Fitch Ratings has upgraded Oschadbank's rating

Fitch Ratings has upgraded Oschadbank's Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) from 'CCC-' and 'CCC' to 'CCC' and 'CCC+' respectively. The bank's Sustainability (Viability) Rating, VR, has been upgraded from “CCC-” to “CCC”. This follows the completion of the sovereign Eurobond exchange and the corresponding upgrade of Ukraine's local currency IDRs to 'CCC+'. The upgrade of the bank's IDRs reflects a decrease in the probability of its default.

According to the results of eight months of 2024, Oschad received UAH 11.2 billion of net profit. The bank improved its financial result by more than UAH 1.7 billion compared to the same period last year. Currently, Oschadbank has sufficient liquidity and capital. Thus, the regulatory capital adequacy ratio of Oschad as of September 1, 2024, was 11.71%, while the updated NBU standard is 8.5%.