The long-term credit rating of JSC «COMINBANK» has been updated
On May 9, 2023, by the decision of the rating committee of the Rating Agency «Standard-Rating», the long-term credit rating of JSC «COMINBANK» on the national scale was updated to the level of uaAAA. A bank with a uaAAA rating is characterized by the highest creditworthiness. The decision to update this credit rating was made in accordance with the results of the analysis of the Bank's performance for the first quarter of 2023, as well as data of the Bank's statistical reporting for 2022 and for January-April 2023.
For the period from 01.01.2023 to 01.04.2023, the key balance sheet indicators of JOINT-STOCK COMPANY «COMINBANK» demonstrated the following dynamics:
- assets grew by 0.03%;
- the volume of loans and receivables from clients decreased by 3.04%;
- liabilities decreased by 1.63%;
- equity showed a growth of 16.94%.
The Bank's development strategy provides for ensuring high liquidity and maximum reliability, including through a balanced credit policy. The Bank continued to increase the share of highly liquid instruments in the structure of its assets, increasing the volumes of cash and cash equivalents, as well as funds on correspondent accounts in other banks. At the same time, the volume of the loan portfolio and its share in the structure of assets in the analyzed period did not undergo significant changes.
In the first quarter of 2023, the regulatory capital of JSC «COMINBANK» (N1) continued the trend of growth, increasing during the period from 01.01.2023 to 01.04.2023 by 3.27% to UAH 586.062 million.
The Agency notes that throughout the entire analysis period and as of the beginning of May 2023, JSC «COMINBANK» with a significant reserve relative to the values established by the NBU, complied with capital ratios (N1, N2, and N3) and was very well supplied with liquidity, which is confirmed by the high values of NSFR, LCRb, and LCRf ratios of the Bank.
