Representatives of Central Bank of Uzbekistan, Ministry of Economy, Uzbekistan Banking Association and commercial banks participated at the event.

The participants considered methodology of management of credit risks, assignment of sovereign ratings, trends in rating markets, current state and perspectives of the banking system, etc.

It was noted that 28 commercial bank of Uzbekistan has stable ratings from international rating agencies, of which 13 received ratings from Moody’s.

For last three years, Moody’s forecast stable growth of the banking system. It was noted that Uzbekistan holds leading position in the CIS area.

Moody’s experts underlined that Uzbek banking system has strong operational environment, which was formed due to macroeconomic conditions, low public debt and growth of internal consumptions. Fast growth of financial services and development of small businesses create good conditions to expand crediting. Quality assets, capital adequacy, low dependence from external source, financing due to internal resources are decreasing global risks.

Moody’s forecasts that Uzbek banking system will continue to develop in near future. Economy of Uzbekistan is export-oriented and the government stimulates economic growth due to large infrastructure projects, modernization, etc.