The rating of Ipak Yoli Bank reflect stable position of the bank in the market, high reputation and image of the bank, high level of risk management, balanced liquid position and adequate capitalization, as well as growing financial results of its activities. At the same time, the rating takes into account concentration of the business in Tashkent region, fast growth of loan portfolio and related loan risks, low diversification and short-term funding base, as well as potential risks related to its growth strategy.

In last two years, Ipak Yoli Bank demonstrated fast growth of main financial figures. In 2011, the assets of the bank rose by 22.25% year-on-year in 2011 to 638.8 billion soums. Besides, in the first half of 2012, the assets reached 646.3 billion soums, or grew by 1.17% compared to the beginning of 2012.

The volume of net loan portfolio made up 258.1 billion soums in 2011, or grew by 47.90% compared to 2010. It is worth to mention that the volume of loan portfolio of Ipak Yoli Bank made up 285.4 billion soums in the first quarter of 2012. Loan portfolio of the bank was relatively concentrated. As of 1 April 2012, about 41.77% of loans fell to share of production sector (42.67% in 2011), and trade – 25.70% (34.41% in 2011).

Income generation source of the bank also grew stably and kept its quality. In 2011, all income of the bank rose by 28.90% year-on-year, while expenses – by 25.23%. At the same time, net income of the bank rose by 57.77% to 12.8 billion soums in 2011.

Major part of funding base of Ipak Yoli Bank receives from its clients. In 2011, the clientele accounts accounted 89.18% of the bank’s liabilities. It is necessary to underline that Ipak Yoli Bank actively used attracted resources. At the same time, the ratio of loans to deposits and attracted resources grew from 38.61% in 2010 to 48.56% in 2011. The funding base is relatively short, which limits its activity on increasing share of long-term income bearing assets. At the same time, Ahbor-Reyting believes that long-term borrowing would help to further diversification of its funding base.

Liquid position of the balance of Ipak Yoli Bank was in favourable level in 2011. In 2011, liquid assets made up 44.55% of the bank’s assets (55.06% in 2010).

In the reporting period, current assets rose by 5.02% year-on-year and current liabilities by 15.21% year-on-year in 2011. At the same time, coefficient current liquidity of the bank made up 71.28% (78.2% in 2010). Fixed resource base grew by 41.97% year-on-year in 2011. Ratio of loan portfolio to fixed resource base made up 184.10% against 176.65% in 2010.

The capitalization of the bank is rated at acceptable level. In 2011, own capital of the bank rose by 33.47% to 56.1 billion soums (42 billion soums in 2010). In the first quarter of 2012, the bank continued to increase own capital.

In the first quarter of 2012, own capital jumped by 18.66% compared to the beginning of 2011 to 66.6 billion soums. In the reporting period, the capital adequacy decreased. The general capital and the first level capital adequacy made up 13.7% and 10.9% respectively (16% and 13.2% in 2010). AT the same time, own capital adequacy rose from 8.05% in 2010 to 8.79% in 2911. In the first quarter of 2012, the figure made up 10.31%.