The uzA+ rating means very high solvency of Uzpromstroybank, which reflects very low credit risks at its activities. The holder of the rating has high potential to execute its financial liabilities before creditors, depositors and investors in time and fully.

Being one of the largest commercial banks of Uzbekistan, Uzpromstroybank demonstrates stable growth of financial figures. In 2011, the assets of Uzpromstroybank increased by 79.44% year-on-year to 3.46 trillion soums.

At the same time, the volume of loan portfolio of the bank rose by 62.51% and made up 2.312 trillion soums, or made u 66.81% of the bank’s assets. It is necessary to note that other income-bearing assets rose 3.4 times to 748 billion soums, or 21.62% of total assets.

Interbank assets of Uzpromstroybank grew 4.2 times and reached 670 billion soums and their share in total assets made up 19.37%. Income-bearing assets of Uzpromstroybank rose 87.1% year-on-year to 3.003 trillion soums and their share made up 86.79% of total assets.

Corporate clientele base of Uzpromstroybank is one of the largest among similar bank and it is formed due to large industrial enterprises of key industries (oil and gas, energy, chemistry, etc). The loan portfolio is concentrated in industry sector. In 2011, some 66.9% of loans were issued to industry sector (46.5% in 2010), 10.6% - construction sector (19.5%), 10.4% - transport and communication (13.2%), and 5.2% - other sector (8.6%).

In the reporting period, some 94.4% of loans were rated as good, 1.98% as standard, 3.2% as doubtful, and 0.23% - as bad. In 2011, the ratio of reserves to bad loans of the bank made up 47.56% (24.8% in 2010).

Funding base of Uzpromstroybank is mainly formed due to accounts of clients. The deposits and attracted money resources grew by 67.1% and reached 47.57% of the bank’s liabilities. The ratio of loan portfolio to deposits and attracted funds made u 76.39%. Term resource base of Uzpromstroybank increased 2.2 times year-on-year in 2011. In the result, the ratio of loan portfolio to term resource base decreased from 164.32% in 2010 to 119.99% in 2011.

Liquid position of Uzpromstroybank is rated as high. In 2011, the liquid assets of the bank grew 2.4 times to 27.45% of the bank’s assets (19.96% in 2010). At the same time, current assets and current liabilities of the bank grew by 119.8% and 48.83% respectively. In the result, the coefficient of current liquidity of the bank reached 79.38% (53.75% in 2010).

In the reporting period, the profitability figures strengthened. The credit rates decreased in 2011, while interest income increased by 23.62%, while interest expenses fell by 6.04%. This impacted interest margin and interest spread, which made up 3.25% and 3.16% (2.69% and 2.34% in 2010) respectively.

Ahbor-Reyting underlined that profitability of loan portfolio of Uzpromstroybank is at stable level and it made up 5.47% in 2011. Operational income of the bank grew by 54.41%, while expenses rose by 55.02%. At the same time, the ratio of expenses to operation income grew from 87.08% in 2010 to 87.42% in 2011.

Uzpromstroybank’s net income increased by 50.35% and made up 22.6 billion soums (15 billion soums in 2010) in 2011. At the same time, the profitability of the assets slightly fell from 0.86% in 2010 to 0.84% in 2011, while profitability of own capital grew from 8.45% in 2010 to 11.07% in 2011.

Ahbor-Reyting believes that in short term perspective, the profitability of Uzpromstroybank will continue growth and will be in favourable level.

Capitalization level of Uzpromstroyank rated at acceptable level. Own capital of the bank jumped by 22.7% to 224.9 billion soums. Equity capital of the bank rose by 19.49% to 148.7 billion soums.

The agency said that the bank will keep capital adequacy at high level and will ensure “margin of safety” of the bank’s capital in near future. In 2011, the coefficient of general capital and the first level capital made up 11.7% and 10% (11.2% and 11.1% in 2010) respectively in 2011. At the same time, own capital adequacy decreased from 9.51% in 2010 to 6.5% in 2011.

Holding one of the leading positions in the banking sector of Uzbekistan, Uzpromstroybank plays key role in economy of the country and the banking sector.

Ahbor-Reyting believes that the bank has good growth perspectives and the bank will keep its position in the banking sector. In the reporting period, the bank holds third position on the volume of the bank’s assets (12.98% of total assets of the banking system). The market share of the bank on capital volume made up 6.64% (the 5th place), loan portfolio – 15.96% (2), on investments – 6.7% (4), on deposits – 10.77% (3) and deposits of individuals 6.66% (5).