OREANDA-NEWS. October 25, 2012. This year AS "PrivatBank" plans to use the international ratings assigned to PrivatBank banking group. The bank’s press service informed that this decision was made as part of optimisation of the banking group’s rating costs, reported the press-centre of PrivatBank.

After successful completion of all issues of mortgage bonds, the last of which was completed in December 2011, this year AS "PrivatBank" does not plan any new issues of debt securities. Therefore the bank does not need individual ratings at the moment.

"It is very important for a bank to have an international rating when operating in the European lending markets," the report of AS "PrivatBank" press service says. "However, the Ukrainian PrivatBank, which represents the whole banking group, is actively operating in these markets, therefore it was decided to optimise subsidiaries’ rating costs, which is a customary international practice."

AS "PrivatBank" is a member of PrivatBank, an international banking group serving more than 22 million corporate and individual customers in 12 countries of the world – Russia, Georgia, Latvia, Ukraine, Italy, Portugal, China, United Kingdom, Cyprus, Germany, Spain, and Kazakhstan. In 2011 PrivatBank was recognised the Bank of the year 2011 in Ukraine (The Banker Awards). PrivatBank took the 369th position in The Top 1000 World Banks ranking, compared to the 416th position in 2010. In 2012 the American magazine Global Finance included PrivatBank in the top 22 banks of the Central and Eastern Europe.