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

IBI-Rating has affirmed the credit rating of JSC «FIRST INVESTMENT BANK» at uaBBB+ grade with the «stable» outlook. The rating of bank deposit reliability has affirmed at the «4+» grade (high reliability).

The affirmation of the ratings grade of JSC «FIRST INVESTMENT BANK» is due to the preservation of sufficient indicators of the bank's capitalization, acceptable indicators of liquidity as well as profitable activities and acceptable performance indicators. In turn, the Rating Agency notes concentration of active and passive operations in the context of the main counterparties of the bank, as well as the persistence of a difficult situation in the economy, which limits the financial capacity of the population and enterprises of the real sector and adversely affects the level of confidence in banking institutions.

JOINT STOCK COMPANY «FIRST INVESTMENT BANK» was registered by the National Bank of Ukraine on 20 of June 1997. The main shareholder of the bank is a non-resident individual Giner Evgeny Lennorovich. As of the beginning of April this year, the bank ranked 52th in terms of assets among 84 banking institutions of Ukraine; 47th position - by the size of the funds raised from the population; 40th - on the volume of corporate clients funds; 55th - by the size of balance capital and 23th - by the amount of profit received. The regional network is represented by 32 branches in 11 oblasts of Ukraine. The client base includes more than 13 thousand customers, inclusive of 11.3 thousand individuals. The net income of JSC «FIRST INVESTMENT BANK» for the previous year and first quarter of 2018 amounted to UAH 1.1 million and UAH 31.1 million, respectively. Taking into account the relatively stable dynamics of net operating income against the background of an acceptable level of administrative expenses, as well as by obtaining additional revenues from revaluation of assets, the maintenance of the indicator of the efficiency of activity is observed at a high level - more than 170% for the results of January-March 2018.

In order to conduct the analytical research the materials provided by JSC «FIRST INVESTMENT BANK» have been used, including: financial statements for 2015-2017 and 3 months of 2018, other necessary internal information, as well as the information from the public sources, which the Rating agency considers credible.

Financial department
For additional information please contact:
Press office of IBI-Rating
(044) 362-90-84