IBI-Rating has affirmed the credit rating of JSC «FIRST INVESTMENT BANK» at uaAA grade

IBI-Rating informs on affirming of the credit rating of JSC «FIRST INVESTMENT BANK» at uaAA grade with a «stable» outlook. The rating of bank deposit reliability has affirmed at the «5» grade (excellent reliability).

JOINT STOCK COMPANY «FIRST INVESTMENT BANK» was registered by the National Bank of Ukraine on 20th of June 1997. The main shareholder of the bank is a non-resident individual Giner Evgeny Lennorovich. According to the results of 2019, the bank ranked 44th place in terms of assets among 75 banking institutions of Ukraine; 46th position – by the size of balance capital; 56th - by the size of the funds raised from the individuals; 31st - by the amount of corporate clients funds and by the amount of profit received. The regional network is represented by the Head Office and 34 branches in 11 oblasts of Ukraine. The largest number of branches is located in Kyiv (12) and Odesa (7) oblast.

During the last few years, the bank's activity has remained profitable - the net profit of JSC «FIRST INVESTMENT BANK» by 2019 amounted to UAH 56.6 million (UAH 59.8 million for 2018). Taking into account the relatively stable dynamics of net operating income against the backdrop of an acceptable level of administrative expenses, the value of the efficiency ratio of the banking institution remains at a high level - more than 160% as of 2019.

The affirming of the credit rating of JSC «FIRST INVESTMENT BANK» is due to financial support from the owners, including through reinvestment of profits of previous years; high capitalization and liquidity indicators (as of early 2020, nearly 70% of total assets were formed by highly liquid assets - mostly in the form of investments in NBU deposit certificates). Additionally, the Rating Agency notes a sufficient balance of assets and liabilities by maturity, profitable activity over the last few years, high performance and acceptable quality of working assets. In turn, the Rating Agency notes preservation concentration of active and passive operations in the context of the main counterparties of the bank, as well as the high sensitivity of the banking system to operational risks due to the volatility of the legislative field, the difficult situation in the economy, which limited financial capacity of the population and enterprises of the real sector.

In order to conduct the analytical research the materials provided by JSC «FIRST INVESTMENT BANK» have been used, including: financial statements for 2017-2019, other necessary internal information, as well as the information from the public sources, which the Rating agency considers credible.

Financial department
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