PRESS-RELEASE

(Translation from Russian)

The credit rating of PJSC «CB «GLOBUS»

is improved up to the level uaА-

            May 31, 2012 RA «Expert-Rating» has decided to improve the credit rating of PJSC «CB «GLOBUS» at the level uaА- according to the national scale. The borrower with rating uaА- is characterized by a high solvency compared to other Ukrainian borrowers. Making decision of improving the credit rating according to the national scale, the Agency was guided by key results of the Bank’s activity in the Q1 of 2012.

Table 1

Key indicators of PJSC «CB «GLOBUS», th. UAH, p.p.,%

Source: data of PJSC «CB «GLOBUS», calculations by RA «Expert-Rating»

1. In the Q1 of 2012 the Bank «GLOBUS» has continued to dynamically developing. The growth rates of the Bank’s key indicators, exceeding the market averages, have resulted in a considerable increase in assets and liabilities of the institution. Thus, in the period from 01.04.2011 to 01.04.2012 assets of the Bank have increased by 28,37% or by UAH 475,5 mln, which has resulted in their volume has exceeded UAH 2 bn and as of 01.04.2012 it has amounted to UAH 2,152 bn. The bank’s liabilities have increased by 30,80% in the same period and have amounted to UAH 1,948 bn on 01.04.2012, shareholders’ equity has grown by 8,97% and has amounted to UAH 203,6 mln, the loan portfolio has increased by 3,57%, having amounted to UAH 401,7 mln, and net profit has grown in 1,58 times and has amounted to UAH 4,4 mln following the results of the Q1 of 2012.

2. The resource base of the Bank has grown by one third (by 30,80%) in the last 12 months, while the average growth rate of total liabilities of the Ukrainian banks has amounted to 7,43% in the same period. In particular, funds of individuals, raised by the bank, have grown by 69,52% (with the average growth rate of the banking system – 13,7%) and have amounted to UAH 392,1 mln as of 01.04.2012, funds of legal entities have increased by 94,55% (the average of the system – 11,9%) and have amounted to UAH 85 mln. A significant reserve of own funds has enabled PJSC «GLOBUS» to intensively increase the portfolio of active operations, whose growth rate has exceeded the growth rates of equity, which has resulted in a slight decrease of capital adequacy indicators. In particular, the norm of regulatory capital adequacy (N2) has decreased by 7,96 p.p. (from 20,28% as of 01.04.2011 down to 12,32% as of 01.04.2012), the norm of the ratio of regulatory capital to assets (N3) has decreased by 0,71 p.p. (from 10,58% down to 9,87%) in the same period. At the same time, the Agency emphasizes that the Bank fully performs all the requirements provided by NBU to the norms of equity.

 3. The analysis has shown that the risks of the Bank’s loan portfolio don’t exceed the averages of the market and approximately are at the level of the same period of 2011. Thus, loans provisions have increased just by 4,87% or by UAH 3,2 mln in the period from 01.04.2011 to 01.04.2012 and have amounted to UAH 68,9 mln. The ratio of loans provisions to customer credits and debt has increased by 0,21 p.p. (from 16,94% up to 17,15%) in the same period, while this indicator in average of Ukrainian banks has increased by 2,43 p.p. (from 19,02% up to 21,45%) in the same period. Besides, it should be noted that the proportion of the loan portfolio in total assets of the Bank has amounted to 18,67%, while liquid assets account for 65,81%. The Agency also pays attention to that the loan portfolio of the Bank doesn’t bear currency risks – customer credits and debt in foreign currency have amounted to only UAH 4 th. as of 01.04.2012.

4. Liquidity indicators of the Bank are at the high level. Liquid assets have increased by 16,93% and have amounted to UAH 1,416 bn as of 01.04.2012. The norm of the Bank’s instant liquidity (N4) has increased by 21,34 p.p. and has amounted to 42,00% as of 01.04.2012 (with the minimal indicator – not less 20%), the norm of current liquidity (N5) has amounted to 79,65% (the minimal indicator – not less 40%) that is by 18,3 p.p. more, than as of 01.04.2011, the norm of short-term liquidity (N6) has amounted to 107,04% (with the required indicator – not less 60%). Besides, profitability indicators of the Bank have considerably improved. According to the results of the Q1 of 2012 net profit has amounted to UAH 4,4 mln that is by 58,45% more, than in the Q1 of 2011. Net interest income of the Bank has increased by 10,30% and has amounted to UAH 15,7 mln, and net commission income has increased almost in 4 times (by 295,33%) in the same period: from UAH 501 th. up to UAH 1,981 mln.

Therefore, the analysis of key performance indicators of PJSC «CB «GLOBUS» demonstrates a good dynamics of its development following the results of the Q1 of 2012 compared to the same period of 2011. The Bank’s portfolio of assets and liabilities has increased approximately by one third in the given period. Net profit of the Bank has increased more than in 1,5 times. At the same time, the Agency positively estimates the assets quality, the liquidity level and the solvency of the Bank.

Analytical service of RA «Expert-Rating»

Confirmation of PJSC «CB «GLOBUS» (english version) - 31.05.2012