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IBI-Rating has affirmed the credit rating of «BANK BOGUSLAV» JSC at uaA- grade

28.03.2017
Rating agency IBI-Rating informs on affirming of the credit rating of «BANK BOGUSLAV» JSC at uaA- grade with a «stable» outlook. The rating of bank deposit reliability has been affirmed at «4» grade (high reliability).

«BANK BOGUSLAV» JSC has been carrying out its activity in the banking market of Ukraine since December 2006. The Bank's shareholders are natural persons – Mr. Romanenko Vladimir Ivanovich and Mrs. Vakulenko Natalia Leonidovna. The Head office of «BANK BOGUSLAV» JSC is located at the address: 81 Nizhneurkovskaya St., Kiev. As of the beginning of 2017, the bank was represented by 11 branches (8 branches in Kiev, 3 branches - in Odessa region, respectively). The customer base of the Bank has more than 10 thousand customers, including 1.6 thousand legal entities.

During 2016 «BANK BOGUSLAV» JSC complied with all the NBU economic norms, and had a significant margin of deviation for most of them. The regulatory capital meets the NBU requirements and, at the beginning of 2017, amounted to UAH 192.2m, including UAH 180m of the authorized capital. In order to meet requirements of the NBU resolution No 242, at the end of last year, the Bank's owners decided to increase the authorized capital up to the amount of UAH 210m; as at the beginning of March of the current year, the funds in the amount of UAH 30m are recorded as unregistered contributions of shareholders. In the second half of 2016, the Bank's performance indicators improved, primarily due to an increase in net interest income and optimization of administrative expenses, which, in turn, allowed to reduce the negative financial result. As a result, loss of «BANK BOGUSLAV» JSC by results of the previous year amounted to UAH 2.5m (versus profit in the amount of UAH 1.5m for 2015).

The Bank’s ratings are maintained by keeping of sufficient capitalization ratios, acceptable liquidity ratios, including through balancing of assets and liabilities by terms to maturity, as well as improved performance indicators. At the same time, sensitivity to credit risk and liquidity risk persists, due to high concentration of the customer loan portfolio by major borrowers and concentration of the deposit portfolio by major depositors. Also, Rating agency IBI-Rating notes 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 «BANK BOGUSLAV» JSC have been used, including: annual financial statements for 2014-2016, 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