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Finance 24/08/2010 Moody’s confirms ratings of Asaka Bank
Moody’s confirms ratings of Asaka Bank
Tashkent, Uzbekistan (UzDaily.com) -- Moody’s Investors Service Ltd. confirmed on 29 July 2010 global-scale ratings to State Joint-Stock Commercial Bank "Asaka" (Asaka Bank).

The bank confirmed financial strength rating ("BFSR") of E+, long-term and short-term local currency deposit ratings of Ba3/Not Prime, and long-term and short-term foreign currency deposit ratings of B32/Not Prime. All ratings carry a stable outlook.

Moody’s Investors Service Ltd. Assigned the previous rating on 17 December 2009, when the agency raised rating on local and hard currency ratings of Asaka Bank after re-assessment of possible support of the Government of national economy and local banking system.

The bank underlined that new rating confirms reliability of the bank and strengthens trust of the population to Asaka Bank and the banking system overall.

Asaka Bank said that it carrying active work on increasing capitalization level, ensure financial sustainability and liquidity in line with requirements of international standards, improving loan portfolio quality, etc.

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