Octobank Secures Moody’s International Credit Rating with ‘Stable’ Outlook
Moody’s assigns Octobank a long-term international credit rating of B3 with a stable outlook, recognising the bank’s strong financial performance and effective risk management in 2024.
Moody’s analysts highlight Octobank’s solid financial results, with a net profit of UZS 144 bn ($11.1 mln), a return on assets of 4.8%, and nearly 80% of assets classified as liquid. The bank maintains a strong capital position, with a Tier 1 capital adequacy ratio of 38% and a total capital adequacy ratio of 48.3%—almost double the regulatory requirements—ensuring resilience against potential economic challenges.
Moody’s expects Octobank’s financial position to remain stable over the next 12–18 months. The bank’s ongoing expansion, new product launches, and growing customer base could contribute to an improved rating in the future.
«This is Octobank’s first international credit rating, and it confirms that we are on the right path. Moody’s rating will help us build even stronger relationships with international partners and enhance our visibility in the global market. We have ambitious plans to launch new products and services, which will drive our growth in the coming years,» said Iskandar Tursunov, Chairman of the Board at Octobank.
With over 20 years in Uzbekistan’s financial market, Octobank continues to develop its digital banking infrastructure, serving more than 3 mln individuals and over 2,500 corporate clients.
Moody’s is one of the world’s leading credit rating agencies, assessing financial performance, business models, risk management, and resilience to economic challenges.
