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8 May 2013

The rating agency "Ahbor-Reyting" confirmed the Open Joint Stock Commercial Bank "ASIA ALLIANCE BANK" credit rating in the national scale "uzA" with "stable" outlook according to the results of monitoring for the 1st quarter of 2013.

A bank with rating "uzA" has a high potential for timely and complete fulfillment of its financial obligations to creditors, depositors and investors.

The rating of ASIA ALLIANCE BANK is supported by positive factors such as strong business activity, favorable asset quality, high level of solvency, profitability and a positive evaluation of the corporate governance and risk-control in the bank. Meantime, a rapid growth of assets is putting pressure on bank’s capital levels and requires additional capital injections.

In the 1st quarter of 2013 ASIA ALLIANCE BANK continued to maintain an active expansion of the scale of its activities. The opening of new Khamza and Mirzo-Ulugbek branches in the city of Tashkent, the expansion of retail banking centers network reflects the bank's plan to increase the availability of its services to the public and to strengthen its market position. These measures, in turn, allow the bank to diversify its activities and provide additional stability to its financial position.
 
In the 1st quarter of 2013 the bank's total assets increased by more than 2 times compared with the same period of the previous year and reached 879 billion Uzbek soums. Including income-generating assets of the bank increased by more than 2 times and reached 64% (67% in the 1Q 2012) of the total assets of the bank. The loan portfolio of the Bank has exceeded 121 billion Uzbek soums, which increased 2 times compared with the 1st quarter of 2012.
 
Liquidity position ASIA ALLIANCE BANK remains at a favorable level. As of 31.03.2013 the share of liquid assets reached 78% of total assets. The current ratio was 107.67%. The bulk of funding the bank receives from its corporate clients.
 
Amid the rapid growth of its assets, the Bank has taken measures to increase the capital base. For the period of 31.03-2012-2013 equity of ASIA ALLIANCE BANK increased by 79% and reached 69.4 billion Uzbek soums (38.7 billion Uzbek soums in the 1Q 2012). In particular, the share capital of the bank increased by 2.3 times and amounted 51.5 billion Uzbek soums (22.5 billion Uzbek soums in the 1Q 2012). The Bank's ability to generate capital internally is considered high due to good profitability of the bank. According to the results of the 1st quarter of 2013 net profit of the Bank was 9.0 billion Uzbek soum which was 2.3 times more than the same period of last year..


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