International rating agency Moody’s Investors Service has upgraded the long-term deposit ratings of joint-stock commercial Asia Alliance Bank in national and foreign currency from B3 to B2.
“The outlook on all long-term deposits is set as ‘Stable’,” reported the bank’s press service.
According to Moody’s, the increase in ratings with a stable outlook was conditioned by the capacity of the bank to retain stable financial performance, enhance diversification of its activities and expansion of the branch network, as well as the agency’s expectation of further expansion of the bank’s funding sources.
The international reputable financial magazine Euromoney acknowledged Asia Alliance Bank as Uzbekistan’s best bank, and entitled it to ‘Awards for Excellence 2016’.
Today, all the leading international rating agencies like Moody’s, Standard & Poor’s and Fitch Ratings assess the prospects of the banking system of Uzbekistan at ‘stable’. In 2010, 15 commercial banks of the country had a positive rating, while to date all commercial banks in Uzbekistan have been rated so high. From the point of view of national performance, all indicators of development and financial stability of the banking system in Uzbekistan meet ‘the highest level’.