock Bank complies with all economic standards of the NBU and continues to increase capital adequacy.

As of 1 October 2020, the regulatory capital adequacy ratio is 13.9 % (regulatory value – 10 %), and the fixed capital adequacy ratio is 10.8 % (regulatory value – 7 %).

We would like to remind readers that in the first nine months of 2020, Pivdenny Bank was included in the top 3 most profitable Ukrainian banks with private capital. The bank's net profit in January-September 2020 amounted to UAH 257.31 million, which is 5.3 % more than in the same period of 2019 (UAH 244.39 million). Since 2019, according to the NBU, Pivdenny Bank has been included in the category of systemically important banks in Ukraine.