PrivatBank has taken the top place in the transparency ranking of Ukrainian banks
The largest Ukrainian bank PrivatBank has been recognised as the leader in the banks’ transparency ranking compiled by the Ukrainian Credit Rating Agency (UCRA).
According to the UCRA research, conducted for three years consecutively, PrivatBank was acknowledged as the best bank by the quality of information disclosure in 2014 (disclosure index is 74.88%), the First Ukrainian International Bank (FUIB) took the second position (74.13%) and VTB Bank (71.63%) – the third.</p><blockquote>PrivatBank’s website is designed not only as an important information resource where our customers can obtain all the necessary information about the bank and its services, but also as an interactive communication channel where with a couple of clicks one can order a card, apply for a deposit, transfer money and use many other services.</blockquote><p>Leading banks’ websites, in addition to mandatory disclosures, contain data on related companies and transactions with them, interim IFRS financial statements and also internal documents (regulations on corporate governance and governing bodies, risk management policy and dividend policy). "PrivatBank’s website is designed not only as an important information resource where our customers can obtain all the necessary information about the bank and its services, but also as an interactive communication channel where with a couple of clicks one can order a card, apply for a deposit, transfer money and use many other services," – says Sergii Danylenko, PrivatBank Marketing Director. – "The importance of this for customers is confirmed at least by the fact that PrivatBank’s website is one of the most popular online resources in Ukraine with search engines and social networks." In the research UCRA has analysed information disclosure on websites of Ukrainian banks that are classified by the National Bank of Ukraine as the first and second group by the sum of assets. The research results do not reflect banks’ financial reliability but indicate their willingness to disclose information to users. "The purpose of this research is to analyse the quality of information disclosure, which includes its completeness and timeliness", – stated Stanyslav Dubko, UCRA CEO. According to Dubko, experience of the leading banks shows that their efforts to maintain the achieved level of transparency are entirely reasonable in unstable economic conditions, when it is necessary to strengthen the confidence of depositors and investors. PrivatBank Press Center +380 92 716-08-81 email@example.com