Ukrainian RA IBI-Rating has upgraded the credit rating of Credit Dnipro Bank to uaAA + "stable"

17 November 2021

The Ukrainian RA IBI-Rating has announced an increase in the credit rating of Credit Dnipro Bank to uaAA grade + "stable" outlook. As noted in the release of IBI-Rating, the increase in the credit rating of Credit Dnipro Bank is due to performance indicators and their improvement, profitable activities of the institution for 9 months of 2021, improved capitalization indicators, acceptable diversification of the resource base, growth of a working loan portfolio, markets, maintaining the volume of reserves at a sufficient level, as well as the availability of financial support from the new shareholder of the banking institution.

“From August 2020 to November 2021, the Bank's credit rating was increased three times - with each update: from uaA“ in development ”to uaAA + with a“ stable ”forecast. The high level of the uaAA + rating is the result of those transformations that started last year and continue to be implemented now - from digital re-equipment, restructuring of business processes to the implementation of system solutions and changes at the level of customer service, "commented Sergey Panov, Chairman of the Bank's Management Board Credit Dnipro.

Also, the results of stress testing in 2021 confirmed the high level of the Bank's financial stability and the proper level of capital stock. Taking into account the financial support of the bank from the shareholder Alexander Yaroslavsky, the bank, based on the results of stress testing, does not require additional capital either in the baseline or in the unfavorable scenario.

As a reminder, Credit Dnipro Bank showed a profit of UAH 723 million based on the results of operations for three quarters of 2021, while net interest income amounted to UAH 556 million, which is 91% more than in the same period in 2020. Net fee and commission income increased by 33% compared to the same period in 2020 and amounted to UAH 109 million.

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, 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 01.10.2021, the bank's assets amounted to UAH 16,200 million. UAH million, authorized capital - UAH 3,587 million.

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