The agency said that business scale of Microcreditbank grow in stable temps. In the result of the third quarter of 2012, the assets grew by 21.35% year-on-year to 798.1 billion soums. Assets of the bank grew thanks to 19.87% growth of income-bearing assets, share of which made up 84.63% in total assets (85.68% in 3Q 2011).

The loan portfolio of the bank rose by 18.21% year-on-year in third quarter to 651.4 billion soums (551.1 billion soums). Other income-bearing assets such as inter-banking resources and investments rose by 1.9 and 2.6 times respectively.

Quality of assets of Microcreditbank is rated as acceptable at the review period. Restructured and bad loans of the bank made up 0.6 billion soums (0.4 billion soums in 3Q 2011). In the result, the bad loans of the bank in total volume of loan portfolio made up 0.09%. The volume of unsecured loans fell by 52.75% in the third quarter of 2012 to 0.07% (0.17% in 3Q 2011).

At the same time, reserves on possible loss on loan and leasing operations made up 0.4 billion soums or 0.06% (0.13%) of aggregate loan portfolio of the bank. It is worth to mention that the coverage level of bad loans of Microcreditbank by created reserves made up 66.10%.

In the reporting period, liquid position of the bank is rated as in acceptable level. In the third quarter of 2012, the liquid assets grew by 59.77% year-on-year in the third quarter of 2012 and reached 9% (6.83% in 3Q 2011). At the same time, current assets and current liabilities rose by 96.65% and 36.75% respectively in the third quarter of 2012. The coefficient of current liquidity of Microcreditbank rose from 47.59% in the third quarter of 2011 to 68.44% in the third quarter of 2012.

Microcreditbank also had sustainable capital base in the reporting period. In the third quarter of 2012, own capital rose by 3.58% to 176.6 billion soums. In a year, the charter capital of Microcreditbank rose by 4.3% and reached 160.2 billion soums or 90.71% of aggregate capital. Ahbor-Reyting underlined that relatively high growth of risky assets made pressure to capital adequacy of the bank. In the third quarter, the coefficient of general capital and the first capital adequacy made up 22.5% and 23.8% respectively (25.8% and 26.3% respectively in 3Q 2011). At the same time, level of capital base adequacy of Microcreditbank made up 22.13% (25.92% in 3Q 2011) in the third quarter of 2012.

Profitability of Microcreditbank is rated as moderate. Interest income and interest expenses of the bank rose by 34.2% and 75.76% respectively in the third quarter of 2012. Net interest income of the bank rose by 5.85% year-on-year, while its share in total operational income of the bank decreased from 50.42% in the third quarter of 2012 to 45.26% in the third quarter of 2012.

Commission income of the bank grew by 28.63% in the third quarter of 2012 and made up 44.36% (40.65% in 3Q 2011) of operational income of the bank. Besides, other operational income of the bank rose by 37% year-on-year.

Total operational income of the bank grew by 17.89% in the third quarter of 2012, while expenses of the bank rose by 21.37%. In the third quarter of 2012, ratio of expenses to operational income made up 94.39% (91.69% in 3Q 2011).

Coefficient of bank performance (ratio of all expenses to total incomes) of the bank rose and made up to 96.59% (94.34% in 3Q 2011). In the reporting period, net income of Microcreditbank decreased by 20.5% year-on-year to 2.5 billion soums (3.2 billion soums in 3Q 2011).

Profitability of the assets of Microcreditbank made up 0.35% (0.53% in 3Q 2011) in the third quarter of 2012, while profitability of own capital made up 1.45% (1.88% in 3Q 2011).