The assigned rating of Trust Bank reflects leading position of the bank in the market, high reputation and image of the bank, high level of risk management, acceptable liquid position and high capitalization, as well as rapidly growing financial results of its activities and support of the shareholders.

The rating also takes into account short-term funding base and risks related to rapid growth of assets. Strategy of development of Trust Bank business is directed at strengthening position of the bank in the market and growth of business scale gives additional stability to the bank’s business.

Being one of leading private banks in Uzbekistan, Trust Bank demonstrates stable growth of main figures of its activities. In the first quarter of 2013, the assets of Trust Bank rose by 29% year-on-year to 632.9 billion soums. Gross loan portfolio rose by 27.68% to 176.2 billion soums at the end of the first quarter of 2013.

At the same time, Ahbor-Reyting underlined that loan portfolio of Trust Bank is highly concentrated. Some 53.07% of loans were issued to industrial sector in the first quarter of 2013 (51.46% in 1Q 2012), trade and catering enterprises – 15.46% (22.08% in 1Q 2012), agriculture – 8.95% (1.55% in 1Q 2012), construction – 8.82% (6.49% in 1Q 2012), transport and communication – 0.68% (0.1% in 1Q 2012) and other sectors – 10.38% (12.14% in 1Q 2012).

Trust Bank’s liquid position is rated as acceptable. In the first quarter of 2013, liquid assets rose by 30.8% to 298.6 billion soums or 47.19% in total assets. (46.54% in 1Q 2012). At the same time, the coefficient liquidity of Trust Bank rose from 60.89% in the first quarter of 2012 to 63.06% in the same period of 2013. The ratio of loan portfolio to deposits and attracted resources in the money market made up 39.15% in the reporting period (41.9% in 1Q 2012).

Clientele accounts are main source of funding of Trustt Bank, which made up 80.01% of total assets in the first quarter of 2013. At the same time, total deposits of the clients rose by 32.39% and made up 426.3 billion soums in the first quarter of 2013 or 96% of all attracted resources of the bank. In the first quarter of 2013, term resource base of Trust Bank grew by 47.75% year-on-year to 68 billion soums. Ratio of loan portfolio to term resource base fell by 13.58% to 258.94%

Trust Bank’s capitalization is rated as acceptable. In the first quarter of 2013, own capital of the bank rose by 28.81% to 77.9 billion soums (60.5 billion soums in 1Q 2012).

Equity capital of Trust Bank grew by 28.88% and made up 22.6 billion soums in the first quarter of 2013. Undistributed income rose by 27.77% to 51.1 billion soums. Capital adequacy of Trust Bank is rated as acceptable. In the first quarter of 2013, the coefficient of general capital and the first level capital of Trust Bank made up 18.7% and 18.7% (19 and 19.3% in 1Q 2012) respectively.