The rating of Savdogar Bank reflects high business activity of the bank in the market, dynamic developing commercial network, adequate capitalization and balanced liquid position. The rating takes into account risks, related with the growth of assets and geographic concentration of the business. Firm strategy, directed at expanding business scale, and support of shareholders give additional stability of the business.

The assets of the bank increased by 14.92% yea-on-year in the third quarter of 2011 and reached 220.,.3 billion soums. In the reporting period, the loan portfolio of the bank increased by 14.44% and reached 137.85 billon soums or 62.58% of the bank’s assets. Main part of loans was allocated to agriculture sector – 29.41%, trade and catering – 20.64%, industry – 16.54% and others. Besides, investment securities of the bank increased to 0.92% of total assets of the bank. Interbank assets of Savdogar Bank decreased by 18.57% and its share in total assets made up 2.66%. At the same time, total income-bearing assets of the bank increased by 12.73% and its share in total assets made up 66.16% (67.45% in 3Q 2010).

In the reporting period, liquid position of Savdogar Bank rated as acceptable. Total liquid assets of the bank increased by 23.21% and made up 23.18% of total assets. At the same time, current assets and current liabilities grew by 24.1% and 25.33% respectively in the third quarter of 2011.

At the same time, the coefficient of Savdogar Bank’s current liquidity was in stable level and made up 48.50% (48.92% in 3Q 2010). It is worth to mention that the ratio of loan portfolio to deposits and attracted resources at the money markets demonstrated growth and made up 88.93% (81.19% in 3Q 2010) in the reporting period.

In the third quarter of 2011, the main part of liabilities of the bank fell to share of the clientele accounts, which accounted 68.43% of total volume of liabilities. At the same time, total clientele deposits made up 90.55% (94.2% in 3Q 2010) of all attracted resources of the bank. About 77.66% of liabilities of the bank are with one year term, which means that borrowed funds of the bank are short-term.

It is worth to mention that in the reporting period long-term borrowings, as loans and leasing operations, made up 13.93% of the bank’s liabilities.

In the third quarter of 2011, term resource base of the bank fell by 58.60% and in the result the ratio of credits to resource base increased from 141.08% in the third quarter of 2010 to 396.88% in the third quarter of 2011.

Taking into account this, Ahbor-Reyting noted that the further growth of the figure, the bank may face difficulties to implement its liabilities before depositors. In this connection, in future Savdogar Bank should strengthen and support high level of current liability or increase the volume of long-term liabilities.

The figure of capital adequacy rated as acceptable. In the reporting period, the own capital of the bank increased by 81.07% year-on-year and reached 32.1 billion soums. It is worth to mention that equity capital of the bank grew by 76.01%, which made up 24 billion soums.

General capital and the first level capital adequacy was 20.2% and 16.7% (11.1% and 11.3% in 3Q 2010) respectively. In the background of high growth of capital of the bank, the level of own capital adequacy grew from 9.24% in the third quarter of 2010 to 14.56% in the third quarter of 2011.