Fitch Ratings has affirmed the ratings of JSC State Savings Bank of Ukraine (Oschadbank) and JSC The State Export-Import Bank of Ukraine (Ukreximbank), including their ‘B-‘ Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) with Stable Outlook, Fitch has said in its press release. “The affirmation of the ratings reflects limited changes to these … Read more
The National Bank of Ukraine (NBU) reported the successful switch of banks in Ukraine to IFRS9 and pointed out the absence of a need in additional capitalization of financial institutions. “Banks have switched to IFRS9. We believe that the transfer was rather successful. Some banks would complete the transfer by the end of the second … Read more
Fitch Ratings has has affirmed five Ukrainian foreign-owned banks’ Long-Term Foreign-Currency Issuer Default Ratings (IDRs) at ‘B-‘ with Stable Outlooks. The banks are: PJSC Credit Agricole Bank (CAB); ProCredit Bank (Ukraine) (PCBU); PJSCCB PRAVEX-BANK (PXB); PJSC Alfa-Bank (AB); and Ukrsotsbank (USB). Simultaneously, Fitch has withdrawn all of USB’s ratings for commercial reasons. “The affirmation of … Read more
The WebMoney electronic payment system has been placed to the sanction list of the National Security and Defense Council (NSDC) of Ukraine. The appendix to the NSDC decision of Ukraine dated May 2, 20018, published on the website of the head of state, includes WM Transfer Ltd. (Lithuania). Sanctions envisage blocking of assets, limiting or … Read more
The nationalized PrivatBank could be ready for the privatization no earlier than 2022, Head of the supervisory board Engin Akcakoca has said. It would be premature to talk about the privatization of PrivatBank in 2020, as the approved strategy of the bank to implement this task is designed for the period until 2022. “The successful … Read more
Fitch Ratings has upgraded the State Export-Import Bank of Ukraine’s (Ukreximbank) $125 million 2023 subordinated loan participation notes (LPNs) issued by Biz Finance Plc to ‘CCC’ from ‘CC’ and removed them from Rating Watch Positive (RWP), Fitch has reported in its press release. According to the document, the upgrade follows the publication of new Fitch’s … Read more
The Fitch international rating agency has noted improvement in the solvency of Ukrainian banks, while noting that some financial institutions need additional capitalization, according to a press release from the rating agency. “At the end of Q1, 2018, most of the largest 25 banks (together representing over 90% of sector assets) were compliant with the … Read more
Fitch Ratings has assigned Biz Finance Plc upcoming hryvnia-denominated eurobond issue an expected Long-Term rating of ‘B-(emr)(EXP)’ and recovery rating of ‘RR4’, reads a report on the rating agency’s website. “Senior unsecured loan participation notes will be issued by Biz Finance Plc, a UK-based special-purpose vehicle. Proceeds from the issuance will be lent by Biz … Read more
The number of bank branches in Ukraine in 2017 decreased by 8% compared to the beginning of the year, to 9,489 offices, according to statistics released by the National Bank of Ukraine (NBU). According to the NBU, the general trend towards the decrease in the number of offices has been maintained since 2012. The rate … Read more
One of the former owners of PrivatBank (Kyiv) – Ihor Kolomoisky – has been extremely outraged with statements of the National Bank of Ukraine (NBU) about systemic frauds in the financial institution before it was nationalized. “Delirium, which there is no point in commenting on,” he told TSN.ua news service on Tuesday. At the same … Read more