Moody’s updated its forecast for the largest Ukrainian banks.

International rating agency Moody’s confirmed the long-term and short-term ratings of Privatbank, Oschadbank, Ukreximbank, Raiffeisen Bank, Taskombank, Vostok and Pivdenny banks in hryvnia and foreign currency at Caa3/NP. The agency also improved the outlook for long-term deposit ratings for all specified banks from negative to stable.

“The confirmation of the long-term ratings of the banks and the change in their forecast to stable from negative reflects the stability of their financial indicators, despite the challenging operating environment in Ukraine,” Moody’s analysts emphasized.

According to their estimates, Ukraine’s economy demonstrated resilience to hostilities last year, and banks managed to stabilize asset quality, increase profitability, and accumulate sufficient capital and liquidity to withstand unexpected shocks.

Rating indicators reflect Moody’s expectations that the banking system will be operational in the next year and a half. And if necessary, banks will receive liquidity support from the NBU.