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Uzbek Credit Standard Bank increases its assets by 15 percent in 2010

Business Materials 7 January 2011 13:06 (UTC +04:00)

Uzbekistan, Tashkent, Jan.7 / Trend, D.Azizov /

Assets of open joint stock commercial bank Credit Standard amounted 276 billion soums increasing by 15 percent in 2010.

The bank's loan portfolio reached 66.8 billion soums increasing by 64.9 percent, investment and securities portfolio - 16.851 billion soums (16.982 soums in 2009), own capital of Credit Standard Bank rose by 5 percent year-on-year and amounted to 34.904 billion soums and net income grew by 36% year-on-year to 8.592 billion soums compared to 6.288 billion soums a year earlier.

The volume of money resources, attracted on deposits, grew by 40% year-on-year to 165,510 billion soums.

Number of corporate clients rose by 25 percent. The main customers of the bank are large state enterprises, companies with foreign capital, as well as large and medium private businesses.

Open Joint-Stock Commercial Bank "Credit-Standard" was founded in August 2003.

The bank has four branches, including in the cities of Samarkand and Fergana, and 14 mini-banks.

Famous international financial magazine Euromoney (Great Britain) named the Credit Standard Bank as the Best Bank of Uzbekistan-2010. The bank received this award in the result of poll of national and foreign partners of the edition, as well as rating of Moody's Investors Service..

Official exchange rate is 1640.55 soums to $1 on Jan.7.

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