Tuesday, July 1, 2008

Moody’s confirms Swedbank and Swedbank Invest rating at national scale Aa1.ua.

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Moody’s confirms Swedbank and Swedbank Invest rating at national scale Aa1.ua. Moody’s confirmed Swedbank and Swedbank Invest rating at Aa1.ua. The agency also confirmed national currency debt and deposits rating at Ba2. The ratings were unchanged despite downgraded parent Swedbank AB ’s financial strength rating from B to B-, and its long-term senior debt and deposit ratings from Aa1 to Aa2. As of Apr 1, net assets of Kyiv based Swedbank amounted to UAH 9,718mn, credit portfolio stood at UAH 7,538.9mn, and capital reached UAH 1,427mn. Net assets of Swedbank Invest amounted to UAH 3,808mn, credit portfolio stood at UAH 2,658mn, and capital reached UAH 472mn. In Q1, Swedbank posted net profit of UAH 5.45mn, and Swedbank Invest in Q1 posted UAH 19.86mn after each one respectively had UAH 16.2mn and UAH 60.08mn in net profits for entire 2007.

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Moody’s confirms Swedbank and Swedbank Invest rating at national scale Aa1.ua.

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