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RA «Expert-Rating» assigns the credit rating to the bonds of PJSC «BROKBUSINESSBANK»


December 29, 2011 at the meeting of the Rating committee there was made a decision about assigning the credit rating to PJSC “BROKBUSINESSBANK” bonds of Series B of UAH 150 mln. at the level uaAA. The placement of bonds of Series B was conducted in the period from August of 2008 to August of 2009.


According to the Agency, the current level of debt on the bonds of PJSC “BROKBUSINESSBANK” can’t considerably affect its solvency. The Bank won’t be able to perform in time its liabilities to the investors – to the bondholders as well as to the depositors.

As of 01.10.2011 Bank’s assets have reached UAH 19,4 bn. that is by UAH 4,2 bn. or by 27,29% more than as of 01.10.2010. Liquid assets of the Bank have increased by 18,16% and have constituted UAH 2,7 bn. The growth of the Bank’s loan portfolio has constituted 8,11% or UAH 973 mln. according to the Q3 of 2011 in comparison with the same period of 2010. At the same time the growth rate of loans provisions has occurred insignificant – 0,5% and a low ratio between Bank’s reserves and its loan portfolio (6,57%), which indirectly indicates its good quality, is much more lower than the average indicator on the banking system (19,04%).

As of 01.10.2011 Bank shareholders’ capital has constituted UAH 2,4 bn. that is by 1,37% more than on the same date of 2010. The Bank’s capital adequacy has constituted 12,33% as of 01.10.2011 that is by 3,15 p.p. less than in the same period of the previous year due to the faster rates of assets growth, compared with capital growth. At the same time this indicator is at the adequate level, which enables the Bank to maintain the necessary reserve of solvency and to perform the norms of NBU.

The above statistics shows that liquid assets were in 18 times more than the issue volume of Series B and shareholders’ capital exceeded in 16 times the issue volume of Series B. Besides, the Agency pays attention of the investors that the rating assigned to the Bank in July of 2011 at the level uaAA, has already taken into account that the bank has two series of bonds in circulation of UAH 150 mln. each one. In August of 2011 the bonds of Series A were successfully redeemed by the issuer.

RA «Expert-Rating» reminds that on 17.11.2011 the Agency has confirmed the rating of PJSC “BROKBUSINESSBANK” according to the results of the 9 months of 2011. At the moment of the rating confirmation the bonds of Series B have been in circulation and the bonds of Series A have already been redeemed.


Analytical department of RA «Expert-Rating»

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