Rating of uzA characterizes high potential for timely and full execution of financial liabilities of the bank before creditors, depositors and investors.

Outlook stable stipulates further growth of the bank’s role in the sector in background of strong state support and reflects expectations of Ahbor-Reyting on supporting good quality of assets, further diversification of business and funding base, as well as keeping firm market positions in the bank in internal market.

The agency noted that Microcreditbank improved its financial results for last three years in context of fast growth of business scale and provided tax preferences. Relatively low prime cost of funding of the bank (at the support of the government) allows Microcreditbank to render service in lower prices compared to average market prices, but allows to have good margin.

For last several years Microcreditbank’s businesses is growing with high temps. Assets quality of the bank is evaluated as good at the context of favourable economic climate. In 2009, the volume of loan portfolio of the bank made up 244.7 billion soums, or grew by 54.5% year-on-year.

In nine months of 2010, the Microcreditbank’s loan portfolio rose by 22.7% year-on-year to 437.8 billion soums. The volume of micro loans made up 65.3 billion soums and microleaing services – 27.8 billion soums.

Main part of funds of Microcreditbank receives due to borrowing from state organizations. Microcreditbank has high funding opportunities. Strong support of the government will ensure Microcreditbank with high funding assets due to own resources.

As of 30 September 2010, the capital adequacy and first level capital made up 31.8% each. The agency noted that the borrowed finances of the bank are mainly short-term. As of 30 September 2010, only 5.4% of the bank’s liabilities have repayment term less than a year. But, the state support and access to borrowings from the state organizations, Microcreditbank’s funding opportunities are higher than other banks in the market.

The agency added that Microcreditbank capitalization is considered as high. The rating reflects readiness of shareholders of Microcreditbank to support the bank’s capital, if required.