IBI-Rating has upgraded the credit rating of «Bank ¾» OJSC to uaBBB+ grade

IBI-Rating informs on upgrading of the credit rating of «Bank ¾» OJSC to uaBBB+ grade with a change in the outlook to «stable». The rating of bank deposit reliability has been upgraded to «4+» grade (high reliability).

Upgrading of the ratings of «Bank ¾» OJSC is due to high ratios of capitalization and liquidity, as well as effectiveness of core activities while maintaining an insignificant level of bad debts in the structure of working assets. At the same time, the Rating agency notes preservation of the concentration of the loan portfolio by major borrowers, as well as that of the resource base by major lenders. The ratings of the banking institution are affected 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 banks.

«Bank ¾» OJSC has been working in the financial market since 2008, and currently belongs to Group II of banks by size of assets, in accordance with criteria for2017 classification of banking institutions. Since 2010, the sole shareholder of the bank has been Mr. Ishchenko V.A. (Chairman of the Board). At the end of May 2017, the state registration of a new version of the Bank's by-laws was carried out, in connection with the increase of the authorized capital to the amount of UAH 403.2m through increasing the nominal value of shares. Recently, the banking institution has expanded the possibilities of attracting customers, including through popularizing distance service. The regional network is represented by 5 operating branches. The Bank is actively developing a network of self-service terminals, as well as card business (in cooperation with VISA). Profit of the Bank by results of 2016 and 3 months of 2017 amounted to UAH 56m and UAH 6.6m, respectively.

In order to conduct the analytical research the materials provided by «Bank ¾» OJSC have been used, including: financial statements based on the results of 2014-2016 and 3 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

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