Uzbek-Korean UzKDBbank ups assets by 12 percent in first quarter
Uzbekistan, Tashkent, April 10 / Trend D. Azizov /
Uzbek-Korean UzKDBbank in the first quarter of 2010 increased assets by 12.3 percent - up to 208.8 billion soums compared to 2009, the Bank's leadership said.
Loan portfolio in January - March increased by 5.6 percent - up 52.6 billion soums, the obligation - by 13.5 percent - up to 166.2 billion soums, and own capital - by 7.9 percent - to 42.5 billion soums.
The bank's net profit for the first quarter was $ 1.5 billion soums compared to 1,4 billion soums for the same period in 2009 (an increase of 7.1 percent).
UzKDBbank (until February 2006 - UzDEUbank) was established in 1997. About 61 percent of its share capital was owned by South Korea's Daewoo Securities.
In February 2006, KDB bought the share of Daewoo Securities, after which the bank was renamed into UzKDBbank.
UzKDBbank's authorized capital is $12.273 million. The shareholders are Korea Development Bank, KDB, South Korea - 61 percent stake, the European Bank for Reconstruction and Development (EBRD) - 27.8 percent, the Uzbek National Bank for Foreign Economic Affairs and the bank "Turon" - 5,6 percent
In 2009, the bank's assets audited by international accounting standards increased by 15 percent compared to 2008 - up to 185.9 billion soums, the loan portfolio - in 1,6 times - up to 49.68 million soums, the own capital - 25 percent - up 39.4 billion soums. Audited net profit last year amounted to eight billion soums compared to 6,1 billion sums a year earlier (an increase of 13.1 percent).
The banking system of Uzbekistan is currently represented by 31 banks, including the three state, five - with the participation of foreign capital, 11 - joint stock ones and 12 - private.
Total assets of commercial banks increased in 2009 by 30.2 percent compared to 2008 - up to 15.703 trillion soums, the total loan portfolio increased by 34.3 percent - up to 8.557 trillion sum, the joint bank capital increased during the year by 38, 7 percent - to 3 010.4 billion soums.
On April 9, the official exchange rate is 1556,69 soums per $1.