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Finance 18/02/2011 Fitch Ratings assigns rating to Uzbekistan’s Trustbank
Fitch Ratings assigns rating to Uzbekistan’s Trustbank
Tashkent, Uzbekistan (UzDaily.com) -- International rating agency Fitch Ratings assigned international rating to private open joint stock exchange bank Trustbank.

The Uzbek bank said that Fitch Ratings assigned Long-term Issuer Default Rating (IDR) at 'B-', with a Stable Outlook.

The bank added that the agency assigned Short-term IDR at ‘B’ and individual rating at D/E and support rating – at '5'.

Uzbekistan’s Trustbank said that the rating shows liquidity and sustainability of the bank, as well as growing of the local bank sector.

The bank noted that the rating also opens new opportunities for attracting foreign investments, expanding and deepening cooperation with international financial institutions.

Trustbank was founded in 1994. The assets of the bank reached 343.047 billion soums (+34.58%) in nine months of 2010. The own capital reached 37.29 billion soums (+87.2%) in the same period.

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