The rating reflects positive reputation and image of the bank, strong position in corporate and retail markets, high quality assets and good level of risk management, balanced liquid position and adequate capitalization.

The rating takes into account decrease of several figures, but achieved positive financial results in 2010. The good level of corporate management and firm strategy of the bank, directed at business diversification and regional expansion, gives additional business stability.

In 2010, the quality of the assets is rated as acceptable. So, in the reporting unsecured loans of the bank fell by 27.18%. At the same time, their share in structure of loan portfolio of Kapitalbank decreased from 2.68% in 2009 to 2.4% in 2010.

The bank’s loan portfolio in the reporting period made up 128.7 billion soums. Main part of issued loans was long-term. So, over 57.88% of issued loans had over maturity term of a year. The main loan guarantees were real estate (60.16%), equipment (16.24%), guarantee of third sides (7.86%), transport (7.47%) and money resources (5.53%) and others.

Liquid position of Kapitalbank is rated as acceptable. Despite being short-term, the base of borrowed funds of Kapitalbank s rated as flexible enough and high. At the same, the structure of bank’s funding is better compared to other banks and has good level of diversification. The bank has high level of liquid assets compared to the similar banks, which mad up 34.59% in 2010. The coefficient of current liquidity of the bank made up 56.71% in 2010 against 60.45% in 2009.

Capital base of Kapitalbank allow to support capital adequacy level in higher level compared to the normative level. In 2010, the equity capital of the bank increased by 19.62% year-on-year in 2010 to 16.9 billion soums. The figure of common capital adequacy and the first level capital adequacy made up 13.9% and 14.6% respectively.

The stable outlook reflects expectations of Ahbor-Reyting that Kapitalbank will hold it strong position in the market and keep high quality of assets and good level of risk management, balanced liquid position and adequate capitalization, as well as positive financial results.