Moody’s Investors Service, on June 16 upgraded the ratings and assessments of six Ukrainian banks (as applicable: PrivatBank, Oschadbank, Ukreximbank, Raiffeisen Bank Aval, Pivdenny Bank, JSCB, Sberbank PJSC). Moody’s also revised the outlooks for the ratings of these six banks to stable from positive. The rating action follows Moody’s upgrade of Ukraine’s sovereign debt rating … Read more
Fitch Ratings has revised the outlooks on seven Ukrainian banks to stable from positive and affirmed their Long-Term Issuer Default Ratings (IDRs), the agency said on its website. “The affected banks are: Oschadbank, Ukreximbank, PrivatBank, Ukrgasbank, Credit Agricole Bank, ProCredit Bank, and Pravex-Bank,” it said. “Fitch has also revised the outlook on First Ukrainian International … Read more
State-owned Ukreximbank (Kyiv) is considering a scenario to repurchase its eurobonds from the market with their replacement with cheaper and longer-term resources, chairman of the financial institution Yevhen Metsger has said. “As one of the working scenarios, the repurchase of our eurobonds from the market is considered, the rate at which is about 10% in … Read more
The National Bank of Ukraine (NBU) has settled the possibility for nonresidents to deposit cash in foreign currency into the accounts of customs authorities in an authorized bank or institutions that provide budget treasury services as cash collateral during the transit of goods throughout Ukraine, the NBU said on its website on Friday, April 24. … Read more
The High Court of Justice handed down a public judgment in respect of and pursuant to the Partial Final Awards (the Awards) issued by the Tribunal on June 13, 2019 in the ongoing LCIA arbitration proceedings concerning the PrivatBank eurobonds issued in 2010 and 2013. This decision, which effectively upholds the Awards and the Tribunal’s … Read more
The Individuals’ Deposit Guarantee Fund has put the pool of assets of insolvent VAB Bank (Kyiv) up for auction at the First Financial Network Ukraine (FFN) site, the fund’s website reports. “On January 16, 2020, an auction will be held to sell the pool of assets of VAB Bank, which consists of 113 loans and … Read more
Ukrainian banks have started posting the results of their stress tests conducted by the National Bank of Ukraine (NBU) on their websites. So, the state-owned PrivatBank and Ukrgasbank, as well as UkrSibbank, OTP Bank, Credit Agricole Bank, ProCredit Bank and Kredobank did not need additional capital according to the results of stress tests. The estimated … Read more
Fitch Ratings has affirmed the Long-Term Issuer Default Ratings (IDRs) of PrivatBank, Oschadbank, Ukreximbank and Ukrgasbank at ‘B’, with positive outlooks, the rating agency said on its website. “At the same time, Fitch has upgraded PrivatBank’s Viability Rating (VR) to ‘b’ from ‘b-‘, affirmed the ‘b-‘ VRs of the other three state-owned banks and removed … Read more
The sixth administrative court of appeals has created a panel of judges for hearing a counterclaim of the National Bank of Ukraine (NBU), the Cabinet of Ministers of Ukraine and PrivatBank seeking to abolish the ruling of Kyiv’s district administrative court on the nationalization of PrivatBank, the NBU told reporters on Wednesday. According to the … Read more
Solvent Ukrainian banks in January-August 2019 received UAH 44.29 billion in net profit, which is 3.2 times more than in the same period in 2018, the National Bank of Ukraine (NBU) has said. “More than half (58.3%) of this result was provided by the activities of state-owned PrivatBank,” the central bank said on its website. … Read more