OREANDA-NEWS. November 17, 2014. MEGABANK successfully passed stress-testing and received confirmation of adequate capitalization of the bank: it has sufficient resistance to stress for normal operation and full implementation of its commitments.

Diagnosis of the largest banks in Ukraine was held under the auspices of the National Bank of Ukraine in the framework of cooperation programs of the International Monetary Fund and the World Bank’s project to support the financial sector of Ukraine. Stress-testing is aimed at assessing the stability of Ukrainian banks to macroeconomic and financial shocks.

Diagnostics of the Bank was made by auditing company, which is among the four largest companies in the world providing audit services. MEGABANK demonstrated a strong position in terms of capitalization, which is one of the most important indicators of the stress-testing.

As part of the stress-testing also a thorough assessment of the quality of the bank’s assets was carried out. In particular, the analysis of the loan portfolio of MEGABANK showed good quality of operations and fixed enough reserves to cover risk of the portfolio.

Thus, the stress-testing testified that MEGABANK exceeds the established criteria of capital adequacy and asset quality, and has the resources to maintain an acceptable level of regulatory requirements even under the adverse scenario of economic development.

Recall that the diagnosis of 35-largest by assets Ukrainian banks was envisaged by the “stand-by” program of the International Monetary Fund and the World Bank’s project to support the financial sector of Ukraine. The diagnosis was made by independent audit firms in accordance with the requirements of the NBU.