Stability of the Piraeus Bank is confirmed by the National bank of Ukraine as a result of the planned stress-test of banks conducted within cooperation with the IMF.
As two phases of diagnostics showed, the Piraeus Bank does not require recapitalization. It is evidence of financial stability of the Bank, which fulfills the minimal capital requirements in reporting and forecast periods.
The Piraeus Bank's level of capital adequacy is one of the highest among the Ukrainian banks and sufficient liquidity level allow, even under unfavorable market conditions and theoretic stresses, to fulfill the obligations to the clients.
Also, they represent predictable approach in the policy of effective management in difficult conditions, taking measures under unfavorable economic conditions for capital adequacy ratio and reliable liquidity level.
‘Good results of stress-test confirm the strong position of the Bank on the financial market,’ emphasized the chairman of the board of the Piraeus Bank Sergii Naumov. ‘Index of capital adequacy is one of the most important, because it identifies of necessity of bank's funds to cover credit, operational and market risks. We demonstrate significant capital adequacy and liquidity; therefore we can achieve objective results of business-plan. Shareholders and management of the Bank will follow the compliance of appropriate rate of the indexes for the stability in stressful situations.’