IBI-Rating agency increased the credit rating of Credit Dnepr Bank on a national scale to “uaA” with a forecast of “in development”, and also affirmed the rating of bank deposits at the level of “4+” (high reliability).
According to experts, the key factors influencing the strengthening of the position of the financial institution are the improvement of liquidity and capitalization indicators thanks to the financial support of the shareholder; acceptable diversification of the resource base; gradual reduction in the share of non-working assets; well-developed regional network and card business, which contributes to building a client base and strengthening positions in the banking market; improvement of performance indicators and profitable activities of the bank for the 11 months of 2019.
“The increase in the long-term credit rating of BANK CREDIT DNEPR JSC is due to an improvement in liquidity and capitalization, which was achieved thanks to financial support from the owner of a banking institution as part of the capitalization / restructuring program; positive dynamics in the development of retail lending and lending to customers in the agricultural sector; acceptable diversification of the resource base, as well as a gradual reduction in non-working assets, ”the report of the rating agency said.
Commenting on the confirmation of the rating of the reliability of bank deposits at the level of “4+” (high reliability), IBI-Rating analysts noted that the financial institution timely and fully fulfills its obligations to creditors. Thanks to the measures taken by the shareholder, there is a further improvement in liquidity ratios and an increase in the highly liquid component of assets.
“The high rating of one of the most respected rating agencies indicates the stable position of Credit Dnepr Bank in the country's financial market, its ability to provide top-quality banking services, and timely and fully fulfill obligations to customers and partners,” stressed Credit Dnepr Bank. - Entering profitable activities due to the successful implementation of the business model with an emphasis on integrated financial services to the retail segment and the agricultural sector, systematic work to improve the quality of assets and operational financial results, together with systematic support of the shareholder, create the prerequisites for further strengthening market positions, increasing business efficiency and rating improvements. "
To update the ratings of Credit Dnepr Bank, financial indicators of the financial institution for 2016-2018 and 11 months of 2019 were used, planned performance indicators, internal information and information from open sources.