Piraeus Bank has been assigned the highest deposit rating by Credit-Rating Agency

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Piraeus Bank has been assigned the highest deposit rating by Credit-Rating Agency

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Piraeus Bank has been assigned the highest deposit rating by Credit-Rating Agency

02 July 2016

Rating Committee of the national rating agency «Credit-rating» updated and confirmed the current long-term credit rating of Piraeus Bank in Ukraine at the level of «uaA» with the forecast «stable». This long-term rating belongs to the group of investment ratings, that is one of the highest ratings given to banks operating on the Ukrainian market. In turn, the highest rating of deposits reliability (score «5») of Piraeus Bank, that shows the bank's capacity to make payments on actual deposits timely and in full.

«High creditability and the highest estimation of deposits reliability, confirmed by the rating, designates Piraeus Bank as reliable stable partner for his clients. Additional guarantee of confidence is the Bank membership in international financial group and successful many years` experience in Ukraine», Piraeus Bank CEO S. Naumov highlighted.

«The key factor for rating confirmation has become good payment discipline of the Bank stemming from large volume of liquid assets. As for June 1, 2016 high liquid assets exceeded clients deposits 1,5 times», the Head of banks rating unit of agency «Credit-rating» G.Vinnik commented.

Note:

Founded in 2001 Credit-Rating is the first rating agency in Ukraine committed to assessment of issuer's solvency and to assignment of credit ratings pursuant to the National rating scale. Since 2003 the agency's rating estimations have been officially recognized by Ministry of Finance of Ukraine. Since 2004 Credit-Rating has been an authorized agency of State Commission for Securities and Stock Market for assigning ratings to economic entities, to industries and municipalities. In 2010 the agency became a member-founder of European Association of Credit Rating Agencies (EACRA).