Moody's rates Alokabank B1

Moody's Investors Service said it assigned to Alokabank a bank financial strength rating of E+, long-term and short-term local-currency deposit ratings of B1/not-prime and long-term and short-term foreign-currency deposit ratings of B3/not-prime.

The outlook is stable.

The ratings reflect the bank's established business relations and expertise in servicing the telecommunication sector of the Republic of Uzbekistan, adequate capitalization, strong financial performance and good asset quality, Moody's said.

The ratings are constrained by the bank's corporate governance and risk management practices, which still have room for development and should be tested further in a more competitive business environment, the agency said.

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