Octobank received an international credit rating from Moody’s with a “Stable” outlook

One of the largest rating agencies in the world, Moody's, has assigned Octobank a long-term international credit rating of B3. The rating outlook is stable.

According to Moody's estimates, by the end of 2024, Octobank has high financial performance: net profit amounted to 144 billion sums, return on assets — 4.8%, almost 80% of assets are liquid. The bank has a high level of capital: the capital adequacy ratio of the first level is 38%, the total capital adequacy ratio is 48.3%, which is almost twice the regulatory requirements and provides resilience to possible economic challenges.

Moody's expects the bank's financial position to remain stable over the next 12-18 months. With the launch of new products, the expansion of the customer base and the maintenance of current indicators, Octobank's rating may increase, the agency reports.

"This is the first international rating for Octobank, and we see that our bank's development course has been chosen correctly. The Moody's rating will help us build even more stable relationships with international partners and make us more visible in the global market. We have ambitious plans to launch new products and services, and this will be the main driver of our bank's growth in the coming years," noted Iskandar Tursunov, Chairman of the Management Board of Octobank.

Octobank is a universal private bank that has been operating in the Uzbek market for more than 20 years. The Bank develops its digital infrastructure, serves more than 3 million individuals and over 2,500 corporate clients.

Moody's is one of the leading international rating agencies in the world. The Agency analyzes financial performance, business model, risk management and resilience to economic challenges.