UkrSibbank Retains the Title of the Most Reliable Bank in Ukraine

According to the “Deposits Reliability Rating” by the Standard-Rating agency, UkrSibbank BNP Paribas Group has been once again named the most reliable bank in Ukraine in terms of deposits safety.

According to the “Deposits Reliability Rating” by the Standard-Rating agency, UkrSibbank BNP Paribas Group has been once again named the most reliable bank in Ukraine in terms of deposits safety. The TOP-10 of the rating has remained unchanged compared to the September issue of the rating.

Experts of the Standard-Rating agency recognized UkrSibbank’s deposit interest rates as the most conservative, which is rather good for the banking sector. Standard-Rating named UkrSibbank “a safe haven” for both individual depositors and large corporate clients in the troubled environment.

18 banks were assigned the highest marks in the December rating (vs. 22 in Q2 2014), while 20 banks (vs. 23 in Q2) got the positive mark. The leaders mainly include state-owned banks and banks with foreign capital.

“That is why clients should consider either foreign banks or state-financed institutions,” said the experts of Standard-Rating in their press release. “Clients are advised to approach the local Ukrainian banks with healthy caution and thoroughly review their compliance with capital requirements.”

Furthermore, experts say that when choosing a bank one should pay more attention to how the bank manages risks rather than to what deposit rates it has to offer.