The rating of Ravnaq-Bank takes into account adequate capitalization and some improvement of financial results. The rating takes into account fast growth of assets and related risks, relatively high exposure of balance to credit risk, limited business scale and clientele base of the bank, acceptable quality of the assets, concentration of business in Tashkent region and relatively low financial results of the bank.

In the reporting period, Ravnaq-Bank demonstrates acceptable growth of financial figures. In the second quarter of 2011, the assets of the bank grew by 35.04% and made up 30.5 billion soums. The loan portfolio rose by 71.40% to 17.62 illion soums (10.3 billion soums in 2Q 2010).

The main share of loans, issued by Ravnaq-Bank, were issued to trade and catering – 65.94%, which rated by Ahbor-Reyting as concentrated. The quality of loan portfolio of Ravnaq-Bank rated as acceptable. At the same time, 95.74% of loans are rated as good and 4.21% as sub-standard.

Reserve for credit loss made up 1.07% at the end of the second quarter of 2011, which, in opinion of Ahbor-Reyting, is not enough to cover existing bad loans. At the same time, the bank has bad and unsecured loans in the second quarter of 2011, which makes up 4.3% of loan portfolio. Ahbor-Reyting underlined that further growth of bad loans can negatively impact to level of income bearing assets of the bank.

In the reporting period, liquid assets of Ravnaq-Bank decreased by 50.08%. In the second quarter of 2011, share of liquid assets of the bank made up 10.16% (27.48% in 2Q 2010). Current assets fell by 55.4% year-on-year in the second quarter of 2011, while liabilities of the bank rose by 45.69%. At the same time, the coefficient of current liquidity of the bank decreased by 30.27% (99.18% in 2Q 2010).

In the second quarter of 2011, term resource base of the bank slipped by 2.06%. At the same time, the ratio of credit portfolio to term resource base of the bank made up 261.55% (150.04% in 2Q 2010).

Funding base of Ravnaq Bank is formed mainly due to clients’ accounts. The figure of deposits and attracted resources from money market grew by 17.8% in the second quarter to 98.05% of the bank’s liabilities.

In the reporting period, the capitalization level of Ravnaq-Bank increased and it is rated as enough level. Own capital of the bank grew by 57.78% to 11.9 billion soums. Equity capital of the bank jumped by 75.2% to 10.5 billion soums.

The agency underlined that bank’s adequacy figures strengthened in the second quarter of 2011. In the second quarter of 2011, the capital and the first level capital adequacy made up 31.3% and 38.9% (33% and 32.7% in 2Q 2010) respectively. The leverage coefficient of Ravnaq Bank grew by 29.7% to 36.4% in the second quarter of 2011.