Uzbek bank increases assets

Uzbekistan, Tashkent, April 21 / Trend, D.Azizov /
Asaka, the second largest major bank for its banking indicators in the Uzbek banking system, increased its assets calculated on national accounting standards (NAS) by 1.2 percent in January - March 2011 equaling its to 2.732 trillion soums compared to the figure of 2010, the bank said on Thursday.
According to sources, loan investment and leasing increased by 12.5 percent since early this year and amounted to 1.324 trillion soums. This included long-term loans, which account for 77.3 percent of total loans (1.024 trillion soums).
Independent bank capital has increased by 2.9 percent and amounted to 418.9 billion soums as of early April, given the formed authorized capital in the amount of $315.6 billion soums.
The bank's commitments during the first three months of the year increased by 0.9 percent and amounted to 2.313 trillion soums, including population deposits increased by 10.1 percent and amounted to 217.5 billion soums.
Asaka was founded in 1996 and was 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 2010 the bank increased its assets by 50.7 percent, equaling 2.699 trillion soums compared to 2009. Its loan portfolio increased by 36.7 percent to 1.176.6 trillion soums, and its authorized capital by 13.9 percent to 407 billion soums.
There are 32 banks in Uzbekistan, including three state-owned banks, five banks with foreign capital, 11 joint-stock banks and 13 private banks.
The official exchange rate is 1,689.23 soum/$1 on April 21.