Nine of Ukraine’s 15 largest banks may need capital injections, NBU reports

Nine of Ukraine’s 15 largest banks may need capital injections, NBU reports



23 вересня 2014 года
Конкорд Капитал

Nine out of the 15 largest Ukrainian banks that underwent stress-testing this summer may need additional capital injections over the next three years, the NBU reported in a Sept. 22 press release. The total capital that might need to be injected is UAH 56 bln, according to the release. The NBU did not provide the names of the banks, also stressing that their need to for capital does not mean the banks have current trouble with their operations or solvency issues. The stress tests modeled the possible capital needs of the banks over the next three years, implying the banks will not necessarily need immediate capital injections, the NBU reported.

 

Alexander Paraschiy: The amount of possible capital needs looks really high, as it’s comparable to 56% of the top 15 banks’ aggregate share capital (UAH 100 bln) and 48% of the banks’ aggregate equity (UAH 116 bln), as of end-June. Clearly, the stress-testing is a theoretical exercise that could reveal trouble if the assumptions that were modeled prove true. Thus far, the central bank is keeping its assumptions of the stress-testing secret, which does not allow us to check how conservative they are.

 

What we can state with a high degree of certainty is that the banks with a low capital adequacy ratio (CAR) as of the last reporting date (end-June) are very likely to be among the nine needing capital, including such issuers of equity or international debt as Finance & Credit Bank (FICBUA, CAR of 10.7%), Privat Bank (PRBANK, CAR of 10.9%), and Ukrsotsbank (USCB UK, CAR of 11.1%).

Источник: Конкорд Капитал

Аналитик: Александр Паращий
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