“Expert-Rating” Confirmed Ukrgasbank Rating at uaA+
Rating Agency “Expert-Rating” made a decision to confirm Ukrgasbank credit rating at uaA+. A borrower with uaA+ rating is characterized by high creditability in comparison with other Ukrainian borrowers.
As stated in the official press-release, the agency took into account the main results of the Bank operation for 1H2013. “Expert-Rating” noted that there were some significant changes in the balance sheet figures. Since the beginning of the year, shareholders’ equity of Ukrgasbank has increased by 14.02%, and liabilities have decreased by 3.51%, loans and amounts due from customers (before impairment provisions) have decreased by 5.72%. There were also some changes in the Bank funding base. Thus, according to “Expert-Rating”, amounts due to banks have decreased by 25.95%, at the same time there was an increase in the amounts due to retail customers by 2.33% and due to corporate customers by 58.5% for the first six months of 2013.
The agency positively evaluates the growth of the Bank shareholders’ equity on the background of a decrease in liabilities and lesser dependency of the Bank funding base from the interbank market.
Rating Agency “Expert-Rating” also pays attention to the fact that Ukrgasbank has started the second half of 2013 with an increasing shareholders’ equity, strong regulatory capital adequacy and liquidity. In the first half of 2013, Ukrgasbank earned a record net profit of UAH 528.167 million.
A credit rating is a universal tool for bank assessment that provides a possibility to potential investors, partners and customers to determine creditability of a financial institution without disclosing confidential information.