IBI-Rating has upgraded the credit rating of «ALPARI BANK» JSC to uaBBB+ grade

IBI-Rating informs on the upgrading of the credit rating of «ALPARI BANK» JSC to uaBBB+ grade, with a «stable» rating outlook. Also, was affirmed the rating of bank deposit reliability of «ALPARI BANK» JSC at grade «4» (high reliability).

Upgrading of the credit rating of «ALPARI BANK» JSC is due to the expected increase in authorized capital and the scope of activity, high liquidity and acceptable performance indicators. In turn, the Rating agency notes limited sources of operating income, weak market positions and a small client base, which causes the concentration of the loan portfolio and liabilities in the context of the main counterparties. Also, the rating of a banking institution is affected by the persistence of a difficult situation in the economy, which limits the financial capacity of the population and enterprises of the real sector and negatively affects the level of confidence in banking institutions.

«ALPARI BANK» JSC has been working in the financial market since October 2012 and currently belongs to a group of banks with private capital. The only shareholder of the Bank is Mr Bakhtari Hedayat-Allah Musa. Taking into account the structure of the Bank's resource base, and the prevalence of its own funds in it, performance indicators remain at a sufficient level. At the same time, taking into account the increase in administrative expenses (including marketing, advertising, audit), the activity of the institution in 2017 was unprofitable - the negative financial result for this period was amounted to UAH 2.6 mln. In turn, in the first quarter of 2018 the bank worked with a small profit (UAH 101 thousand ).

In order to conduct the analytical research, the materials provided by «ALPARI BANK» PJSC have been used, including: the annual financial statements for 2015-2017 and 3 months of 2018, planned performance indicators, 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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