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The uaAA credit rating of JSC “PIRAEUS BANK ICB” was confirmed by Standard-Rating RA
07 August 2020

Piraeus Bank has received a long-term credit rating uaAA on the national scale according to the results of Standard-Rating RA assessment. The decision to update the credit rating of PIRAEUS BANK ICB JSC was made according to the analysis of the Bank's results for the first quarter of 2020, as well as the data of the Bank's statistical reporting for January-May 2020.

According to Standard-Rating RA, the rating uaAA shows a high level of a bank’s credibility compared with other borrowers or debt instruments

During the first quarter of 2020, the bank’s assets increased to 3,294 bln UAH, and in particular clients loans increased by 4,80% to 1,379 445 bln UAH. Liabilities have exceeded 2,658 bln UAH, mainly due to an increase in deposits of individuals and legal entities by 17.01% and 12.22%, respectively.

Thus, following the results of the first quarter of 2020, Pirseus Bank increased the scale of its activity, demonstrating the growth of assets, and liabilities . In addition, the Agency reminds that the business strategy of Piraeus Bank is focused on expanding lending to small and medium enterprises (SMEs), which is facilitated by the Bank's cooperation with the European Bank for Reconstruction and Development (EBRD).

JSC “PIRAEUS BANK ICB” maintained at a high level the indicators of capital ratios (NH1, NH2 and NH3) and liquidity ratios (NH6, LCRs and LCRs). Relevant factors, as well as the fact that JSC “PIRAEUS BANK ICB” is a bank of Piraeus Bank Group, one of the largest European systemic banks, allowed the Agency to update the credit rating of “PIRAEUS BANK ICB” Joint Stock Company at such a high level..

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