IBI-Rating has affirmed the credit rating of PJSC «Bank 3/4» at uaA– grade with a «stable» outlook

IBI-Rating informs on affirming of the credit rating of PJSC «Bank 3/4» at uaA– grade, with a «stable» outlook. The rating of bank deposit reliability has been affirming at «4+» grade (high reliability).

PJSC «Bank 3/4» has been operating in the financial market since 2008 and belongs to a group of banks with private capital in accordance with the criteria for segregation banks to groups. The only one shareholder of the bank is Mr. Ishchenko V.A. (Chairman of the Board). At the end of May 2017 was conducted state registration of the new edition of the Bank's Statute in connection with the increase of the authorized capital to the amount of UAH 403.2 m due to increase of the nominal value of shares. In turn, the regulatory capital of the bank at the beginning of July 2018 amounted to UAH 483.2 m, respectively, the capitalization indicators with a significant margin exceed the minimum required level in accordance with the requirements of the current legislation. The activity of PJSC «BANK 3/4» for the last two years has been profitable in recent years, and performance indicators have been kept at a high level, despite a rather substantial amount of administrative expenses. Thus, according to the results of January-June of current year, the net operating income of the bank amounted to almost UAH 160 m and net profit amounted to UAH 28.6 m (UAH 60 m - for the last year).

Affirming of PJSC «Bank 3/4» credit rating is due to the high ratios of capitalization and liquidity, effectiveness of core activities while maintaining an insignificant level of bad debts in the structure of working assets. At the same time, the Rating Agency notes the preservation of the concentration of the loan portfolio, as well as the resource base in the context of key counterparties. The ratings of the banking institution are also affected by the preservation of the high sensitivity of the banking system to operational risks, due to the volatility of the legislative field, the difficult situation in the economy, as well as the limited financial capacity of the population and enterprises of the real sector.

In order to conduct the analytical research the materials provided by PJSC «Bank 3/4» have been used, including: financial statements based on the results of 2015-2017 years and first half of 2018, 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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