On April 29, 2020, 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 results for 2019.
The key balance sheet indicators of Joint-Stock Company «Commercial Industrial Bank» based on the results of 2019 demonstrated good growth rates, namely:
assets grew by 31.91%; equity showed growth of 9.76%.
The key components of the Bank's resource base showed good growth dynamics. Thus, as of 01.01.2020 compared to 01.01.2019, funds of individuals grew by 52.50%, and the volume of funds of legal entities increased by 20.32%.
The regulatory capital of JSC «CIB» (N1) during the period from 01.01.2019 to 01.01.2020 grew by 9.45% and amounted to UAH 229.869 million, which is UAH 29.869 million higher than the limit value set by the NBU at the level of UAH 200 million.
The values of the liquidity norms of JSC «CIB» testify that as of 01.01.2020 the Bank was very well provided with liquidity. Thus, the LCRall and LCRfx norms of the Bank with a very large margin exceeded the limit values set by the NBU: the norm of the liquidity coverage ratio in all currencies (LCRall) was 3.8 times higher than the limit level, and the norm of the liquidity coverage ratio in foreign currency (LCRfx) was more than 7 times higher than the limit value set by the regulator.
Thus, in 2019, JSC «CIB» demonstrated a good level of business activity: the Bank significantly increased the volume of its resource base and loan portfolio, which positively affected the dynamics of its revenues and profit. Based on the results of 2019, the profit of JSC «CIB» amounted to UAH 23.455 million, which was 2 times higher than the Bank's profit for 2018. During the specified period, all key revenue items of JSC «CIB» demonstrated high growth rates: interest income grew by 65.31% and amounted to UAH 187.925 million, net interest income increased by 42.98% and amounted to UAH 93.996 million, commission income grew by 179.28% to UAH 140.074 million, and net commission income showed growth of 51.94% to UAH 60.820 million. At the same time, the Bank maintains at a high level the indicators of the regulatory and basic capital adequacy norms (N2 and N3), as well as has formed a substantial margin under liquidity norms.
