OREANDA-NEWS. On January 29, 2007 Akhbor-Rating Interbank Rating Agency has affirmed UzPromStroyBank Commercial Bank's solvency rating at "uzA+" (high) on the national scale, reported the press-centre of Uzpromstroybank.

The "uzA+" rating implies high level of the bank's solvency, and reflects very low level of credit risk. The bank is characterized by very high potential to meet its financial obligations timely and fully, this potential is higher compared to other banks functioning in Uzbekistan.

UzPromStroyBank is one of the largest banks in Uzbekistan according to the main parameters of its activity. In the first nine months of 2007 the bank's market share in terms of the total assets made up about 9%, in terms of the total capital – 6%, in terms of the credit portfolio – 10%, and in terms of clients' deposits – 13%.

The bank's rating takes into account high level of recognition of the bank's brand within the country and abroad, the fact that it is being supported by the state, the adequate level of the bank's capitalization, stable client and resource base, as well as substantial scale of the bank's crediting and investment activity.

The bank's competitive advantage is the fact that among its major clients are the enterprises of the oil and gas industry, construction and energy complex of the country, which allows the bank to maintain its stable position in the market for financial services and expand the scale of its activity.

UzPromStroyBank provides a wide range of universal banking services, including corporate and different types of banking services, trade financing and foreign currency operations. As of 1 October 2007 the number of the bank's corporate clients exceeded 40,000, and the number of its private clients – 953,000 individuals.

As a large investment financial institution, UzPromStroyBank takes an active part in the economic reforms in the country by financing the projects in the strategically important sectors of the economy and supporting small business entities. The share of the bank's loans to the enterprises of the oil and energy, chemical, textile, and machine-engineering industries makes up more than a half of the bank's total credit portfolio.

The bank's retail services are one of the highly prospective areas of the bank's activity. As of 1 October 2007 the loans given out to private clients made up 34,4 billion soums. This includes mainly consumer loans. Moreover, the bank is among the leaders in terms of the volume of deposits taken from the population. As of 1 October 2007 the volume of deposits taken from individuals made up more than 14% of all deposits taken from the population in the country.

The volume of the bank's assets is growing fast. In 2004-2006 the average growth rate of the bank's assets made up 30%. In the first nine months of 2007 the bank's assets grew by 32,7% to 898,1 billion soums.

The capital adequacy indicators are kept at the normal level. UzPromStroyBank is among five largest banks of the country in terms of equity capital. At the end of the reporting period the bank's total capital comprised 76,9 billion soums.

The bank's capitalization is supported by high indicators of capital formation. In November 2007 the bank successfully completed the placement of stock for some 10 billion soums. In the late 2007 the General Shareholders Meetig decided to increase the bank's equity capital through additional stock floats by 60 billion soums. According to the Programme on Intensification of Reforms and Development of the Banking System of the Republic of Uzbekistan for 2007-2010, approved by the Presidential Resolution No. 726 "On measures to further develop the banking system and involve idle funds in the banking circulation" of 7 November 2007, in 2007-2010 the bank's capital is to be increased by 125 billion soums.

Fast asset growth is supported by the strengthening of the bank's resource base. The intensification of reforms in the strategically important sectors of the economy and intensive deposit policy of the bank allows it to maintain a stable growth of the deposit base by over 100 billion soums yearly and reinforce its position among the top three leaders of the banking sector.

In 2004-2006 the dynamics of the bank's earnings illustrate a stable growth trend. The average yearly income growth rates made up about 30% on average. High quality of the bank's resource base allows it to maintain a favourable level of liquidity and diversify the sources of income generation. The current liquidity ratio remained high in 2004-2006. As of 1 October 2007 it made up 77,6%.