S&P Global Ratings recently affirmed the credit rating of Kapitalbank at 'B' with a stable forecast. This recognition solidifies the bank's standing as a key player in Uzbekistan's financial sector and highlights several strengths that contribute to its market leadership.
The analysts at S&P Global Ratings specifically noted the high brand recognition enjoyed by Kapitalbank and the extensive network of regional branches. This widespread presence positions the bank as a well-established and recognized brand, playing a crucial role in the country's financial system growth.
A significant aspect of the bank's strategy is its focus on retail business, distinguishing it as the largest private bank in the country specializing in serving small and medium-sized businesses and retail customers. This strategic emphasis underscores the bank's commitment to driving financial inclusion and supporting economic growth.
Moreover, the experts underscored the bank's importance for the overall financial system growth in Uzbekistan. As the largest private bank, Kapitalbank is expected to play a vital role in supporting the economic landscape, particularly through its services to entrepreneurs and retail customers.
The affirmation also acknowledges the bank's competent risk management practices, a critical factor in navigating challenges and maintaining stability in a rapidly evolving financial environment. Operational efficiency and a proactive approach to digitalization further contribute to the bank's success.
Kapitalbank stands as Uzbekistan's leading private bank in terms of assets, boasting a customer base exceeding 1.6 mn individuals and over 50,000 entrepreneurs registered in its database. Operating across all regions of the country, the bank has established a robust presence with a network of over 100 branches. Pioneering advancements in banking technology, Kapitalbank was among the early adopters of modernizing its ATM network. Notably, all ATMs operated by the bank now facilitate transactions with both national and international payment system cards.
In 2021, S&P Global Ratings has revised the rating of Kapitalbank to "B-/B" with a "Positive" outlook, highlighting the bank's resilient performance amid the pandemic.
S&P Global Ratings, a division of S&P Global (NYSE: SPGI), is a prominent global firm specializing in delivering credit ratings, benchmarks, conducting research processes, and offering business solutions. The company caters to organizations operating in the global financial and commodity markets, as well as the automotive industry. The comprehensive suite of products and services provided by S&P Global plays a pivotal role in assisting numerous leading global companies in navigating economic conditions and strategizing for the future with assurance.
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