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Privatbank Ukraine
Foreign currency deposit rates from Privatbank in Ukraine.PrivatBank is a public company and is by far the largest commercial bank in Ukraine Primary shareholders owners include Ukrainian oligarchs, Ihor Kolomoyskyi and Henadiy Boholubov. It has 13 million individual accounts and 0.5m corporate accounts, and has more than USD 10 billion net assets Wikipedia article on Privatbank.
Will Ukraine Default?
Early in 2009, there was ubiquitous press coverage about Ukraine likely to default on its Sovereign and corporate debt. However, by in the latter half of 2009, there has been substantial improvement in the global economy. Standard reports. Standard & Poors reports it is unlikely that Ukraine will default. It has upgraded its outlook from "negative" to "positive", meaning an rating upgrade is imminent.
The latest credit ratings for Privatbank.
Moody's in July 2009 assigned an international "Ba3" baseline credit assessment. The rating reflects the following factors: - the bank's strong franchise and respected name in Ukraine, where it is the largest bank by total assets, loans and deposits, with a nationwide branch network; and
- the bank's focus on under-banked sectors, such as SMEs and retail, especially in the credit card segment, where competition is less fierce, albeit intensifying. The bank's stand-alone rating also benefits from its advanced (by local standards) IT systems and its relatively well-diversified funding base. On the other hand, the it is constrained by the deteriorating operating environment in Ukraine and some corporate governance issues, including the bank's close affiliation with companies controlled by its major shareholders.
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