OREANDA-NEWS. November 10, 2009. International Rating Agency Moody's has upgraded ratings of Prominvestbank from Саа2/Саа2/Е/B3.ua to B2/B3/E+/A2.ua.

The Agency has upgraded the long-term global scale local currency deposit rating of Prominvestbank to B2 and its foreign currency deposit rating to B3 from Caa2. At the same time, the National Scale rating (NSR) of the Bank was upgraded to A2.ua from B3.ua and financial strength rating (BFSR) was upgraded to E+ from E.

The bank's global scale local currency deposit rating and BFSR carry a stable outlook, while its foreign currency deposit rating carries a negative outlook in line with the outlook for foreign currency bank deposit ceiling for Ukraine. The bank's NSR carries no specific outlook.

Moody's upgrade of Prominvestbank ratings has been prompted by stabilisation of the Bank's activity due to the recently provided financial support from its main shareholder - State Corporation 'Bank for Development and Foreign Economic Affairs (Vnesheconombank)' (Russian Federation).

Reference: Joint-Stock Commercial Industrial & Investment bank (Prominvestbank) was formed in 1992 and is among the group of the largest Ukrainian banks. As of today the largest shareholder of the bank is State Corporation 'Bank for Development and Foreign Economic Affairs (Vnesheconombank)' (Russian Federation) - 93.84%.

As of 01.11.2009 the capital of Prominvestbank made UAH 6.01 billion, assets - UAH 30.97 billion, credit portfolio - UAH 23.7 billion , customers deposits - UAH 14.03 billion.