OREANDA-NEWS. November 20, 2012. By results of the 3rd quarter the rating agency "Expert Rating" confirmed the credit rating of PJSC "Kreditprombank" at the level uaA- according to the national scale. The bank with such rating is considered to have high creditworthiness, reported the press-centre of Kreditprombank. 

This year the work of Kreditprombank remained to be profitable, note the analysts. Thus, by results of 9 months of 2012 the bank received the profit in amount of UAH 2.9 MIL. Net interest income amounted to UAH 182.3 MIL, net fee and commission income reached UAH 85.2 MIL, that is by 9.75% more than by results of the third quarter of the previous year. The ratio of the net fee and commission income to the net interest income increased by 22.31 p.p. and by results of 9 months of 2012 reached the mark in 47%, which influenced positively the level of diversification of key sources of the bank’s income.

As the rating report notes, in 3Q of 2012 Kreditprombank retained the moderate dynamics of growth. For nine months of this year the assets of the bank increased by 0.44%, or by UAH 54.7 MIL, and as of 01.10.2012 amounted to UAH 12.6 BIL, volume of liabilities increased by 0.53%, or by UAH 54.7 MIL, reaching UAH 10.4 BIL. Loan portfolio of the bank amounted to UAH 10.4 BIL. At the same time Kreditprombank increased volumes of operations with securities, the portfolio of which in comparison with the beginning of 2012 increased by 14.24%, or by UAH 98.4 MIL and amounted to UAH 790 MIL, that complied with the trends in the financial sector of the country.

In the third quarter of this year Kreditprombank continued to increase the resource base at the expense of attraction of funds at deposit market. The highest rate of growth still demonstrated the funds of legal entities, the volume of which since the beginning of the year increased by 9.64%, or by UAH 163.5 MIL, and as of 01.10.2012 reached the mark in UAH 1.9 BIL. At the same time the analysts draw attention to the fact that the aggregated volume of funds raised by the Ukrainian banks from the economic entities during the analyzed period reduced by 2.73%. The funds raised by the bank from individuals in the period from 01.01.2012 tо 01.10.2012 increased up to UAH 5.3 BIL. Totally "Expert Rating" positively assessed the changes that had place in the structure of the resource base of the bank, noting at the same time that it has reduced its dependence from the market of interbank loans.

The standard ratio of the capital of Kreditprombank, taking into account the scales of its work, proves the admissible level of capitalization. Thus, as of 01.10.2012 the equity of the bank amounted to UAH 2.1 BIL, the standard ratio of the adequacy of regulatory capital of the Bank (N2) was set at the level of 12.61% (while the required figure is at least 10%), and the ratio of regulatory capital to aggregated assets (N3) was at the level of 10.11% (the standard ratio is at least 9%). The reduction of the mentioned indicators was the result of the process of increase of the efficiency of the use by the bank of own equity, underline the experts. 

The ratio of liquidity of Kreditprombank still exceeds the set by NBU minimal figures. Thus, as of 01.10.2012 the ratio of instant liquidity (N4) made 43.18% (while the required figure is at least 20%), ratio of current liquidity (N5) was at the level of 75.87%, while the limit indicator is 40%, and the ratio of short-term liquidity (N6) amounted to 67.15% (while the required level is at least 60%).

Therefore, the analysis of key performance indicators of Kreditprombank by results of 9 months of 2012 proves the positive trends in its development, note the experts. The Bank continues to increase steadily the resource base, increase volumes of asset operations and produce profit. The indicators of the capital sufficiency and liquidity of the Bank are at the adequate level, which allows it to fulfill timely the liabilities undertaken, stresses the report.