Long-term and short-term foreign currency deposit rating of Ipoteka Bank affirmed at B2/NP. The global rating of local currency deposit affirmed at B2.

The rating take into account strong position of the bank in the corporate and retail markets, in particular, in retail deposit and mortgage crediting, as well as high importance of the bank for the banking system of Uzbekistan as a whole, the press service of the Uzbek bank said.

The agency also noted stable position of the bank on liquidity and liquid assets. Deposits of clients are main source of funding of Ipoteka Bank, which is considered as stable source of fundung.

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.