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IBI-Rating has affirmed the credit rating of «APEX-BANK» PJSC at uaBBB grade
05.10.2016IBI-Rating informs on affirming of the credit rating of «APEX-BANK» PJSC at uaBBB grade, keeping the «negative» outlook.
The affirmation of the credit rating of «APEX-BANK» PJSC is due to its low levels of capitalization, violation of certain economic ratios established by the NBU, as well as preservation of concentration of the loan portfolio and deposit base by certain counterparties. During the period under review, the Bank’s activity was unprofitable with low performance indicators. At the same time, «APEX-BANK» PJSC fulfills the Action plan to stabilize its activities, and its assets and liabilities are properly balanced by final terms to maturity. The owners also exerted efforts to improve the Bank’s capitalization: in June and July 2016, the subordinated debt was channeled at increasing the authorized capital (funds were accounted for as unregistered shareholder contributions).
A change of the credit rating outlook is possible in the event of additional capitalization of the Bank, fulfillment of the Action plan to stabilize its activities and bringing of the actual values of economic ratios up to the regulatory requirements. Downgrading of the credit rating is possible in the event of worsening of the Bank’s solvency (liquidity); increased credit risks due to deterioration of servicing of the granted loans, increased vulnerability of the Bank to the market risks, increased unprofitability, as well as deterioration of the political and economic situation in the country.
In order to conduct the analytical research the materials provided by «APEX-BANK» PJSC have been used, including: annual financial statements for 2013-2015 and 6 months of 2016 , other necessary internal information, as well as the information from the public sources, which the Rating agency considers credible.
Financial Department.
For additional information please contact:
Press office of IBI-Rating
(044) 362-90-84
press(at)ibi.com.ua
The affirmation of the credit rating of «APEX-BANK» PJSC is due to its low levels of capitalization, violation of certain economic ratios established by the NBU, as well as preservation of concentration of the loan portfolio and deposit base by certain counterparties. During the period under review, the Bank’s activity was unprofitable with low performance indicators. At the same time, «APEX-BANK» PJSC fulfills the Action plan to stabilize its activities, and its assets and liabilities are properly balanced by final terms to maturity. The owners also exerted efforts to improve the Bank’s capitalization: in June and July 2016, the subordinated debt was channeled at increasing the authorized capital (funds were accounted for as unregistered shareholder contributions).
A change of the credit rating outlook is possible in the event of additional capitalization of the Bank, fulfillment of the Action plan to stabilize its activities and bringing of the actual values of economic ratios up to the regulatory requirements. Downgrading of the credit rating is possible in the event of worsening of the Bank’s solvency (liquidity); increased credit risks due to deterioration of servicing of the granted loans, increased vulnerability of the Bank to the market risks, increased unprofitability, as well as deterioration of the political and economic situation in the country.
In order to conduct the analytical research the materials provided by «APEX-BANK» PJSC have been used, including: annual financial statements for 2013-2015 and 6 months of 2016 , other necessary internal information, as well as the information from the public sources, which the Rating agency considers credible.
Financial Department.
For additional information please contact:
Press office of IBI-Rating
(044) 362-90-84
press(at)ibi.com.ua