THE PREMIER TURKISH BANK
IN UKRAINE

About us

The National Bank of Ukraine registered us as the CLOSED JOINT STOCK COMPANY “WEST FINANCE AND CREDIT BANK” (or CJSC “CREDITWEST BANK”) in October 2006.

2007

n February 2007, CREDITWEST BANK received a bank license from the National Bank of Ukraine. The Charter Capital of the bank is 72 million UAH (11 million euro).

In March 2007, CREDITWEST BANK opened its doors to the first customers.

Starting from March 2007, CREDITWEST BANK is a member of the State Guarantee Fund of Individuals’ Holdings.

In May-July 2007, the bank started providing money transfer services though the following payment systems: “Western Union”, “Anelik” and “PrivatMoney”. In June 2007, CREDITWEST BANK joined the National System of Mass Electronic Payments (NSMEP).

  2008 - 2009

From May-July 2008, the Bank received membership in the Visa and MasterCard international payment systems.

During 2008, three branches of CREDITWEST BANK were launched in Kiev.

"KPMG Ukraine" company helds an audit of the Bank in accordance with the international standards. Ukrainian auditor of the CREDITWEST BANK is "Balance" company.

On January, 27 2009 the Bank was reorganized into Opened Joint Stock Company “WEST FINANCE AND CREDIT BANK”.

  2010 - 2011

On December, 13, 2010 OJSC "CREDITWEST BANK" became a member of the American Chamber of Commerce in Ukraine, which is the most effective non-government business organizations operating in Ukraine.

On January 11, 2011 there was performed changing the type and the name of the Open Joint Stock Company “WEST FINANCE AND CREDIT BANK” to Public Joint Stock Company “WEST FINANCE AND CREDIT BANK” (short name РJSC “CREDITWEST BANK”) in the United state register of legal entities and private entrepreneurs.

On April 15, 2011 at General Shareholder’s Meeting of the PJSC "CREDITWEST BANK" it was decided to increase the share capital of the Bank on 15 870 200 hryvnas to the level 88 045 200 hryvnas by the private placement of current nominal value shares.

2012 - 2013

6.07.2012 the International credit rating agency JCR Eurasia Rating has assigned the rating of ‘A+ (Ukr)’ along with a ‘Stable’ outlook for PJSC “CREDITWEST BANK” on the Long Term National Scale, which denotes an investment grade credit rating.

According to AUB at the end of 2012 in the banking system of Ukraine:

  • Financial result of CREDITWEST BANK takes 33rd place;
  • ROE of CREDITWEST BANK takes 11th place;
  • ROA of CREDITWEST BANK takes 6th place in the banking system of Ukraine.

04.07.2013 the International credit rating agency JCR Eurasia Rating has upgraded the ratings of PJSC “CREDITWEST BANK” to ‘AA- (Ukr)’ from ‘A+ (Ukr)’ on the Long Term National Scale and to ‘A-1+ (Ukr)’ from ‘A-1 (Ukr)’ on the Short Term National Scale along with ‘Stable’ outlooks.

2014

JSC “CREDITWEST BANK” has been developing rapidly. During 2013 the clients’ loan portfolio was increased by 76%. The overdue is 0,65%. The volume of clients’ deposits was almost tripled.

According to AUB at the end of 2013 in the banking system of Ukraine:

  • Financial result of CREDITWEST BANK takes 27th place;
  • ROE of CREDITWEST BANK takes 7th place;
  • ROA of CREDITWEST BANK takes 3rd place in the banking system of Ukraine.

04.03.2014 the International credit rating agency JCR Eurasia Rating affirmed the ratings of PJSC “CREDITWEST BANK” on the level ‘AA- (Ukr)’ on the Long Term National Scale and ‘A-1+ (Ukr)’ on the Short Term National Scale along with ‘Stable’ outlooks, which denote investment grade credit ratings.

21.07.2014 the International credit rating agency JCR Eurasia Rating affirmed the ratings of PJSC “CREDITWEST BANK” on the level ‘AA- (Ukr)’ on the Long Term National Scale and ‘A-1+ (Ukr)’ on the Short Term National Scale along with ‘Stable’ outlooks, which denote investment grade credit ratings.

2015

On June 30, 2015, the authorized national rating agency IBI-Rating confirmed the long-term credit rating of PJSC "CREDITWEST BANK", according to the National Rating Scale, at the level of "uaAA" while maintaining the outlook "stable". A financial institution with a rating of "uaAA" is characterized by very high creditworthiness compared to other Ukrainian institutions.

IBI-Rating also confirmed the Reliability Rating of Bank Deposits of PJSC "CREDITWEST BANK" at level 5 "excellent reliability". The level of reliability of bank deposits at level 5 indicates that the financial institution is reliable, timely pays its obligations in accordance with applicable law, including the requirements of the NBU, has a good reputation.

In November, the Bank made the transition to the new system of automation of the operating day of ABS B2, which allows to expand and diversify the Bank's product line, as well as increase the efficiency of automated support of customer transactions.

Change of office location: Kyiv, st. Leontovycha, 4. The move is carried out in order to provide better services of the bank, as well as a comfortable and convenient location. Spacious premises, made in a modern design, allow to accommodate an expanded staff of professional managers who provide services to legal entities and individuals. All this will improve the conditions for providing services to customers, as well as reduce the time of operations.

2016

PJSC "CREDITWEST BANK" joined the Independent Association of Banks of Ukraine. It provides up-to-date information on changes in legislation and effective protection of one's rights and interests.

As part of the planned long-term development program, PJSC "CREDITWEST BANK" completed the procedure of increasing the authorized capital by 32.5%, or UAH 33.5 million. - up to UAH 136.47 million.

The capitalization was carried out by increasing the nominal value of shares, due to the profit received in 2015. The decision was made at the meeting of shareholders on April 14, 2016. The state registration of changes to the Bank's Charter took place on June 1, 2016.

The previous capital increase of PJSC "CREDITWEST BANK" took place in July 2015. The authorized capital was increased by UAH 14.967 million, or by 17%, to UAH 103.012 million.

Capital growth will allow the Bank to continue to implement a long-term development strategy, strengthen its market position, increase customer confidence and open new opportunities for credit projects for borrowers. "

On July 29, 2016, the international rating agency JCR Eurasia Rating confirmed the long-term rating on the national scale of PJSC "CREDITWEST BANK" at the level of "AA- (Ukr)" and the short-term rating on the national scale at the level of "A-1 + (Ukr)" with the forecast " Stable ", which indicates that the bank has investment grade credit ratings. JCR Eurasia Rating also affirmed long-term international ratings in foreign and national currencies at “BB-” with a “Stable” outlook, which is higher than the country's rating.

Cooperation with the Black Sea Trade and Development Bank (BSTDB), an international financial organization headquartered in Thessaloniki, Greece, has provided $ 5 million US loan to PJSC CREDITWEST BANK.

Funding is provided under the revolving trade finance program.

The program of revolving trade financing will help support the international business of clients of PJSC "CREDITWEST BANK", namely: expanding the financing of those clients who import goods from the member countries of the BSTDB and support the export of goods from Ukraine.

Such cooperation will contribute to the economic benefits for the Ukrainian economy through additional export revenues, tax revenues and increased economic activity within the framework of the financing provided.

2017

At the general meeting of shareholders of PJSC "CREDITWEST BANK", which took place on April 24, 2017, it was decided to increase the authorized capital of the Bank to UAH 204.9 million by increasing the nominal value of the Bank's shares at the expense of profit received in 2016.

Profit of PJSC “CREDITWEST BANK for 2016 amounted to UAH 30.9 million, of which UAH 2.4 million was directed to the Bank's funds, and UAH 28.5 million - to increase the authorized capital.

We also note that according to the results of the diagnostic survey conducted by the National Bank of Ukraine taking into account the stress scenario, PJSC "CREDITWEST BANK" does not require recapitalization.

As of March 31, 2017, the regulatory capital of the Bank amounted to UAH 348.9 million, which significantly exceeds the requirements of the National Bank of Ukraine regarding the minimum amount of regulatory capital.

2018

According to the results of the diagnostic survey conducted by the National Bank of Ukraine taking into account the stress scenario, PJSC "CREDITWEST BANK" emphasizes the absence of the need for recapitalization.

2019

PJSC "CREDITWEST BANK" completed the procedure of increasing the authorized capital by 31.7% (or by UAH 65 million) to UAH 269.93 million within the long-term development program of the Bank.

On December 27, 2019, the authorized national rating agency IBI-Rating confirmed the long-term credit rating of JSC "CREDITWEST BANK", according to the National Rating Scale, at the level of "uaAA +", the forecast "Stable".

IBI-Rating also confirmed the Reliability Rating of Bank Deposits of JSC "CREDITWEST BANK" at the level of 5+ "Excellent Reliability".