IBI-Rating has affirmed the credit rating of "APEX - BANK" PJSC at uaBBB grade

IBI-Rating informs on the affirmation of the credit rating of "APEX BANK" PJSC at uaBBB grade, maintaining a "stable" outlook.

The affirmed credit rating of " APEX BANK " PJSC is due to its preserving of adequate capital ratios. It should be noted that there is the Bank's sensitivity to credit risk due to the preservation of the concentration of the customer loan portfolio by major borrowers. Significant concentration of the resource base by major creditors and the customer deposit portfolio by major depositors has also remained. In addition, the Bank's vulnerability to certain financial risks has increased due to the market conditions and unstable situation in the country. The Bank’s assets and liabilities are properly balanced by terms to maturity of up to 31 days. During the analyzed period, the Bank's operations were unprofitable, but still, the Bank maintains high levels of performance indicators.

IBI-Rating does not see any factors that may lead to upgrading of the Bank's credit rating grade in the short term. Lowering of the credit rating is possible in the event of worsening of the Bank’s solvency (liquidity); growth of credit risks due to the deterioration of servicing of the granted loans, the Bank's increased vulnerability to market risks and increased unprofitability, as well as the deterioration of the political and economic situation in the country.

In order to perform the analytical research the materials obtained from "APEX - BANK" PJSC were used, including the annual financial statements for 2012-2015, and other necessary internal information as well as the information from the public sources, which the rating agency believes reliable.

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