Assets of Uzbek banks reached 39.4 trillion soums

UzReport 29.10.2013

     In an expanded meeting of the Board of the Central Bank of the Republic of Uzbekistan on the results of the banking system for the 9 months of the year, led by the Chairman of the Central Bank Fayzulla Mullajonov, it was noted that the current level of capital adequacy ratio of the banking system of Uzbekistan is 23.7%, which is 3 times higher than the requirements of the Basel Committee on International Banking Supervision (8%). As of October 1, 2013 the capital of banks in Uzbekistan reached 6.4 trillion soums.
     Assets of banks of Uzbekistan as of October 1, 2013 totaled 39.4 trillion soums, an increase compared to the same period last year by 30.9%. At the same time, for several years, the level of liquidity of the banking system exceeds 65%, which is 2 times the specified minimum level.
     Implementation of effective banking supervision on the basis of international standards, continuous monitoring of bank liquidity and asset quality has given the country's banks the opportunity to get positive ratings from leading international rating agencies.
     The credit rating with "Stable" outlook, assigned in August 2013, by international rating agency Moody's, 4th year in a row confirms this fact.
     Currently, all 29 commercial banks of Uzbekistan have ratings from such international rating agencies as Fitch Ratings, Moody’s and "Standard & Poor’s with "Stable" outlook.