Raiffeisen Bank Aval, controlled by Raiffeisen Bank International since 2005, is the 5th largest bank in Ukraine, accounting for 5% of total domestic banking assets. The EBRD acquired a 30% stake in Aval in 2015.
Moody’s Investors Service upgraded its long-term foreign and local currency ratings on Raiffeisen Bank Aval and revised the rating outlook to stable from positive. The agency based its decision on its recent upgrade of the sovereign rating to B3 from Caa1. In addition, Moody’s upgraded Aval’s baseline credit assessment (BCA) by one notch, to B3 from Caa1, due to a moderate probability of affiliate support from the bank’s parent, Raiffeisen Bank International.
According to provisional NBU data, Raiffeisen Bank Aval (BAVL) booked net profit of UAH 1.1bn ($39m) in April, improving on a loss of UAH 0.5bn ($18m) in March and bringing 4M20 net income to UAH 1.4bn ($53m), up from UAH 1.0bn in 1Q20. Total assets rose 18% both m-o-m and y-o-y, to UAH 94bn, while customer deposits surged 28% y-o-y and 16% m-o-m to UAH 75bn.