“Moody’s Ratings” upgrades SQB’s credit rating

On June 25, following the upgrade of the sovereign credit rating of the Republic of Uzbekistan “Moody’s Ratings” upgraded the long-term credit rating of JSCB “Uzbek Industrial and Construction Bank” (SQB) to Ba2, with a Stable outlook.

         This rating once again confirmed the results of the effectiveness of the reforms underway in our country’s banking and financial sector, Government’s continued focus on the industry, bank’s transformation processes, its contribution to the implementation of strategic projects, its active operations in international capital markets and its status as a systemically important bank.

According to International Financial Reporting Standards, by the end of 2025 the Bank achieved the following results:

-         net profit increased by 38%, reaching USD 128.4 million;

-         total assets increased by 15%, reaching USD 8.1 billion;

-         return on equity (ROE) increased by 3.2 percentage points, reaching 15.7%;

-         the Bank’s green financing portfolio increased by 17%, reaching USD 654.3 million; 

Furthermore, the agency’s representatives positively noted the transfer of a 40 percent stake of the Bank to the National Investment Fund of the Republic of Uzbekistan, which is under the trust management of Franklin Templeton, as well as the successful initial public offering (IPO) of the Fund’s shares on the London Stock Exchange in May of this year.

The rating upgrade by “Moody’s Ratings” creates new opportunities to enhance investor confidence, strengthen the Bank’s international reputation and attract financial resources for local entrepreneurs on more favorable terms.

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