Uzbek bank increases assets in first quarter

Uzbekistan, Tashkent, July 14 / Trend D. Azizov /

Uzbekistan's Agrobank increased its assets in January-June by 43.4 percent compared to the same period in 2009 to 1.976 trillion soum, the bank told Trend.

The bank's loan portfolio in early 2010 increased by 33.6 percent to 1,360 trillion soum, with liabilities growing by 46.6 percent to 1.766 trillion soum. The bank's total capital also increased by 21.7 percent to 210 billion soum as of July 1, with $100 billion soum in authorized capital.

Agrobank was reorganized from Pakhtabank last March. Its major objectives are loans and complex banking farms engaged in agricultural production.

Agrobank's largest shareholders are the Finance Ministry (40 percent) and the Uzbek Fund for Reconstruction and Development (19 percent).

About 185 district and municipal branches, 468 mini-banks, 189 special insurance schemes, and 274 currency exchanges operate in the country. The bank serves nearly 270,000 legal and over 1 million physical entities.

The bank increased its assets by 44.3 percent compared to 2008 to 1.378 trillion soum, loans by 1.4 times to 1.018 trillion soum, and total liabilities by 46.3 percent to 1.205 trillion soum in 2009. The bank's total capital increased by 31.6 percent to 172.588 billion soum as of Jan. 1. Net profit in 2009 totaled 15.5 billion soum, which is almost the same level as in 2008.

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