12/03/2026

On 10 March 2026 international rating agency Fitch Ratings (Fitch) upgraded The State Export-Import Bank of Ukraine JSC (Ukreximbank) Viability Rating (VR) to 'ccc' from 'ccc-' and affirmed Long-Term Foreign-Currency Issuer Default Rating (LTFC IDR) at 'CCC' and Long-Term Local-Currency Issuer Default Rating (LTLC IDR) at 'CCC+'.

The VR upgrade reflects improved capitalisation with widening capital buffers above regulatory minimum capital requirements, Fitch expectations of sustained adequate capitalisation, and reduced risk of capital impairment from encumbrance by unreserved impaired loans, supported by continued internal capital generation.

The upgrade also reflects higher profit retention in CET1 than previously assumed in 2025 due to lower tax expenses resulting from legislative changes.

Ukreximbank’s National Long-Term Rating of ‘AA(ukr)’ reflects the bank’s creditworthiness in local currency relative to other Ukrainian issuers.