According to Moody’s, the ratings of Ipoteka Bank reflects strong position of the bank in corporate and retail markets, including in retail deposits and mortgage crediting, as well as high importance of the bank in the banking system of Uzbekistan.

The bank records high growth of assets, sustainable figures of profitability and adequate level of liquidity. Deposits of clients and state resources are main sources of funding, which is rated as stable sources of funding by the agency, the Uzbek bank said in a statement.

Moody’s underlined that Ipoteka Bank is one of the five largest banks of Uzbekistan and provides services via its wide-scale network of branches and divisions, which covers almost all regions of Uzbekistan.

The agency expects that profitability level of Ipoteka Bank will be strong in next 12-18 months and supported with the growth of credit portfolio. Liquidity of the bank will be at adequate level in 12-18 months thanks to adequate level of liquid assets and stable funding.