Standard & Poor’s affirmed rating of joint stock commercial mortgage bank “Ipoteka Bank at the level of B+/B. The outlook is stable.

Long-term credit rating B+ and short-term credit rating B of Ipoteka Bank is based on assessment of the business position of the Uzbek bank, high growth assets, decrease of risks and stable level of income of the bank.

The rating reflects improvement of quality of assets, stable market position of the bank in corporate sector, diversification of deposit base, enough level of liquidity and risks related with assets concentration.

Moody’s also affirmed rating of financial sustainability of Ipoteka bank with stable outlook.

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 ratings of Moody’s are based on solvency of the bank, its role in the banking sector, including in retail deposits and mortgage crediting, etc.

The agency underlines stable market position of Ipoteka Bank in corporate and retail banking markets of Uzbekistan, sustainable income and sustainable capitalization level.