1 December 2011, Thursday
Credit-Rating agency upgrades the ratings assigned to FUIB with stable outlook.
Credit-Rating agency upgraded the ratings assigned to PJSC “FUIB”: Long-term Credit Rating from uaА to uaАА- with stable outlook; Bank Deposit Rating, to 5 (highest deposit strength). The rating action was implemented on the basis of the FUIB’s financial statements for 2009-2010 and 1H2011 and other data provided by the Bank for rating purposes.
According to the applied rating scale the borrower or debt instrument with assigned uaAA Credit Rating is characterised by the highest creditworthiness against other Ukrainian borrowers or debt instruments. Plus (+) and Minus (-) signs indicate rating subcategories in the main grades.
Stable outlook indicates that at present there are no anticipated rating downgrade reasons.
Bank Deposit Rating grade 5 (highest deposit strength) indicates that the bank is strong with minor vulnerability to negative commercial, financial and economic factors. Probability of deposit repayment delays is extremely low.
Credit Strengths:
- loan portfolio diversification by major borrowers and business activities;
- adequate capital and liquidity;
- diversified funding by sources and major creditors;
- well-balanced asset/liability maturities;
- adequate performance indicators;
- nationwide branch network and robust card business securing customer retention and the Bank’s competitive positions.
“The rating upgrade reflects the result delivered through the management’s consistent efforts aimed at enhancement of the Bank’s balance sheet structure, further asset and liability diversification, high profitability and capitalisation”, said Konstantin Vaysman, Chairman of the FUIB’s Management Board.
