Fitch Ratings affirms credit rating of Universalbank

The agency affirmed Universlbank’s long-term local currency IDR at “CCC”, short-term local currency at “C” and viability rating at “ccc”. The agency also confirmed support rating at “5”. The assigned rating affirmed that the bank pursues a transparent policy and introducing modern corporate governance principles.

The ratings take into account adequate capitalization, balanced liquidity and improved financial results. The ratings also take into account the rapid growth of assets and related risks. Business scale of Universalbank grows at a steady pace. The bank has significantly strengthened its position in the corporate lending segment. The liquidity position of the balance is favorable level.

Universalbank shows steady improvement of its financial performance, especially in the last two years. It is expected that in the near future profitability of the bank will remain at a good level.

The bank is in the process of restructuring of its business processes and corporate governance in order to prepare for the expansion of activities and to provide a wider range of services to the public and corporate clients.