OREANDA-NEWS. December 08, 2011. When reviewing assigned bank ratings pursuant to a new methodology, on 1 December the international rating agency Standard&Poors confirmed the ratings that were previously assigned to Ukio bankas – the bank was assigned long-term credit rating B and short-term issue credit rating B. The outlook of both ratings is stable, reported the press-centre of Ukio Bankas.

“The fact that Ukio bankas maintained the ratings previously assigned to it by one of the leading global rating agencies serves as a strong confirmation to our clients and partners that Ukio bankas activities are reliable and stable. The maintained B/B rating with stable outlook is a powerful stimulus for us to continue actively working and seeking sustainable growth of the bank,” Gintaras Ugianskis, Chief Executive Officer of Ukio bankas Board, said.

The agency Standard&Poors evaluated Ukio bankas performance pursuant to an updated methodology for the evaluation of financial institutions and criteria announced on 9 November. The criteria were amended with the aim of identifying the state of banks and financial institutions with a greater accuracy taking into account the economic situation of the countries in which banks operate.

When maintaining Ukio bankas ratings, B/B, the agency evaluated the economic situation of Lithuania in which the bank operates as well as Ukio bankas liquidity, capital and income adequacy ratios, business position and risks.

Standard&Poors is one the world’s largest and best known independent rating agencies. Ratings assigned by it show the capacity of financial institutions and enable investors, partners, clients and other stakeholders to make a comparison between institutions in the same area.