Tashkent, Uzbekistan, April 22
By Demir Azizov- Trend:
Private closed joint stock commercial bank Davr-bank of Uzbekistan plans to increase its authorized capital by 28.2 percent - up to 25 billion soums due to additional issuance of shares by 5.5 billion soums, the bank's management told Trend with reference to the annual meeting of shareholders.
"The bank's shareholders decided to set the volume of declared authorized shares in the amount of 5.5 billion soums. We plan to place 550,000 ordinary shares with par value at 10,000 soums during the year," a source at the bank said.
The securities will be placed by closed subscription among shareholders, according to the source.
The Davr-Bank was established in Tashkent in 2001 and the main direction of activity is lending to small enterprises. At present, the bank has a network of five branches and five mini-banks. The client base of the bank exceeds 6000 individuals and legal entities.
In 2013, the bank doubled its assets - up to 113.49 billion soums , the liabilities - 2.4 times by 84.717 billion soums, share capital- by 33.5 percent-up to 28.803 billion soums by taking into account the authorized capital in the amount of 19.5 billion soums.
As of 2013, net profit of the Davr Bank made up 9.053 billion soums compared to 6.466 billion soums in the previous year (1.4 times growth).
By decision of the shareholders, the dividends for 2013 will amount to 1846.15 soums per share, or 18.46 percent of the nominal (10,000 soums). By the end of 2012 the bank paid 1.500 soums per share (15 per cent of the nominal).
As reported earlier, in accordance with the established order in Uzbekistan private banks are the banks which registered capital are not less than 50 percent of the funds generated at the expense of individuals. The minimum registered capital of private banks should be not less than five million euros.
At present, nine private banks operate in the Uzbek banking system.
The official exchange rate on April 22 is 2276.19 soums / $ 1 and 3152.75 soums / 1 euro.
Translated by S.I.
Edited by C.N.