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Moody's changes outlooks on Hamkorbank's long-term deposit ratings

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Moody's changes outlooks on Hamkorbank's long-term deposit ratings

Moody's on Sept. 5 affirmed Uzbekistan-based JSCB with Foreign Capital Hamkorbank's long-term local- and foreign-currency deposit ratings at B2 and changed the outlooks on the ratings.

The outlook on the long-term local-currency deposit rating was revised to positive from negative, while the outlook on long-term foreign-currency deposit rating was changed to stable from negative.

The agency said the changes reflect the resilience of Hamkorbank's asset quality, profitability and capital amid volatile operating conditions in Uzbekistan.

The bank's short-term foreign- and local-currency deposit ratings were affirmed at NP.

Moody's also affirmed the lender's baseline and adjusted baseline credit assessments at "b2," its long- and short-term counterparty risk assessments at B1(cr)/NP(cr) and its long- and short-term local- and foreign-currency counterparty risk ratings at B1/NP.