IBI-Rating upgrades Credit Dnipro Bank's credit rating to uaA +
05 August 2020
IBI-Rating upgraded the credit rating of Credit Dnipro Bank on a national scale to "uaA +" with a forecast "in development", and also confirmed the rating of reliability of bank deposits at "4+" (high reliability).
Experts consider the improvement of liquidity and capitalization indicators to be the key factors influencing the strengthening of the financial institution's position; acceptable diversification of the resource base; developed regional network and card business, which helps to increase the customer base and strengthen its position in the banking market; improving performance indicators.
"The main performance indicators of JSC" Bank Credit Dnipro "have a positive trend compared to previous years, - said in a report by the rating agency. - In particular, the bank's net operating income for the first quarter of 2020 is over UAH 140 million (UAH 220 million for the first 5 months of the current year). The process of current and future capitalization against the background of the reduction of non-working assets should contribute to further improvement of the bank's efficiency indicators in the near future. "
Commenting on the confirmation of the reliability rating of bank deposits at the level of "4+" (high reliability), analysts of IBI-Rating noted that the financial institution timely and fully fulfills its obligations to creditors. Due to the increase in capital there is a further improvement of liquidity ratios and an increase in the highly liquid component of the balance sheet.
"The high rating of the reputable rating agency and another rating increase indicate the ability of Credit Dnipro Bank to provide the highest quality banking services and the potential for further strengthening of positions in the country's financial market," said Serhiy Panov, Chairman of the Board of Credit Dnipro Bank. "The bank's recent addition to the powerful DCH group, the ambitious plans of the shareholder and the renewed team to bring the financial institution to a qualitatively new level create good conditions for further dynamic development, business efficiency and improved ratings."
To update the ratings of Credit Dnipro Bank, the financial performance of the financial institution for 2017-2019 and 5 months of 2020 was used, as well as performance indicators, internal information and information from open sources.