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Uzbek Asaka bank increases assets by 16% in 2014

Business Materials 28 January 2015 17:42 (UTC +04:00)

Tashkent, Uzbekistan, Jan. 28

By Demir Azizov - Trend:

Asaka State Joint-Stock Commercial Bank ranks second in the amount of main bank indices in the Uzbek banking system. Its assets hit 5.383 trillion soums as of 2014 according to the national accounting standards, the bank said.

The bank's assets totaled 4.641 trillion soums according to the national accounting standards in 2013. Asaka's total assets increased 16 percent in 2014.

Asaka's volume of credit investments, including leasing, increased by 13 percent - to 2.755 trillion soums in 2014. The long-term loans amounted to 80 percent (2.204 trillion soums), including investment loans - 68.3 percent (1.881 trillion soums) in Asaka's loan portfolio structure.

Asaka's equity increased by 16 percent - up to 801.7 billion soums as of January 2015 given the authorized capital formed in the amount of 458.235 billion soums and consisting of 412.52 million of ordinary shares with par value of 1112.08 soums each.

At present, the bank's shareholders are the Finance Ministry - 60.96 percent of shares, Uzavtoprom - 14.58 percent, the Uzbek Reconstruction and Development Fund - 14.56 percent, UzGAZOil - 5.06 percent, Almalyk Mining and Metallurgical Combine - 2.53 percent, Uzbekistan Railways - 1.27 percent, Uzagrosugurta state joint stock insurance company - 0.5 percent, Uzbektelecom - 0.28 percent, UzbekInvest national export-import insurance company and Khalq Sug'urta insurance company - 0.13 percent.

Asaka bank was established in 1996. The bank is mainly involved in lending to the automotive industry.

In 2013, the bank's assets, calculated according to the national accounting standards increased by 7.9 percent up to 4.641 trillion soums, credit portfolio - by 31.8 percent to 2.438 trillion soums, own capital - by 17.8 percent up to 691.1 billion soums compared to 2012.

The official exchange rate is 2436.16 soums/$1

Edited by CN

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