Piraeus Bank ranked 11th among 38 banks in Ukraine in terms of financial health, in a study conducted by the International Center for Policy Studies (ICPS), based on the financials for the 1Q2020.
Piraeus Bank demonstrated one of the best dynamics of financial health indicator improvement, namely +12 positions in 1Q 2020 when compared to the results at the start of the year.
According to the methodology, the rating of the banks was based on the assessment of two sub-indices, robustness and efficiency.
Robustness sub-index is represented by a group of criteria through which the degree of fulfillment of the key economic ratios by the banks was evaluated and thus reflects its ability to withstand internal and external risks.
The efficiency sub-index is a group of criteria that helps to assess a bank’s ability to generate profit and reflects the efficient usage of its assets.
The financial health index characterizes the business model of the bank totally. It is calculated as the sum of the sub-indices of the efficiency and robustness.
The final rating includes banks with the highest values of the financial health index.
On July 21st, 2022, the National Bank of Ukraine introduced changes on the transactions and operations carried out abroad (outside of the territory of Ukraine) on Hryvnia (UAH) cards and accounts. Those new limitations are only related to operations, carried out abroad from UAH cards and accounts, whilst foreign currency cards and accounts have not been impacted from those restrictions. In detail:
UAH12.500 equivalent in foreign currency per 7 days from the first time of withdrawal. The limit is not calculated cumulatively.
UAH80.000 equivalent per calendar month for transactions at POS terminals (physical presence of card or NFC technology on phone), purchases on the internet secured by full 3DSecure* and recurring payments**.
UAH20.000 equivalent per calendar month for the rest type of online transactions.