OREANDA-NEWS. January 27, 2010. Standard & Poor's international rating agency has monitored the rating of the National Bank of Uzbekistan for Foreign Economic Activities (NBU) and confirmed the bank's credit ratings at B/Stable/B level.

The agency's report, released on 20 January 2010, says the main positive factors affecting the ratings of NBU were leading commercial positions in the sphere of international trade and investments, diversified resource base and moderate refinancing risk, as well as adequate capitalization and liquidity.

Besides, S&P analysts note the very important role of NBU in the Uzbek economy, owing to which the bank has a high possibility of getting emergency state support.

The report underlined NBU's well diversified resource base. As of 30 September 2009 deposits of individuals accounted for 41% of the bank's resource base, and 24% - foreign credits allocated mainly by export credit agencies and banks.

The bank's capitalization is estimated as adequate. According to S&P forecasts, the ratio of adjusted own capital to adjusted assets is at an adequate level of 14% by the end of 2009. Liquidity level is high due to effective assets and liabilities management.