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IBI-Rating has affirmed the rating of bank deposit reliability of «UNEX BANK» PJSC at 4+ grade

14.07.2016
IBI-Rating informs on affirming of the rating of bank deposit reliability of «UNEX BANK» PJSC at 4+ grade (high reliability). Rating of bank deposit reliability at grade 4+ indicates that the financial institution is reliable, pays its obligations timely within the requirements established by the current legislation of Ukraine, including those of the NBU. The problems with a timely return of deposits are unlikely to arise, although there is a certain dependence of the financial institution on the impact of external and internal factors. The impact assessment of external factors does not apply to the situations involving force majeure circumstances.

The affirmed grade of the rating of bank deposit reliability of «UNEX BANK» PJSC is due to its preservation of a sufficient level of capitalization ratios. «UNEX BANK» PJSC in a timely manner and full volume fulfills its obligations to creditors. The actual liquidity ratios exceed the minimum acceptable established the NBU. However, assets and liabilities are not properly balanced by their terms to maturity, which along with the existing dependence on major customers increases vulnerability of the Bank to liquidity risk. In addition, the impact on susceptibility to certain financial risks may increase as a result of persisting negative tendencies in the economy and reduced solvency of borrowers.

The Bank’s asset quality remains good, but susceptibility of «UNEX BANK» PJSC to credit risk increases due to considerable concentration of the customer loan portfolio. A key component of the resource base remains customer funds, including a significant volume of funds attracted from related parties. By results of 1Q of the current year, the Bank’s activity was profitable, and performance indicators improved, as compared to last year, and are acceptable.

IBI-Rating sees no factors that may lead to upgrading of the Bank’s rating of bank deposit reliability in the short term. Lowering of the credit rating is possible in the event of deterioration of the Bank’s solvency (liquidity); growth of credit risks due to deterioration of servicing of granted loans, increased vulnerability of the Bank to market risks, decreased performance indicators, as well as deterioration of the political and economic situation in the country.

In order to conduct the analytical research the materials provided by «UNEX BANK» PJSC have been used, including: annual financial statements for 2013–2015 and 3 months of 2016, 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