The rating affirmation reflects the bank’s progress in its transformation strategy which puts pressures on its financial viability, but which remains adequately buffered.

Scope Ratings has updated its rating report on JSC Silk Bank, rated B- with Stable Outlook.

The issuer rating factors Scope’s views that the implementation of the bank’s medium-term transformation strategy is still at an early stage. Silk Bank ambitions to become profitable in 2026.