The rating reflects high business activity of the bank in the market, dynamic development of commercial network, adequate capitalization and balance liquid balance. The rating takes into account risks, related with high growth of assets and geographic concentration of the business.

Firm strategy, directed at expanding business scale and strengthening the bank’s position at the market, as well as support of shareholders provides additional stability to the business of Trust Bank. The rating also takes into account sustainable and strengthening market position of Trust Bank among compared bank, especially in such figures as aggregate assets, deposit portfolio, investment portfolio and cpital base.

The agency underlined that Bank’s business scale increased in high temps. The assets of the bank rose 45.16% year-on-year to 428.6 billion soums in the first quarter of 2011. The loan portfolio made up 92.95% compared to the same period of 2010. Other income-bearing assets, such as inter-banking assets, rose by 42.91% year-on-year to 30.43% of total assets.

Trust Bank is active participant of investment programme. The bank’s investment portfolio reached 17.05 billion soums in the first quarter of 2011, or grew 20 times year-on-year and its share in assets reached 3.98% (0.29% in 1Q 2010). At the same time, the volume of income-bearing assets of the bank rose by 71.18% year-on-year to 59.57% of the assets.

Quality of assets rates as in acceptable level in the reporting period. In the first quarter of 2011, the balance sheet of Trust Bank had no bad loans. About 89.22% of loans rates as good and 7.38% loans as standard.

At the same time, the accrued reserves for possible loan losses made up 1.69% (2.02% in 1Q 2010) of the bank’s loan portfolio. Simultaneously, the volume of large loans made up 41.1 billion soums or 37.6% of loans. At the same time, the maximum size of risks on all large loans of the banks made up 1.039, while normative level is 8. Besides, the volume of loans related to affiliated persons made up 3.99% of loan portfolio, which is positively rated by Ahbor-Reyting.

Total liquid assets of the bank rose by 15.57% and made up 46.18% (58.01% in 1Q 2010) of the bank’s assets in the first quarter of 2011. Simultaneously, current assets and current liabilities rose by 16.16% and 47.41% respectively.

Taking into account high growth of loan portfolio of the bank, the ratio of loan portfolio to deposits and attracted resources at money market increased from 29.49% to 36.42%, which shows that the bank has enough potential for further increasing income-bearing assets, thus loan portfolio.

The increasing own capital is important part of Trust Bank development strategy. In the first quarter of 2011, the own capital rose 68.41% to 45.1 billion soums. To meet requirements of the regulator, the bank issued 8.7 million ordinary shares with par value of 1,000 soums. The emission was fully placed and equity capital rose up to 15 billion soums.

The growth of capital base in the first quarter of 2011 allowed to improve coefficient of capital adequacy. The coefficient of general capital and capital of the first level made up 17.3% and 16.5% respectively (14.6% and 14.4% in 1Q 2010) in the reporting period. The coefficient of leverage rose from 8.2% in the first quarter of 2009 to 9.2% in the same period of 2011. At the same time, the level of capital base adequacy rose from 9.07 to 10.52.