OREANDA-NEWS. January 11, 2007. Moody`s Investors Service said it assigned National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU) a bank financial strength rating (BFSR) of `E+`, long and short-term local currency deposit ratings of `Ba3/Not Prime` and long-term and short-term foreign currency deposit ratings of `B3/Not Prime` with a stable outlook, reported the press-centre of NBU.

Moody`s said NBU`s ratings reflect the bank`s strong franchise value within the context of Uzbekistan, where the bank has a dominant share in terms of assets, capital and loans, as well as the bank`s utmost importance for the Uzbek economy given its major role in attracting and conducting foreign investments to the country and servicing foreign trade operations.

However, NBU`s ratings are constrained by its current low profitability and cost-efficiency, the low diversification of its funding base and a degree of uncertainty relating to the bank`s asset quality, as well as its corporate governance and risk management practices, which are currently at the process of development.