IBI-Rating has affirmed the credit rating of OKCI BANK, PJSC at uaBBB grade

IBI-Rating informs on affirming of the credit rating of OKCI BANK, PJSC at uaBBB grade, with a «stable» outlook. The rating of bank deposit reliability has been affirmed at «4» grade (high reliability).

OKCI BANK, PJSC has been operating in the financial market since 1991 and is in the group of banks with private capital, as per criteria for allocating banks to groups. Beneficiary owners of the banking institution are 2 private individuals - citizens of Ukraine. The authorized capital of the institution is amounted up to UAH 200 mln. OKCI BANK, PJSC is mainly focused on serving the individuals and SMEs, and its regional network covers 5 regions (Lviv, Zakarpattya, Kharkiv, Khmelnytsky and Kyiv oblasts). In addition, the institution is actively developing remote customer service and card business.

Taking into account the formation of additional reserves for active operations in the current year, as well as due to an increase in other operating expenses, the net financial result for the first 9 months of 2018 was negative (UAH -2.1 million). The financial result of the banking institution is quite sensitive to the dynamics of the quality of working assets, taking into account their concentration, the rather low level of loan backing, as well as a possible revision of the quality of returnable assets.

The affirmation of the credit rating of OKCI BANK, PJSC is due to the sufficient indicators of capitalization, high indicators of liquidity and balance of assets and liabilities by maturity. Also, the Rating agency notes an acceptable indicators of the quality of working assets. At the same time, the concentration of the loan portfolio and the deposit base of the bank in the context of key customers remains significant, which increases the sensitivity of OKCI BANK, PJSC to liquidity risk. The ratings of the banking institution are also affected by preservation high sensitivity of the banking system to operational risks, which is due to the volatility of the legislative field, the difficult situation in the economy, as well as limited financial resources of the population and enterprises in the real sector.

In order to conduct the analytical research the materials provided by OKCI BANK, PJSC have been used, including: annual financial statements for 2015–2017 and 9 months of 2018, as well as 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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