S&P still classifies Ukrainian banking sector as group 10 according to BICRA level

18:54, 03.11.2020 1 min read

The international rating agency Standard & Poor's Global Ratings continues to classify the Ukrainian banking sector as Group 10 in terms of the level of industry and country risks (Banking Industry Country Risk Assessment - BICRA), S&P said in a statement on Tuesday.

According to it, the level of economic risk in the Ukrainian banking system is very high in the international context.

S&P analysts also indicated that over the past five years, the level of industry risk for Ukrainian banks has decreased, but also remains at a very high level.

"We believe that the quality of banking regulation and supervision has improved over the past five years during the period of the new leadership of the National Bank. The NBU seeks to maintain independence, despite political pressure, and bring the Ukrainian regulatory regime in line with EU standards," the message reads.