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Uzbek Asaka Bank increases its assets by 50 percent in 2010

Business Materials 20 January 2011 15:58
Aggregate assets of the state joint stock commercial banks Asaka increased by 907.6 billion soums or 50.7 percent in 2010 to 2.7 trillion soums, the bank said.

Uzbekistan, Tashkent, Jan.20 / Trend, D.Azizov /

Aggregate assets of the state joint stock commercial banks Asaka increased by 907.6 billion soums or 50.7 percent in 2010 to 2.7 trillion soums, the bank said.

The bank said the loan portfolio last year rose by 36.7 percent - up to 1.176,6 trillion soums, including long-term loans amounted to 82 percent of total loans (960.5 billion soums), short-term loans - 18 percent (216.1 billion soums).

Own bank capital increased by 13.9 percent and amounted to 407 billion soums in early 2011 given formed authorized capital in the amount of 315.6 billion soums.

Asaka was founded in 1996, mainly involved in lending to 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 16.68 percent.

In 2009, the bank increased its assets by 19.1 percent, equaling 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 Uzbek banking system is represented by 32 banks, including three state banks.

Official exchange rate on Jan.20 is 1647.41 soums to $1.

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