Uzpromstroybank increases assets by 3.4 percent in first quarter

Business Materials 2 May 2011 13:04 (UTC +04:00)

Uzbekistan, Tashkent, May 2 / Trend, D. Azizov /
Assets of the open joint stock commercial bank Uzbek Industry-Construction Bank (Uzpromstroybank) calculated that national standard accounting has increased by 3.4 percent between January and March 2011 compared to the total figure in 2010, amounting to 2.067 trillion soums, the bank's leadership told Trend on Monday.
The bank's loan portfolio has increased by 3.97 percent since early this year to 1.49 trillion soums; its share in assets has hit 72.1 percent. The majority of loans in the first quarter, accounted for the industrial sector - 51 percent compared to 43.5 percent a year earlier, construction - 17.8 percent (21 percent), transport and communications - 12.3 percent (12.7 percent) and trade and public catering - 7.9 percent (9.2 percent).
The credit institution's equity capital increased by 3.6 percent - to 189.8 billion soums as of April 1, 2011. The bank's authorized capital amounted to 123.8 billion soums.
The authorized capital is divided into 48 million ordinary and 2 million preference shares with a nominal 2.475 soums each.

As was previously reported earlier this year, the bank issued an additional loan worth 24.2 billion soums to increase its authorized capital by 19.6 percent, to 147.95 billion soums.

In total, 9.78 million ordinary shares were issued with a par value of 2.475 soums each. The shares are placed using an open method, including the Toshkent Republican Stock Exchange.
Uzpromstroybank as the oldest bank in Uzbekistan was created in 1922 and re-registered in 1991. The main activity is crediting of enterprises of the industry's strategic branches. The bank has 45 branches, 176 savings banks, 65 mini-banks located in all regions of the republic and a representative office in Moscow.
Assets of Uzpromstroybank grew by 25.9 percent and amounted to 1.999 trillion soums in 2010 compared to 2009. The loan portfolio last year increased by 14.1 percent and amounted to 1.433 trillion soums. Owned capital grew by 24.6 percent, up to 214.94 billion soums, with the formed authorized capital worth 123.75 billion soums.
The bank's shares are owned by 35,062 shareholders, including 31,500 physical persons and 3,562 legal entities. The biggest shareholders are the Uzbek Finance Ministry (35 percent equity) and the Reconstruction and Development Fund (26 percent).