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Uzbek National Bank for Foreign Economic Activity increases assets by 3.4 percent in first quarter

Business Materials 3 May 2011 10:59
The National Bank for Foreign Economic Activity, the largest bank in Uzbekistan, has released the consolidated balance for 2011, showing an increase by 3.4 percent in the first quarter, as compared to the total figure in 2010, reaching 9.63 trillion soums.

Uzbekistan, Tashkent, May 3/ Trend, D. Azizov /
The National Bank for Foreign Economic Activity, the largest bank in Uzbekistan, has released the consolidated balance for 2011, showing an increase by 3.4 percent in the first quarter, as compared to the total figure in 2010, reaching 9.63 trillion soums.
The loan portfolio volume hit 3.859 trillion soums in January-March, with an increase of 5.1 percent, including shares from long-term loans which hit 80.6 percent in the cumulative number of loans.

The bank's capital reached 785 billion soums as of April 1, 2010.
The National Bank for Foreign Economic Activity of Uzbekistan was founded in September 1991 as a government agent in international financial markets. At present it acts as a universal commercial bank.

The Bank has approximately 100 branches and offices, with a subsidiary bank "AsiaInvestBank" in Moscow. The bank serves about 2.5 million physical and legal entities. Correspondent relations have been established with 650 foreign banks.

According to the bank, in 2010 the consolidated balance sheet increased twice and amounted to 9.314 trillion soums, the loan portfolio - about 1.6 times to 3.672 trillion soums.
The Uzbek banking system is represented by 31 banks, including three state banks, five with foreign capital, 11 joint-stock banks and 12 private.

The total assets of the Uzbek commercial banks have increased by 10.5 percent to 22.925 trillion soums in the first quarter of 2011, as compared to 2010. The total loan portfolio has increased by 12.5 percent to 12.986 trillion soums and the aggregate bank capital - by 10.4 percent from the beginning of the year to 4.528 trillion soums on April 1, 2011.

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