RA IBI-Rating reaffirms credit rating of uaAA to Credit Dnipro Bank and improves rating outlook to “positive”

02 June 2021

The Ukrainian RA IBI-Rating has announced the affirmation of the credit rating of Credit Dnipro Bank at uaAA grade with the change of the rating outlook from "in development" to "positive".

As noted in the release of IBI-Rating http://ibi.com.ua/UK/press-release/ibi-rating-pokrashhilo-prognoz-rejtin... -dnipro-na-rivni-uaaa.html, the improvement of the outlook for the credit rating of Credit Dnipro Bank to "positive" is due to the growth of performance indicators, liquidity and capitalization, positive dynamics of development of retail lending and corporate lending, acceptable diversification of the resource base, gradual reduction of non-working assets, increased activity in financial markets, a decrease in the concentration of the loan portfolio by major borrowers, as well as the availability of financial support from a shareholder of a banking institution.

“The performance indicators of our activities are a consequence of the sustainable and active development of the bank. So, based on the results of work in the 1st quarter of 2021, we demonstrated a profit of UAH 196 million, which was achieved, among other things, due to an increase in net interest income, which amounted to UAH 158 million as of 01.04.2021. ... At the same time, as of 01.05.21, the bank's profit amounted to UAH 389 million, and net interest income - UAH 216 million, - said Sergey Panov, Chairman of the Board of Credit Dnepr Bank.

For the analytical study, materials received from Credit Dnepr Bank were used, including: financial statements for 2018-2020. and 3 months of 2021, planned performance indicators, other necessary internal information, as well as information from open sources that the Rating Agency considers reliable.

Credit Dnipro Bank is a Ukrainian commercial bank, beneficiary - Alexander Yaroslavsky, Ukrainian businessman (TOP-10 Forbes Ukraine 2020), owner of DCH group (www.dch.com.ua), which unites assets of such sectors of the economy as finance, industry, transport , construction and development, etc. The bank is included in the TOP-20 financial institutions of Ukraine in terms of gross assets and, in accordance with the classification of the National Bank of Ukraine, is in the group of banks with private capital. As of May 1, 2021, the bank's assets amounted to UAH 14,245 million, authorized capital - UAH 3,587 million. The bank's loan portfolio as of 05/01/21 amounted to UAH 3,603 million, the portfolio of customer funds - UAH 9,805 million.

 

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