Representatives of the Central Bank, commercial banks, local and international audit companies, credit organizations participated in the event.

At the event, Standard & Poor’s officials held a presentation on issues of perspectives of developing sovereign credit ratings, key conditions of crediting, impacting international banks, as well as assessment of economic and industrial risks of the banking system.

The experts assessed the role of the banking system in development of economy of Uzbekistan. It was noted that high tempo of the GDP growth were supported with the growth of crediting of real sector of economy by the banks.

According to the experts of Standard & Poor’s, stable resource base of the banking sector and proper banking supervision are positive factors of economic growth.

Uzbekistan’s banking system was rates as stable in the contest of worsening rating of some countries of the CIS. The figures of the banking system are at high level and some norms are higher than requirements of international standards.

As of 1 April 2016, aggregate capital of the banking system increased by 23.2% compared to the same period. The figure rose 2.4 times in last five years. Total assets of the banks grew by 25.4% year-on-year in the first quarter of 2016, and 3.1 times in last five years.

Total volume of deposits in commercial banks rose 3.6 times in last five years. As of 1 April 2016, their volume rose by 27.6% year-on-year.

It was underlined that currently all banks of Uzbekistan have positive rating assessment from leading international rating agencies.

Experts underlined that decision of the president on measures on attracting foreign investors to joint stock companies will create favourable conditions for active participation of the investors in corporate management and cardinally decreases participation of the state in the economy.

It was underlined that the Central Bank regularly improves banking supervision based on advanced international experience in line with the recommendations of the IMF, World Bank and Basel Committee of Banking Supervision.