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Finance 19/11/2009 Moody’s Investors Service retains Bank Credit-Standard rating
Moody’s Investors Service retains Bank Credit-Standard rating
Tashkent, Uzbekistan (UzDaily.com) -- Moody’s Investors Service retains Open Joint-Stock Commercial Bank "Credit-Standard" (BCS) rating at B2/NP/B3/NP/E+, the Uzbek bank said.

Moody’s assigned B2 long-term and Not Prime short-term local currency deposit ratings and an E+ Bank Financial Strength Rating (BFSR) to BCS in October 2008. The outlook on all the ratings is stable.

The E+ Bank Financial Strength Rating reflects BCS’s relatively strong for Uzbek banks corporate governance and risk management standards and sound financial fundamentals to date.

Moody’s said the bank has good chance to improve its rating, in particular, if it achieves its strategy on developing its branch network.

Open Joint-Stock Commercial Bank "Credit-Standard" was founded on 16 August 2003 with the charter capital of 1.3 billion soums. The assets of the bank made up 320.621 billion soums and own capital - 31.958 billion soums as of 1 October 2009.

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