One of the largest private banks in Uzbekistan, Octobank, has been assigned an international credit rating by the renowned agency S&P Global Ratings. The bank received a long-term rating of “B-” for obligations in both local and foreign currencies, and a short-term rating of “B”. The outlook on the rating has been defined as “Stable,” indicating the likelihood of maintaining this level over the next 12 to 18 months.
The assigned rating of “B-” reflects the bank’s adequate capacity to meet its financial obligations, even under moderate economic pressure. This is especially significant in a regional context, where macroeconomic fluctuations can strongly affect the stability of financial institutions. The “Stable” outlook highlights a balanced risk profile and the bank’s potential for continued development without major threats in the foreseeable future.
Strong Financial Performance Enhances Market Confidence
Octobank’s robust financial results in recent periods played a key role in the agency’s favorable assessment:
In 2024, the bank’s assets grew by 33.6%, reaching UZS 3.2 trillion;
Net profit increased by 101.7%, reaching UZS 150.7 billion;
Equity capital rose by 57.5%, amounting to UZS 755 billion.
In the first quarter of 2025, Octobank reported a profit of UZS 108.5 billion, which is 397.5% more than the same period of the previous year.
This surge in performance demonstrates not only a high level of operational efficiency but also the bank’s ability to generate sustainable profits under external pressure, ensuring revenue growth and cost optimization.
A Bank with a Sustainable Development Model
With the assignment of an international credit rating, Octobank strengthens its position as a transparent and reliable institution in the eyes of international partners, investors, and regulatory bodies. The rating opens new opportunities for capital attraction, expansion of cooperation with foreign institutions, and increased trust from customers.
With more than 20 years of experience, Octobank has proven itself as a technologically advanced and customer-focused bank. Today, it serves over 3 million individuals and more than 2,500 corporate clients, while actively developing modern digital channels and implementing cutting-edge fintech solutions.
About the Rating Agency
S&P Global Ratings is one of the “Big Three” international credit rating agencies, alongside Fitch and Moody’s. Its ratings are widely used by institutional investors, government entities, and international banks for assessing credit risk and developing long-term strategic partnerships.
The assignment of an international rating by S&P marks a significant milestone for Octobank, affirming its strategic maturity, resilience, and readiness for international expansion. This event also strengthens Uzbekistan’s overall investment climate and highlights the global potential of local financial in
