Fitch Affirms Kapitalbank’s Rating with Upgraded “Positive” Outlook

Fitch Ratings has affirmed Kapitalbank’s long-term issuer default rating at B, while upgrading the outlook from «Stable» to «Positive», citing Uzbekistan’s economic growth, the bank’s strong financial metrics, and solid client operations.

Over the past four years, Kapitalbank has demonstrated consistent profitability. In 2024, it doubled its lending to small and medium-sized businesses and expanded its portfolio of secured consumer loans, all while maintaining a cautious approach to credit risk and high asset quality.

«The upgraded outlook reflects our sustained efforts to diversify our loan portfolio, maintain strong profitability and asset quality and benefit from Uzbekistan’s favorable macroeconomic conditions,» said Kirill Maevskiy, Chairman of the Board.

The bank’s capitalisation remains solid, with expectations of further strengthening. Liquidity levels and the deposit base are also stable.