Tashkent, Uzbekistan (UzDaily.uz) — ANORBANK has commented on the decision by Fitch Ratings to change the bank’s credit rating to CCC+. The bank said it continues to operate normally and meet all obligations to customers.
ANORBANK said the change in the external assessment has not affected the operation of its mobile application, transfers, cash withdrawals, or servicing of bank cards and accounts. The bank also said it has sufficient liquidity reserves and financial stability.
ANORBANK identified Fitch’s methodology for calculating Fitch Core Capital, a measure of a bank’s core capital taking into account the size of its loan portfolio, as one of the key factors affecting the assessment.
According to the bank, regulatory capital adequacy requirements are being fully met. At the same time, Fitch’s methodology provides for deducting the value of intangible assets, including acquired software, from capital.
ANORBANK emphasized that this factor is particularly significant for the bank’s digital business model. During its first four years of operations, the bank invested in remote banking systems, including scoring, CRM, a loan origination platform, and card delivery, monitoring and accounting platforms. Many of these solutions were acquired as owned assets rather than used under licensing arrangements.
The bank said the change in the external assessment had become a catalyst for accelerating internal transformations. In particular, ANORBANK continues to work on improving the stability of its IT systems, developing remote service channels and enhancing customers’ day-to-day banking experience.
The bank also said it intends to continue developing as a technology partner for its customers.
