The international rating Agency of Moody\'s has confirmed the stable development of the banking system of Uzbekistan for the third consecutive year.

In the review ‘Uzbekistan\'s Banking System Outlook’, experts of the international rating agency, assessing the banking system of the Republic, have reaffirmed it as a stable.

The report noted that the key factors justifying that forecast were favorable economic conditions, active investment policy, consistently high level of bank capitalization.

Despite the global imbalances in the world economy, the situation in Uzbekistan, particularly, in the banking and financial sectors, keeps stable and positive.

A special role of the specific activities carried out in the framework of the tasks set by the Resolution of the President of the Republic of Uzbekistan on priorities for further reform and improve the stability of the financial and banking system in 2011-2015 and to achieve high international rating figures dated 26 November 2010 should be noted.

According to authors of the report, Managing Director Yves Lemay and Senior Analyst, Vice President of the Agency Olga Ulyanova, the macroeconomic conditions in Uzbekistan would positively affect the overall operating environment for banks during the forecast period of 12-18 months. The country\'s banking system will win as from the inflow of deposits and increased demand for loans.”

Given the rapid growth of GDP over the last decade, in the next 12-18 months experts expect a relatively high level of economic growth of the country thanks to a positive balance of payments and government spending on social and economic projects. Investment in many projects a positive impact on the flow of financial resources from banks both in terms of attracting deposits and lending, which will increase the stability of the banking system. (Source: Uzbekistan Today newspaper)