JSC “National Bank for Foreign Economic Activity of the Republic of Uzbekistan” as being one of the largest banks in Uzbekistan has been operating for 29 years. . The stability of this financial institution is approved by the assessments of reputable international rating agencies such as Standard & Poor’s, MOODY’S, Fitch.
On June 9, 2020, Standard & Poor’s affirmed its credit ratings on NBU at BB-/B with Negative Outlook. This outlook mainly reflects the negative outlook on the sovereign rating of Uzbekistan, that the agency revised earlier this year.
On July 28, 2020 the MOODY’S affirmed B1 long-term local currency deposit rating and B2 long-term foreign currency deposit rating of NBU. The deposit ratings outlook is Stable, which confirms that NBU will have the stable market position and financial performance in the next 12 months.
Moreover, the Fitch Ratings on August 19, 2020 affirmed the Issuer Default Rating of NBU, in particular its long-term rating at BB- with the Stable Outlook and short-term rating at B. The Stable Outlook similarly reflects the outlook on the sovereign rating.