Print

IBI-Rating has affirmed the credit rating of JSB «UKRGASBANK»

13.12.2017
IBI-Rating informs on affirming of the credit rating of JSB «UKRGASBANK» at uaAA– grade, with a «stable» outlook. The rating of bank deposit reliability has been affirmed at «5+» grade (excellent reliability).

JSB «UKRGASBANK» has been operating in the banking market since January 1999. According to the classification of the National Bank of Ukraine, the institution belongs to state-owned banks, ranking, as of the beginning of October 2017, the 4th banking institution by size of assets; the 3th position in terms of enterprise funds; the 6th – by size of funds of population; the 7th – by size of the balance capital and the 11th – by amount of generated profit, respectively. Since 2009, the main owner of JSB «UKRGASBANK» has been the state represented by the Ministry of Finance of Ukraine (as at 01.10.2017, the share of the Ministry of Finance of Ukraine in the capital of the banking institution accounted for almost 95%).

During the period under review, the banking institution has continued to strengthen its market position and currently serves about 800 thousand customers. The customer base is diversified by customer category, programmes, sectors of the economy and regions. The JSB «UKRGASBANK» has a developed network of separate territorial divisions that cover all areas, and in the period under review it continued to increase the number of branches: in the last six months the number of operating branches has grown by 9 up to 241 offices as at 01.10.2017. As at the beginning of October this year, the regulatory capital of the banking institution was amounted UAH 4.9 bn, net assets and balance capital amounted to UAH 71.1 bn and UAH 5.2 bn respectively. Net profit of JSB «UKRGASBANK» for January-September of 2017 amounted to more than UAH 250 m.

A positive impact on the credit rating grade of JSB «UKRGASBANK» have, as follows: improved market positions and diversification of activities through attracting of new customers, high capitalization and liquidity ratios, acceptable performance indicators of the core activity, as well as the support by the State. At the same time, the Rating Agency takes into account preservation of the concentration of the loan portfolio by major borrowers, which along with a significant amount of adversely classified assets increases the Bank’s vulnerability to credit risk. It should also be noted that preservation of the difficult situation in the economy limits the financial capacity of the population and enterprises of the real sector, adversely affecting the level of confidence in banks.

In order to conduct the analytical research the materials provided by JSB «UKRGASBANK» 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