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IBI-Rating has affirmed the credit rating of PJSC «BANK SICH» at uaA– grade

28.12.2017
IBI-Rating informs on affirming of the credit rating of PJSC «BANK SICH»  at uaA- grade with a «stable» outlook.

PJSC «BANK SICH» has been operating in the financial market since 2011 and is in the group of banks with private capital, as per criteria for allocating banks to groups in 2017. Beneficiary owners of the banking institution are 2 private individuals (citizens of Ukraine). On June 26, 2017, a new wording of the Charter of the banking institution was approved in connection with the increase of the authorized capital to UAH 200.09 mln. at the expense of private placement of shares. It should also be noted that in early December 2017, the shareholders of the bank decided to increase the authorized capital by an amount of UAH 99.9 mln. As of the beginning of October this year, the regional network of a banking institution is represented by 56 branches in 14 oblasts of Ukraine. The activity of PJSC «BANK SICH» is kept profitable - the net profit of the bank for January-September 2017 amounted to UAH 739 thou.

The affirmed credit rating of PJSC «BANK SICH» is due its acceptable liquidity ratios, sufficient capitalization ratios while retaining the support from its owners, as well as improving the market position of the banking institution by expanding the territorial presence and increasing the number of clients. At the same time, the concentration of the loan portfolio and the deposit base of the Bank by major customers remains significant, which increases sensitivity of PJSC «BANK SICH» to liquidity risk. Also, the rating of the banking institution is influenced by preservation of the difficult situation in the economy limiting the financial capacity of the population and enterprises of the real sector and adversely affecting the level of confidence in banking institutions.

In order to conduct the analytical research the materials provided by PJSC «BANK SICH» have been used, including: annual financial statements for 2014-2016 and 9 months of 2017, target performance indicators, other necessary internal information, as well as the information from the public sources, which the Rating agency considers credible.

Finance department
For more information please contact:
Press service of IBI-Rating
(044) 362-90-84
press(at)ibi.com.ua