OREANDA-NEWS. January 06, 2011. The competent rating agency "Expert-Rating" has awarded to Kreditprombank the credit rating at the uaBBB level by national scale. The bank with such rating estimate is characterized by sufficient creditworthiness comparing with other Ukrainian banks.

According to expert opinions Kreditprombank is the only largest domestic financial institution that could survive recession by recurring only to the restructuring of external debt and debt on bonds, at the same time fulfilling in full its commitments on deposits and having not changed radically the structure of shareholders. This fact particularly highlights the professionalism of the management and good level of governing of the financial institution, note the experts.

It is also mentioned in the rating report that for nine months of 2010 Kreditprombank received net profit in amount of UAH 20,8 MIL, thus having overcome the crisis trend and showing the creditors its ability to produce profit. In expert forecasts 2011 is very likely to become the profitable year for the bank as well.

Besides, the agency has positively estimated the agreement with foreign lenders signed by Kreditprombank in September, 2010 that envisages the restructuring of existing debt of the bank and transfer under the control of external lenders of 49% of its shares. In expert opinions it ensures for the bank good competitive starting position in 2011. The reputable international financial institutions, including EBRD, enjoying considerable external support will become its new shareholders. The presence of their specific plans on bank’s development can result in further improvement of its credit rating in future.

The full grounding of the rating estimate of RA "Expert-Rating" can be found in rating report published at the agency’s website: www.expert-rating.com.

According to the Chairman of the Management Board of Kreditprombank Viktor Leonidov, acknowledging the significance of provision of true and impartial information on bank’s activities, satisfaction in full of needs in information of all stakeholders as well as pursuing the chosen strategy of sustainable development, the bank gave its clear consent to publication of this rating report. "I would like to confirm once again the continual commitment of the bank to the principles of openness and transparency. It is our principled stand. We further intent to disclose the information on results of our work on regular basis that will promote the constant improvement of level of trust in bank by its customers, shareholders and partners. We will make efforts at most as well to improve substantially the rating of Kreditprombank in 2011", - underlined Viktor Leonidov.

The Public Joint Stock Company "Kreditprombank" is a stable universal commercial bank represented in the financial market of Ukraine since 1997. According to the NBU’s classification it is included into the group of the largest banks of the country.

The Bank provides full range of financial services for the corporate and retail clients, representatives of small and medium business and its customer base amounts to about 400 thousand of physical persons and more than 10 thousand of legal entities. As of 01 December, 2010 the regional network of branches and outlets of "Kreditprombank" included 185 sale points.