LONDON, Nov. 13, 2018 (GLOBE NEWSWIRE) -- Ukrainian state-owned bank, Ukrgasbank, has become the first bank without foreign capital to join the top five most stable banks in Ukraine, according to an expert survey.
The survey of bank stability in 3Q2018 puts the state-owned lender next to Ukrsibbank, Raifessenbank Aval, OTP Bank and Credit Agricole – all of which have foreign shareholders.
The ranking is based on expert evaluation by analysts from Dragon Capital, Expert Rating, ICU and IBI-Rating.
Loyalty of depositors is one of the key indicators determining a bank's place in the stability rating. The experts also considered things such as banks’ dependence on retail deposits, quality of funding, profitability, liquidity, capital adequacy and regional presence.
According to the survey, the Ukrainian banking sector was profitable in 3Q2018. The Ukrainian banks have cumulatively achieved a positive financial result UAH 10.9bn for the period.
Ukrgasbank, one of the five largest banks in Ukraine by assets, is the first and only lender in eastern Europe with a focus on green finance. It is involved in 90% of all green projects in Ukraine – the most energy-intensive country in Europe. The projects financed by the bank have cumulatively contributed to reducing CO2 emissions by over 900 thousand tons a year.
In October, the bank announced that it financed the first solar power plant in the Chernobyl exclusion zone, as part of Ukraine’s broader plans to develop significant solar power capacities in the area.
Ukrgasbank signed a strategic partnership agreement with the International Financial Corporation in 2017. The partnership has played a pivotal role in the development of the bank’s green business strategy as well as contributed to the strengthening of its corporate governance, growth of loan portfolio and improvement of the overall health of the bank.