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Piraeus Bank entered TOP-3 banks with the most reliable deposits
29 March 2019

Rating agency “Standart Raiting” (Ukraine) conducted “Rating of banking deposits reliable”, according to which PJSC "Piraeus Bank ICB" entered TOP-3 banks with the highest-level reliability of deposits - rd.1 (pi) for 2018 year.

Piraeus Bank was raised from the fifth to the third position in comparison with the rating for 2017. As it was noted by Standard-Rating agency, a whole list of positive factors allowed the bank to improve its position in the rating. According to the NBU, Piraeus Bank received a net profit of UAH 51.448 mio (in 2018), the volume of non-performing loan (NPL) decreased by 75.78%, the part of NPL in the loan portfolio amounted to 5,96% as of 01.01.2019. Net interest income of Piraeus Bank in 2018 exceeded UAH 220.561 mio, which is 27.53% more than in 2017.

In deposit ratings "Standard Rating" RA used approaches of the classical CAMEL model already adapted to Ukraine. During the assessment the agency examined definite groups of factors and their impact on the reliability of deposits. The following factors were taken into consideration: a bank’s capital, loan portfolio quality, liquidity, profitability of operations, the scale of operations, shareholders' support and deposit programs quality.

Despite complicated situation in the banking sector, Piraeus Bank strengthened confidently its positions on Ukrainian market during the last 10 years.