The international rating agency Moody's Investors Service has left the expected Bank’s Financial Stability Rate (BFSR) of AS "PrivatBank" without changes – it remains stable. Neither has the rating itself changed – it is still on the E+ level. The long-term deposit rating has not changed either – it remains on the B1 level. This is not a typical situation for the Latvian banking sector, in which now we most often hear reports on worsening of expected rates and rate decreasing.

The Bank has been given A mark for the Profitability and Capital Adequacy rates.

 

In their report, Moody’s analysts stressed satisfactory financial rates, the adequate capitalization level and good diversification of risks of AS "PrivatBank". Among the potential difficulties, the company specialists mentioned possible difficulties with maintaining the asset quality (any Latvian bank faces such a challenge due to the difficult financial situation on our market), high competition of stronger Latvian banks as well as relatively high percentage of non-residents’ deposits. On the other hand, the latter rate can testify that AS "PrivatBank" has deserved confidence of depositors not only in Latvia, but also outside its borders.

 

As of September 30, 2008 AS "PrivatBank" assets amounted to LVL 128 million. According to the consolidated report for the third quarter of this year, the net profit of the bank amounted to LVL 250 thousand. The total volume of deposits made in AS "PrivatBank" reached almost LVL 138 million – this is a considerably greater amount than for the same period of the previous year (LVL 89 million).