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IBI-Rating has affirmed the credit rating of "FIRST INVESTMENT BANK" PJSC at uaBBB + grade

18.01.2016
IBI-Rating has affirmed the credit rating of "FIRST INVESTMENT BANK" PJSC at uaBBB + grade preserving the "developing" outlook.

The affirmation of the credit rating grade of "FIRST INVESTMENT BANK" PJSC is due to the preservation of the Bank’s adequate capital ratios. At the same time, the Rating agency notes the Bank's sensitivity to credit risks due to the concentration of the customer loan portfolio by major borrowers. There also remains significant concentration of the resource base by major creditors and customer deposit portfolio by major investors. However, a discrepancy of assets and liabilities by terms to maturity should be noted, which increases the Bank's vulnerability to liquidity risk. During the analyzed period, the Bank’s operations were not profitable, and its performance indicators were not high. At the same time, the Bank demonstrates the information openness and transparency.

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

In order to carry out the analytical research the materials provided by "FIRST INVESTMENT BANK" PJSC were used, including the annual financial statements for 2011-2014 and 9 months of 2015, target performance indicators for 2016, other necessary internal information as well as the information from the public sources, which the Rating agency considers reliable.

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