Uzbekistan, Tashkent, August 12 / Trend D. Azizov /
Nodir Nazarov was appointed new chairman of the Uzbek Commercial National Bank, a statement said.
Chairman of the Board of the People's Bank was Mukhamet Jumagaldiyev since 2004 up to now.
Nodir Nazarov was born in 1973. He is a graduate of the Tashkent State Economic University. He has experience in the Central Bank of Uzbekistan, as well as in the People's Bank.
The Public and Commercial National Bank (Halk Bank) was formed from the Uzbek Republican Savings Bank in 1995. The bank is the agent of the government in implementing social programs. It works as a universal commercial bank. The bank is the leader in terms of physical entities' deposits with a market share of 23 percent.
The bank has 200 branches, 2,500 branches, more than 200 mini-banks, 300 savings banks. The bank serves approximately 30,000 legal and 9 million physical entities.
The Uzbek President adopted a resolution to increase the share capital of the bank until the end of 2012 twice - up to 200 billion soums through additional share issues in October 2008. According to the document, the additional issue should be issued in equal shares - at 25 billion soums annually.
The authorized capital is formed to the amount of 100 billion soums. It consists of 200,000 ordinary shares worth 500,000 soums each. The founders of the bank are the Uzbek Ministry of Finance and the Central Bank holding 51 and 49 percent shares, respectively.
The People's Bank is exempt in all kinds of taxes and customs duties (except for fees for customs clearance) on imported banking equipment and technology until 2013.
It was reported that the bank increased assets by 1.7 times in 2009 compared to 2008 - up to 877.7 billion soums, the loan portfolio - 77 percent - up to 419.2 billion soums, the obligations - by 71,7 percent, up to 721.1 billion soums, own capital - by 1,6 times, up to 156.7 billion soums. Net profit of the People's Bank in 2009 amounted to 22.457 billion soums compared to 11.789 billion soums previous year (growth - almost twice).
On August 12, the official exchange rate is 1610,00 soums per $1.