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In August 2024, by the decision of the rating committee of the Standard-Rating Rating Agency, the long-term credit rating of JSC COMINBANK was updated on the national scale at the uaAAA level. A bank or a separate debt instrument with a uaAAA rating is characterized by the highest creditworthiness compared to other Ukrainian borrowers or debt instruments.
The decision to update COMINBANKy's credit rating was made in accordance with the results of the analysis of the results of the Bank's work for the first half of 2024, as well as the data of the Bank's statistical reporting for January-July 2024.
For the period from 01.01.2024 to 01.07.2024, the key balance sheet indicators of JSC "COMINBANK" demonstrated the following dynamics:
- liabilities decreased by 18.96%;
- equity increased by 28.98%. The increase in the equity capital of JSC "COMINBANK" took place due to a significant increase in the volume (by 47 times).
In the first half of 2024, JSC COMINBANK's equity showed significant growth rates (+28.98%), the loan portfolio grew by 0.67%.
At the same time, the Bank maintained the quality of the loan portfolio at a good level: the specific weight of non-performing loans (NPL) in the loan portfolio as of July 1, 2024 was 19.12%, which was 15.45 percentage points less than the average level of NPLs in the banking system of Ukraine .
Throughout the analysis period and as of the beginning of August 2024, JSC "COMINBANK" was well provided with basic and regulatory capital, maintaining the indicators of capital standards (H1, H2 and H3) with a margin in relation to the established NBU limit values.
In the analyzed period, the profit and key items of income of JSC "COMINBANK" showed good growth rates. In particular, the Bank's profit for the first half of 2024 compared to the first half of 2023 increased by 2.1 times, net interest income increased by 41.33%, and the Bank's net commission income increased by 4.72%.
