IBI-Rating has affirmed the credit rating of «Lviv» PJSCB at uaBBB grade

IBI-Rating informs on affirming of the credit rating of «Lviv» PJSCB at uaBBB grade, keeping the «stable» outlook. The rating of bank deposit reliability has been affirmed at «5» grade.

The affirmation of the ratings of «Lviv»PJSCB is due to the available financial support from the Bank’s owner, good diversification of the customer deposit portfolio by major depositors, as well as sufficient liquidity ratios and the balance of assets and liabilities by terms to maturity. However, the Rating agency notes preservation of the concentration of the customer loan portfolio by major borrowers, as well as low performance indicators. The ratings of the banking institution are also 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 banking institutions.

«Lviv» PJSCB has been working in the financial market since October 1991. In 2006, a group of Icelandic companies through «New Progress Holding» LLC bought a controlling stake, which became a new stage in the Bank's development. As of the beginning of April of the current year, Icelandic investors own 99.86% of shares of «Lviv» PJSCB. In May 2017, an increase in the authorized capital by the amount of UAH 37.5m to the amount of UAH 305.4m was registered. The Bank is represented by the Head Office and 24 branches in 7 regions of Ukraine, mainly in the western region. Net income of the banking institution by results of the first quarter of the current year amounted to almost UAH 3.8m.

In order to conduct the analytical research the materials provided by «Lviv» PJSCB have been used, including: annual financial statements for 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.