Uzbek Asaka Bank increases dividends on shares
Uzbekistan, Tashkent, June 30 / Trend D.Azizov /
Shareholders of the Asaka Uzbek state joint stock commercial bank decided to pay 4,265.77 soum for each share of common stock with a par value of 50,000 soum in 2009, the bank reported.
The bank paid 3,889.4 per share in 2008. The dividend will thus increase by 9.4 percent. The net income allocated for the payment of dividends will be announced later, the bank reported.
Earlier the bank increased its net income from 21.928 billion soum in 2008 to 23.24 billion soum in 2009, calculated on International Financial Reporting Standards.
An extraordinary general shareholders meeting in December 2008 resulted in an increase in the bank's share capital. About 868.394 shares of common non-cash stock par 50,000 soum value were released in May.
Asaka was founded in 1996. Its main activities are lending in the automotive industry.
The bank's main shareholders are the Finance Ministry with 66.65 percent, the Uzbek Reconstruction and Development Fund with 16.67 percent, and Uzavtoprom with 0.68 percent.
In 2009, the bank increased its assets by 19.1 percent to 1.791 trillion soum, its loans by 12.9 percent to 860.8 billion soum, and its authorized capital by 83.8 percent to 357.3 billion soum.
The bank has branches in all the country's regions, 107 mini-banks, 892 savings banks and 84 special pay desks to receive utility bills. Correspondent relationships have been established with over 170 banks in the CIS and abroad.
The Uzbek banking system is represented by 32 banks, including three state banks.
The official exchange rate is 1,595 soum per $1 June 30.