Uzbekistan, Tashkent, Jan. 15 / corr Trend D.Azizov /
The Kishlik Kurilish Agriculture Building Bank doubled its assets in 2009 to 357.1 billion sum, the bank said.
The bank's loan portfolio increased by 42.2 percent to 201.3 billion sum in 2009. Aggregate capital more than doubled to 73.5 billion sum as of Jan. 1, 2010, including formed statutory capital in the amount of 50 billion sum.
Kishlik Kurilish was established after President Islam Karimov's decree in March 2009 on the basis of Gallabank with statutory capital amounting to 150 billion manat.
In early 2010, the bank plans to launch placing shares amounting to 100 billion sum to triple the statutory capital to 150 billion sum.
The bank's president named the bank's major shareholders as the Finance Ministry with a 53.3-percent share and the Uzbek Fund for Reconstruction and Development (EFRD) with a 23.7-percent stake. They will gain 77 percent of the shares in aggregate stock capital by 2011.
The bank was established to provide crediting and banking services to the population and legal entities to help them meet their demands in public utilities, the social sector and improving rural areas under the state program on village development and welfare.
The statutory capital comprises 50 billion sum, including 492 million ordinary and 8 million privileged shares with a face value of 100 sum each. The bank has some 3,500 shareholders. The biggest among them are the ministry with a 40-percent stake in the statutory capital and UFRD with a 21-percent share.
By 2012 Kishlok Kurilish Bank will have been released from income and property tax payments with the aim to direct free capital to increase the ministry's share in the bank's statutory capital.
Official rate was 1,516.89 sum per $1 Jan. 15.
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