The reputable business weekly "Expert Ukraine" has published the rating of the 75 safest banks in Ukraine. Piraeus Bank in Ukraine took the 17th place among the most trusted banks in the country.
The level of reliability of the bank was described as "acceptable" ( rating B by alphabetical rating scale, the final integral index 362.20), which means the bank's ability to cope independently with the negative factors that may arise in the short term. Banks’ reliability rating is calculated by analysts of “Expert” magazine for the eighth time. The integral indicator of reliability was calculated taking into account 16 factors that characterize the capital adequacy, assets’ quality and structure, performance and profitability.
"The bank's reliability refers to the ability of a financial institution to resist the unfavorable factors. The reliability and the probability of default are not the identical concepts, - Andrei Blinov, editor in chief of the journal "Expert Ukraine", said. – The bank that has a high level of reliability (resistance), may face a strong influence of negative and unpredictable factors that can lead to bankruptcy, while the financial institution with a satisfactory rating will continue to work as a result of a confluence of circumstances that would help to avoid the negative impact of these factors."
Vyacheslav Koval, Piraeus Bank in Ukraine Acting Chairman of the Board: "Stable financial growth, a constant increase in the resource base and operating efficiency allow us to provide our depositors a significant level of reliability of placing funds on deposits in the Bank"
"We believe that the high place of Piraeus Bank in the banks’ reliability rating made by "Expert" magazine is an important confirmation of the correctness of our strategy. Stable financial growth, a constant increase in the resource base and operating efficiency allow us to provide our depositors a significant level of reliability of placing funds on deposits in the Bank, together with an attractive level of profitability, - Vyacheslav Koval, acting Chairman of Board of Piraeus Bank in Ukraine, said. - Consistent reliability of Piraeus Bank confirmed by the rating agencies, analysts and business publications displays caution and measured approach that bank applies at its active operations, as well as the orientation of the bank to perform its obligations to depositors."
Piraeus Bank maintains the highest level of deposits’ reliability (grade "5") from an independent rating agency "Credit-Rating" since its assignment in February 2009 (last update took place on 29.03.2013). In December 2012, Ukrainian Credit Rating Agency (UCRA) and Finance.ua portal assigned Piraeus Bank the deposit rate B4, indicating a high reliability of the bank and the average market return on deposits (in UAH, USD and Euro).
Note. Piraeus Bank Group is one of the major banking institutions of Southern and Eastern Europe. Piraeus Group's pro-forma total assets amount to €98 bn, net loans €64 bn and customer deposits €52 bn (pro-forma data 31/12/12). Piraeus Bank entered the Ukrainian market in 2007. Total assets of Piraeus Bank in Ukraine amount to UAH 3.1 bln and regulatory capital to UAH 910 mln as of Q4 2012.
Piraeus Bank has the highest rating of deposits reliability provided by "Credit-Rating" Agency (grade "5"as of latest rating of 25.12.2012).
The Bank is authorized by the Pension Fund of Ukraine to make payments of pensions and financial assistance. The Bank is a member of Fund of Guaranteeing the Deposits of Individuals and Forum of Leading International Financial institutions (FLIFI).
Piraeus Bank in Ukraine Press Service