Octobank Receives International Rating from Moody’s: A Recognition of Stability and Ambition

International credit rating agency Moody’s has assigned a long-term credit rating of B3 to one of Uzbekistan’s largest private banks, Octobank. The outlook for the rating is Stable.

Obtaining an international rating of this level is a significant milestone for any financial institution — especially against the backdrop of Central Asia’s growing integration into the global financial system. For private banks in the CIS region, such recognition is still relatively rare, as global ratings from agencies like Moody’s, S&P, and Fitch are typically awarded to large state-owned or multinational financial institutions.

Strong Financial Performance

According to Moody’s assessment, Octobank concluded 2024 with solid financial results. The bank reported:

• UZS 144 billion in net profit
• 4.8% return on assets (ROA)
• Nearly 80% of assets in liquid form
• In addition, Octobank maintains a high level of capitalization:
• 38% Tier 1 capital adequacy
• 48.3% total capital adequacy — nearly double the regulatory minimum, demonstrating the bank’s strong resilience to potential economic shocks and external risks.

Moody’s expects Octobank to maintain its stable financial position over the next 12–18 months, and notes the potential for a rating upgrade if current growth trends continue, particularly with further expansion of the client base and rollout of new products.

"This is the first international rating for Octobank, and we see that our bank's development course has been chosen correctly. The Moody's rating will help us build even more stable relationships with international partners and make us more visible in the global market. We have ambitious plans to launch new products and services, and this will be the main driver of our bank's growth in the coming years," noted Iskandar Tursunov, Chairman of the Management Board of Octobank.

Octobank: A New Generation Private Bank

With over 20 years of experience in the market, Octobank is now one of the leaders in Uzbekistan’s private banking sector. The bank is actively investing in digital services, embracing innovation, and currently serves more than 3 million individuals and 2,500 corporate clients.

Octobank also takes an active role in the international banking community, representing Uzbekistan at key industry events such as:

• Sibos 2024 (Beijing) — the largest global banking technology conference
• FINNEXT Asia 2024 — the region’s leading fintech forum
• PLAS Forum 2024

Qorus Reinvent Forum Bangkok 2025 — a major event in the digital finance space

Moody’s: A Global Mark of Quality and Trust

Moody’s is one of the world’s leading credit rating agencies. Its analysts assess not only financial metrics, but also business model sustainability, governance quality, strategic planning, and resilience to external challenges. For Octobank, this rating is more than just a number — it is international recognition of the bank’s credibility and transparency.

Receiving such a rating is not just a milestone for one institution, but a positive signal for the entire financial system of Uzbekistan and the broader CIS region. The private banking sector is becoming increasingly mature, transparent, and competitive at the global level.

This endorsement underscores Moody’s rigorous analytical methods and its role in promoting sound financial practices worldwide. The achievement reflects Octobank’s commitment to innovation, stability, and prudent risk management. It also encourages improvements in operational efficiency and governance across the sector, further fueling investor confidence and solid economic growth in the region. Financial experts praise this milestone as an important step towards aligning local banking standards with international benchmarks, fostering a reliable and competitive market environment. In addition, this recognition serves as a catalyst for further financial reforms and inspires other institutions to significantly elevate their service standards and strategic initiatives.