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Piraeus Bank in Ukraine has received the confirmation of uaA rating with forecast “stable”
06 January 2016

Rating Committee of “Credit Rating” agency decided to update the results of the credit rating of financial institutions. According to the results of renovation credit rating of “Piraeus Bank ICB” as of 17, December, 2015 was set at uaA level, the “stable” forecast.

Within the carried out analysis, the agency used financial statements of Piraeus Bank for the 2013-2014 and 1-3 Q of 2015, as well as internal information provided by the bank during the rating process.

On the assignment of Piraeus Bank in Ukraine's investment rating affects a number of factors, depending on the quality characteristics of the bank. Thus, in the “Credit Rating” agency evaluation the following aspects have been taken into account:

  • support from the main shareholder – one of the largest Greek banks PIRAEUS BANK SA;
  • high liquidity;
  • relatively cheap resource base that allows you to maintain a competitive position in the financial market;
  • acceptable effectiveness of the financial institution.

Stable outlook indicates that there are currently no assumptions for the rating change during the year.

Also, the “Credit-Rating” agency confirmed the reliability level of deposits of financial institutions at a Rating committee meeting. According to the official results the deposit rating of JSC “Piraeus Bank ICB” was confirmed at the level “5” (the highest reliability).

The complete history of the deposit and long-term credit rating of Piraeus Bank is available at the agency's website (available in Ukrainian).