Iranian bank's subsidiary ups assets
Uzbekistan, Tashkent, May 21 / Trend D.Azizov /
The Saderat Iran Subsidiary Bank in Tashkent increased assets by 24.5 percent up to 29.209 billion soums under the International Financial Reporting Standards (IFRS) in 2009, the bank reported.
The bank's obligations increased by 1.5 times up to 13.11 billion soums and equity increased by 10.3 percent up to 16.095 billion soums in 2009.
The bank's net profit amounted to 480.5 million soums, which is higher by 2.2 times than in 2008.
The Saderat Iran Subsidiary Bank in Tashkent, which is the only bank with 100-percent foreign capital in Uzbekistan, was created in 1999 for the financial services to the Uzbek-Iranian trade operations.
Thirty banks operate in the country's banking system, 5 of which are created with the participation of foreign capital.
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