Uzbekistan’s private bank Octobank has been assigned its first international credit rating by one of the world’s leading agencies — Moody’s Investors Service.
Octobank Receives International Credit Rating from Moody’s: A Step Toward Global Recognition and New Opportunities
Uzbekistan’s private bank Octobank has been assigned its first international credit rating by one of the world’s leading agencies — Moody’s Investors Service. The bank received a long-term rating of B3 with a stable outlook, reflecting both the current stability of its financial position and confidence in its strategic trajectory.
A Moody’s rating is a major achievement not only for Octobank itself, but also for the broader banking sector in Uzbekistan and the CIS region. For private financial institutions in this part of the world, receiving a rating from one of the “Big Three” global agencies remains a rare milestone, making Octobank’s recognition particularly significant.
Financial Stability as a Foundation
According to Moody’s, Octobank closed 2024 with strong performance indicators:
- Net profit reached 144 billion UZS
- Return on assets (ROA) stood at 4.8%
- Nearly 80% of assets are in liquid form
Tier 1 capital ratio is 38%, and total capital adequacy stands at 48.3%, nearly double the regulatory minimum
This solid financial structure gives the bank a strong buffer against macroeconomic volatility, including external shocks and currency fluctuations.
Growth Prospects and Potential for an Upgrade
Moody’s projects that Octobank’s financial position will remain stable over the next 12–18 months. The agency also notes the potential for a rating upgrade, dependent on continued client base expansion, digital innovation, and sustained growth performance.
“This is an important milestone for our bank. An international rating from Moody’s confirms that we are on the right track. It will help us strengthen trust among global partners and unlock new opportunities for growth,” said Iskandar Tursunov, Chairman of the Management Board at Octobank.
A Regional Private Bank Going Global
Octobank is a full-service commercial bank with over 20 years of history. It serves more than 3 million individuals and over 2,500 corporate clients. By actively investing in digital transformation, the bank aims not only to strengthen its domestic market position, but also to build meaningful international partnerships.
Octobank also represents Uzbekistan at key global industry events, including:
- Sibos 2024 (Beijing)
- FINNEXT Asia 2024
- PLAS Forum 2024
- Qorus Reinvent Forum 2025 (Bangkok)
A Rating as a Mark of Global Trust
Moody’s evaluates not only financial indicators but also management quality, risk resilience, and long-term strategic outlook. Receiving a rating from such an agency is a mark of international credibility and opens new doors — from accessing global capital markets to attracting foreign investors and partners.
Octobank’s case demonstrates that private banks in Uzbekistan — and across the CIS — are ready to meet international standards and participate in the global economy on equal footing.