OREANDA-NEWS. November 29, 2011. According to the results of the eleven months of 2011, the rating agency “Expert Rating” confirmed the credit rating of the PJSC “Kreditprombank” at the uaBBB level on national scaleб reported the press-centre of Kreditprombank.

As noted in rating report, as at 01.10.2011 the assets of Kreditprombank amounted to UAH 13.2 billion. In the meantime, the Bank’s credit portfolio in third quarter of current year increased by 1.63% as compared to the similar period of 2010 and reached UAH 12.1 billion. Thus, experts say that the bank managed to refract the trend of reduction of loan volume indicated in the second and in the first quarters of the current year.

At that, the ratio of provisions for depreciation of loans to the total loan portfolio made 19.7% that exceeds the average market indicator (19.04%). The fact that the credit portfolio is objectively assessed and accurately covered by provisions insures the bank against unexpected losses and its customers from the risks in cooperation with the bank. In addition, it provides an opportunity to Kreditprombank to plan accurately and expand consistently its presence in markets of deposit and active operations.

The volume of bank liabilities as of 01.10.2011 made UAH 12.1 billion that is by 0.86% (or by UAH 103.2 million) more than on the similar date in 2010. Experts note that change of resource base of the bank had differently directed dynamics. Thus, funds raised by the bank at legal entities increased with the highest rates — by 26.67% (UAH 456.4 million).

Also, it was continued the tendency of increase of funds portfolio of natural persons by the bank, the growth rate of which made 25.95% that corresponds to UAH 1.1 billion. At that, the volume of liabilities of Kreditprombank to other banks in comparison with the similar period in 2010 reduced by 30.72% (or UAH 826.7 million). Thus, as of 01.10.2011 funds of natural persons make the biggest specific weight in the structure of the bank’s liabilities – 43.76%, funds of legal entities make 17.86%, liabilities to other banks make 15.36%.

Experts predict that in the near future we should expect a significant improvement of capital ratio of Kreditprombank to its assets due to resolution on additional capitalization of financial institution adopted by the bank’s shareholders. Thus, in late September of 2011 during the Extraordinary General Meeting of Shareholders it was adopted the results of additional issue of shares in the amount of UAH 797.604 million. The charter capital of Kreditprombank after the registration procedure will make more than UAH 2.6 billion, while as of 01.10.2011 its size was equal to UAH 1.8 billion. Successful completion of debt restructuring before the pool of international lenders will determine the improvement of the bank’s credit rating, experts stress.

In general, the agency estimates positively the current financial condition and prospects of development of Kreditprombank and notes the resumption of the bank’s lending activity, as well as positive dynamics of increase of its resource base. Inflow of funds to charter capital will significantly increase the level of solvency of the bank in the short term, analysts say.