The uzA rating reflects high potential of fulfilling its financial liabilities before creditors, depositors and investors in time and fully.

The assigned rating to Microcreditbank takes into account strong support of the government and development commercial network, high capitalization and adequate liquid position.

The rating takes into account risks related with fast growth of assets and positive financial results of its activities. The rating also considers significant role of Microcreditbank in conducting state policy on supporting small and private businesses, especially in rural area.

Good level of corporate management and firm strategy of the bank directed at further diversification of business and regional expansion gives additional stability to the bank’s business.

Microcreditbank is one of the banks in Uzbekistan with developed branch network. The bank rendered services through 82 branches, 281 mini-banks, 53 special cash offices, 99 exchange points and 245 money transfer points in the reporting period. In 2011, the bank is also planning to launch four more branches.

In 2010, the Microcreditbank’s assets rose by 18.11% and reached 2.12% in total assets of the banking sector. Microcreditbank entered to Top ten of the Uzbek bank on the volume of the assets. In the first half of 2011, the bank’s assets continued to grow and made up 2.73% of total assets of the banks in Uzbekistan. It held the ninth place on the assets volume among the Uzbek banks in the first half of 2011.

The clientele accounts made up 64.98% of total borrowed funds of Microcreditbank and 33.28% of them fell to share of borrowed funds from the government and state organization. The terms of borrowed funds are mainly short-term.

In 2010, over 8.75% of liabilities of the bank had repayment term for over a year. Besides, short-term resource base of the bank grew by 90.22% year-on-year. At the same time, the ratio of loans to term resource base fell from 348.5% in 2009 to 239.44% in 2010. Due to existence of the state support and access to resources of the state organization, opportunities of Microcreditbank’s is higher compared to many banks in Uzbekistan.

Microcreditbank is one of the banks in Uzbekistan with high capital base. In 2010, the equity capital of the bank made up 153.9 billion soums or 95.9% of own capital of the bank. In the reported period, total own capital grew by 1.86% year-on-year to 160.4 billion soums.

At the same time, common capital and capital of the first level of Microcreditbank, calculated at the international accounting standards, made up 40.3% and 40.9% (52.9% and 52% in 2009) respectively. Besides, the leverage coefficient fell from 43.6% in 2009 to 38.1% in 2010. Own capital adequacy made up 38.59% (44.75% in 2009). At the assessment volume, the capital adequacy of Microcreditbank rates as high compared to business scale of the bank.