The rating agency said the rating was withdrawn in connection with expiry of its term. Earlier, the agency assigned B+ “Sufficient level of solvency” to Hamkorbank.

Hamkorbank, headquarters in Andijan, focuses its activity on financing small and medium businesses in Uzbekistan. The bank’s assets made up US$153 million as of 1 January 2009. Own capital of the bank comprised US$18 million and pre-tax income reached US$5.5 million in 2008.