In the Satndanrd & Poor’s opinion, Uzbekistan-based JSCM Ipoteka Bank has an adequate business position, adequate capital and earnings, a moderate risk position, average funding, and adequate liquidity.

S&P are assigning their B+ long-term and B short-term counterparty credit ratings to Ipoteka Bank. The stable outlook reflects their expectation that the bank’s business and financial profiles will remain broadly unchanged over the outlook horizon of one year.

The ratings on Ipoteka Bank reflect S&P’s view of the bank’s adequate business position, adequate capital and earnings, moderate risk position, average funding, and adequate liquidity, as our criteria define these terms. The stand-alone credit profile is b+.

Under S&P’s bank criteria, they use the Banking Industry Country Risk Assessment (BICRA) economic and industry risk scores to determine a bank’s anchor, the starting point in assigning an issuer credit rating. Their anchor for a commercial bank operating only in Uzbekistan is b+.

Joint-stock commercial mortgage bank Ipoteka Bank was founded in 2005 based on “further development of residential construction and housing market” as a result of the merger of Uzjilsberbank and Zamin Bank. Ipoteka is expanding its activity and extending its range of services. Share capital currently makes up UZS 64.3 bln. At present, Ipoteka has a wide network of branches comprising 37 branches and 128 mini banks opened in all regions of the Republic of Uzbekistan, and offers modern banking services to over 70 thousand business entities and 680 thousand individuals.

Main activity of the bank is directed towards attracting available funds of companies and population, and on its basis stimulating the development, financing of the economy, and actively participating in economic reforms carried out in our country.