The rating agency "Standard-Rating" confirmed the long-term credit rating of PRAVEX BANK at the level of uaAAA on the national scale. This confirms the highest creditworthiness compared to other Ukrainian borrowers or debt instruments.
When making a decision, the rating committee took into account the results of the Bank's work for 2023, as well as data from statistical reporting for 2023 and the period January-February 2024. In 2023, compared to 2022, the assets of PRAVEX BANK grew to the level of UAH 10.963 billion, cash and cash equivalents increased to UAH 3.419 billion, and investments in securities increased by 38.06%.
Therefore, during 2023, PRAVEX BANK increased its funding base from customers, keep a high liquidity level. In particular, the Bank placed free liquidity into NBU certificates of deposit, OVDP, and highly liquid government securities of other countries, which provided the Bank with stable risk-free interest income.
As of the beginning of March 2024, PRAVEX BANK was well provided with liquidity, as evidenced by the high values of the Bank's relevant standards (NSFR, LCRvv, and LCRs), which exceeded the limit values set by the NBU by a significant margin.
The relevant factors, as well as the high level of external support from the sole shareholder of the Bank - the international banking group Intesa Sanpaolo Group - allowed the Agency to update the credit rating of JSC "PRAVEX BANK" at such a high level. The level of external support, solvency margin, and liquidity of the Bank allows it to confidently pass the period of exacerbation of the group of systematic risks during martial law.
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