Moody's international rating agency recently published a report confirming the Uzbek banking system as stable for the fifth consecutive year.
Moody's said the stable forecast is based on the high rate of economic growth in Uzbekistan and the considerable volume of investments. Uzbekistan's annual economic growth rates exhibited significantly lower volatility than growth in other CIS nations due to diversification, the Uzbekistan National News Agency reports.
The report found steady dynamics in the quality of assets of Uzbek banks, particularly the encouraging trends in capital investments, suggesting stability in the assets.
The total sum of assets of Uzbekistan's commercial banks increased by 30 percent in 2013. Uzbek commercial bank assets grew 3.6 times in the past five years. Targeted measures meant to boost the capitalization of the banking system also helped the aggregate capital of banks to grow 3.5 times during the same time period.
Uzbekistan's level of capital adequacy in the banking system is three times as high as the universal international standards.
Current liquidity in Uzbek banks exceeded 65 percent in the past few years, which is twice as much as the fixed minimum.
Moody's suggested that Uzbekistan's high economic growth rates will ensure a favorable operating environment for banks for the next 12-18 months, the Uzbekistan National News Agency reports.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme