On April 01, 2019, by the decision of the rating committee of the Rating Agency "Standard-Rating", the long-term credit rating of Joint-Stock Company «Commercial Industrial Bank» on the national scale was updated at the level of uaAA. A bank or a separate debt instrument with a rating of uaAA is characterized by very high creditworthiness compared to other Ukrainian borrowers or debt instruments. The decision to update the credit rating of Joint-Stock Company «Commercial Industrial Bank» was made in accordance with the results of the analysis of the Bank's work for 12 months of 2018.
Based on the results of 2018, the key balance sheet indicators of Joint-Stock Company «Commercial Industrial Bank» demonstrated good growth rates, in particular:
assets grew by 60.88%; the volume of loans and clients' debt grew by 98.43%; liabilities increased by 84.89%; equity grew by 7.36%.
During 2018, the Bank successfully grew the resource base. Thus, during the period from 01.01.2018 to 01.01.2019, the volume of funds of legal entities grew twice (from UAH 222.558 million to UAH 447.699 million), and funds of individuals increased by 74.05% (from UAH 239.280 million to UAH 416.461 million). The specified dynamics was correspondingly reflected on the structure of the Bank's resource base, in which the share of funds of legal entities grew by 8.11 p.p. and as of 01.01.2019 amounted to 40.49%, and the share of funds of individuals increased by 2.85 p.p. and amounted to 37.66%.
In 2018, JSC «CIB» demonstrated a high level of business activity, growing the volume of the resource base and loan portfolio, which, in turn, was positively reflected on the indicators of its revenues and profit.
Based on the results of the assessment of the quality of banks' assets (assessment of banks' stability), JSC «CIB» has no need (shortage) of capital in 2019.
JSC «CIB» entered 2019 with a large liquidity margin, which is indicated by the high values of its norms that exceeded both the limit values set by the NBU and the average values of these norms across the banking system. As of 01.03.2019, the Bank's N4 amounted to 183.21%, N5 – 128.04%, N6 – 95.80%. All three liquidity ratios of the Bank already traditionally significantly exceeded both the limit values set by the NBU and the average values of the specified ratios across the system of banks of Ukraine. That is, as of the beginning of March 2019, the Bank had a very good liquidity margin.
Based on the results of 2018, JSC «CIB» generated a profit in the amount of UAH 11.312 million, which was 3.8 times higher than the Bank's profit based on the results of 2017.
The indicators of the key items of the Bank's revenues were positively reflected on the dynamics of the Bank's profit. Thus, based on the results of 2018, compared to 2017, the Bank's interest income grew by 57.59% and amounted to UAH 113.680 million, commission income grew by 28.37%, to the level of UAH 50.156 million, and net interest income grew by 72.10% and amounted to UAH 65.740 million.
In 2018, JSC «CIB» grew the scale of its activity, increasing the resource base and loan portfolio. The Bank not only continued to demonstrate profitable activity but also grew the volumes of revenues and profit. At the same time, JSC «CIB» maintained a high margin of the regulatory capital adequacy ratio and liquidity ratios.
