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IBI-Rating has affirmed the credit rating of JSB «UKRGASBANK»
11.07.2019IBI-Rating informs on affirming of the credit rating of JSB «UKRGASBANK» at uaAA grade, with a «stable» outlook. The rating of bank deposit reliability has been affirmed at «5+» grade (excellent reliability).
JSB «UKRGASBANK» has been operating in the banking market since January 1999. Since 2009, the key owner of the institution has been the State, which is represented by the Ministry of Finance of Ukraine (almost 95% of the shares). According to the results of January-March 2019 among 77 banks JSB «UKRGASBANK» ranked 4th position by size of assets; 6th - by size of funds of population, 9th - in terms of balance capital and the 19th - by amount of generated profit, respectively. It should be noted that due to the active development of various banking products and active cooperation with the corporate sector, JSB «UKRGASBANK», according to the results of the first quarter of this year, headed the rank of banks in terms of funds attracted from legal entities.
During the period under review, the banking institution has continued to strengthen its market position and currently serves about 1.5 million clients. The client portfolio is diversified by customer category, programes, sectors of the economy and regions. The JSB «UKRGASBANK» has a developed network of branches that cover all areas, and in the period under review it continued to increase the number of branches - the number of active branches at the current time is 248. As of 01.04.2019, the regulatory capital amounted to UAH 6.4 billion, net assets and balance capital - was UAH 89.7 billion and UAH 5.9 billion respectively. The activity of the Bank in the analyzed period was profitable, and indicators of efficiency of the main activity are high. The net profit of JSB «UKRGASBANK» in 2018 amounted to UAH 766.1 million, which exceeded the indicator in 2017 by 23%. In the first quarter of 2019, the net profit of the institution amounted to UAH 54.3 million. Comparatively inexpensive resource base has a positive effect on the result of operational activity - the net operating income from the main activity in the last year and in January-March of this year amounted respectively UAH 3.9 billion and UAH 1.1 billion, which is the largest indicator in the last few years.
The affirming of the credit rating is due to the long-term improvement of market positions. and diversification of activities through attracting of new customers, high capitalization and liquidity ratios, acceptable performance indicators of the core activity, as well as the support by the State. At the same time, the Rating Agency takes into account preservation of the concentration of the loan portfolio by major borrowers and preservation of the difficult situation in the economy limits the financial capacity of the population and enterprises of the real sector, adversely affecting the level of confidence in banks.
In order to conduct the analytical research the materials provided by JSB «UKRGASBANK» have been used, including: annual financial statements for 2016-2018 and 3 months of 2019, target performance indicators, 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
JSB «UKRGASBANK» has been operating in the banking market since January 1999. Since 2009, the key owner of the institution has been the State, which is represented by the Ministry of Finance of Ukraine (almost 95% of the shares). According to the results of January-March 2019 among 77 banks JSB «UKRGASBANK» ranked 4th position by size of assets; 6th - by size of funds of population, 9th - in terms of balance capital and the 19th - by amount of generated profit, respectively. It should be noted that due to the active development of various banking products and active cooperation with the corporate sector, JSB «UKRGASBANK», according to the results of the first quarter of this year, headed the rank of banks in terms of funds attracted from legal entities.
During the period under review, the banking institution has continued to strengthen its market position and currently serves about 1.5 million clients. The client portfolio is diversified by customer category, programes, sectors of the economy and regions. The JSB «UKRGASBANK» has a developed network of branches that cover all areas, and in the period under review it continued to increase the number of branches - the number of active branches at the current time is 248. As of 01.04.2019, the regulatory capital amounted to UAH 6.4 billion, net assets and balance capital - was UAH 89.7 billion and UAH 5.9 billion respectively. The activity of the Bank in the analyzed period was profitable, and indicators of efficiency of the main activity are high. The net profit of JSB «UKRGASBANK» in 2018 amounted to UAH 766.1 million, which exceeded the indicator in 2017 by 23%. In the first quarter of 2019, the net profit of the institution amounted to UAH 54.3 million. Comparatively inexpensive resource base has a positive effect on the result of operational activity - the net operating income from the main activity in the last year and in January-March of this year amounted respectively UAH 3.9 billion and UAH 1.1 billion, which is the largest indicator in the last few years.
The affirming of the credit rating is due to the long-term improvement of market positions. and diversification of activities through attracting of new customers, high capitalization and liquidity ratios, acceptable performance indicators of the core activity, as well as the support by the State. At the same time, the Rating Agency takes into account preservation of the concentration of the loan portfolio by major borrowers and preservation of the difficult situation in the economy limits the financial capacity of the population and enterprises of the real sector, adversely affecting the level of confidence in banks.
In order to conduct the analytical research the materials provided by JSB «UKRGASBANK» have been used, including: annual financial statements for 2016-2018 and 3 months of 2019, target performance indicators, 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