When compiling the rating, Fitch Ratings analysts emphasized the bank's developing business model, stable financial indicators, as well as high profitability and sufficient liquidity coverage.
On July 3, 2024 the international rating agency Fitch Ratings assigned Kapitalbank a long-term foreign currency Issuer Default Rating (IDR) of "B" with a stable outlook and a stability rating of "b".
The report published by the agency notes the bank's high profit growth rates over the last 3 years, return on equity at 50%, loan-to-deposit ratio at 90%, with an average of 200% in the market, and NPL ratio of 1.7%, which is one of the lowest in the sector.
— We are pleased to have our success recognized by one of the leading international rating agencies Fitch Ratings," says Kirill Mayevsky, Chairman of Kapitalbank's Management Board. — We are confident that the development strategy we have chosen, focusing on new market segments and prudent liquidity management, will keep providing Kapitalbank with sustainable growth and stable financial performance.
According to Fitch Ratings' forecast, Kapitalbank will pursue above-average growth rates (20-25% p.a. in 2024-2026).
Kapitalbank is one of the largest private bank in Uzbekistan. Its customers include more than 2 million retail customers and over 80,000 companies and entrepreneurs. Kapitalbank operates more than 100 branches and offices in every region across the country.
About Fitch Ratings
Fitch Ratings is one of the leaders in credit ratings, analytical research and commentary. Together with Standard & Poor's and Moody's, it is one of the "Big Three" of the world's most reputable rating agencies. It assigns ratings to financial institutions, banks, insurance companies, corporations, states and municipalities.
Fitch Ratings 2024
On July 3, 2024 the international rating agency Fitch Ratings assigned Kapitalbank a long-term foreign currency Issuer Default Rating (IDR) of "B" with a stable outlook and a stability rating of "b".
The report published by the agency notes the bank's high profit growth rates over the last 3 years, return on equity at 50%, loan-to-deposit ratio at 90%, with an average of 200% in the market, and NPL ratio of 1.7%, which is one of the lowest in the sector.
— We are pleased to have our success recognized by one of the leading international rating agencies Fitch Ratings," says Kirill Mayevsky, Chairman of Kapitalbank's Management Board. — We are confident that the development strategy we have chosen, focusing on new market segments and prudent liquidity management, will keep providing Kapitalbank with sustainable growth and stable financial performance.
According to Fitch Ratings' forecast, Kapitalbank will pursue above-average growth rates (20-25% p.a. in 2024-2026).
Kapitalbank is one of the largest private bank in Uzbekistan. Its customers include more than 2 million retail customers and over 80,000 companies and entrepreneurs. Kapitalbank operates more than 100 branches and offices in every region across the country.
About Fitch Ratings
Fitch Ratings is one of the leaders in credit ratings, analytical research and commentary. Together with Standard & Poor's and Moody's, it is one of the "Big Three" of the world's most reputable rating agencies. It assigns ratings to financial institutions, banks, insurance companies, corporations, states and municipalities.
Fitch Ratings 2024
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