Uzbekistan, Tashkent, Oct. 25 / Trend D.Azizov /
The Uzbek joint stock "Agrobank", included in the five largest banks in the republic, has increased the authorized capital by 34 percent - up to 1.957 trillion soums, the bank's management told Trend.
Since early 2010, the bank's loan portfolio increased by 29.6 percent to 1.319 trillion soum, with liabilities growing by 45.2 percent to 1.750 trillion soum. The bank's total capital also increased by 20.1 percent to 207.2 billion soum as of Oct. 1, with $115 billion soums in authorized capital.
Agrobank was formed in March last year upon the decree of the Uzbek President from Pakhtabank. The main objectives of Agrobank are loans and complex banking services rendered to farms dealing with agricultural production, including cotton and grain processing enterprises, as well as the processing plant, storage, transportation and sale of cotton and grain production. "Agrobank" is the legal successor of "Pakhtabank" on property, financial and other obligations.
About 185 districts and urban branches, 468 mini-banks, 189 special cash desks, 274 currency exchange operate in all regions of the country. The bank serves nearly 270,000 legal and over a 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.
The official exchange rate is 1624.72 soums to $1 Oct. 25.
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