OREANDA-NEWS  On 15 September Credit-Rating, a nationally recognized credit rating agency in Ukraine announced that it assigned a long-term credit rating of uaAA to Kiev-based Universal Bank OJSC (`bank`). In the course of analysis Credit-Rating considered bank`s financial statements for 2004-2007 and 1H2008 as well as its other inside information.

An obligor or a debt liability with uaAA credit rating is characterized with the VERY STRONG creditworthiness as compared to other Ukrainian obligors or debt liabilities.

Factors maintaining the credit rating

The bank may get necessary backing in case of need from its principal shareholder, Swiss-domiciled EFG Group.

The bank enjoys sufficient capitalization and has access to cheap resources, which empowers it to maintain good competitive positions in the market.

Good diversification of the bank`s customer loan portfolio.

The bank operates wide-spread branch network and its card segment has been vigorously developing, which contributes to growth in bank`s clientele and the business.

Factors constraining the credit rating

Bank`s low profitability indicators and aggravated revenue structure.

The bank is aggressively expanding its loan operations, which may negatively affect future assets quality.