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S&P revises outlook on Uzbekistan-based Davr Bank

S&P Global Ratings affirmed Uzbekistan-based Private Joint-Stock Commercial Bank Davr Bank's B-/B long- and short-term issuer credit ratings and revised the outlook on the long-term rating to positive from stable based on its improving financial performance despite a challenging operating environment.

The agency said the outlook revision reflects the bank's resilient asset quality metrics over the past five years, with credit costs staying below 0.6% over the period. Problem loans also accounted for 0.5% of total loans.

The positive outlook indicates that the ratings could be upgraded over the next 12 months if the bank continues to hold low credit losses and low nonperforming loans while maintaining its stable capitalization and profitability metrics.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.