Uzbek bank increases assets by 12.5 percent in first quarter

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

The State Commercial Halk Bank (the National Bank of Uzbekistan) increased its assets during the first quarter of 2011 by 12.5 percent, as calculated according to national accounting standards, up to 1.389 trillion soums compared to 2010, the bank said.

The loan portfolio increased by 17.3 percent, up to 6.511 billion soums in January-March. Including the volume of credits granted to individuals, the increase was 16 percent - up to 2.035 billion soums (31.3 per cent of the loan portfolio). About 4.476 billion soums (68.7 percent of total loans) were allocated to legal entities.

The share of investment loans for legal entities exceeded 94 percent, the bank said.
The total volume of drawn deposits grew by 9 percent - up to 9.837 billion soums - since early 2011. Deposits increased by 7 percent - up to 644 billion soums. The figure reached 65.5 percent of the total amount borrowed by the bank.

The state-commercial Halk Bank was established in 1995 by the Uzbek national savings bank. The bank is a government agent which implements social programs and works as a universal commercial bank.

At present, Halk Bank plays a key role in the Uzbek banking system. It consists of 14 territorial branches, 185 district and municipal branches, 242 mini-banks and more than 2,600 total branches and savings banks combined. The bank serves 30,000 legal and 9 million physical entities.

The authorized capital of credit organizations comes to $160 billion soums. It consists of 320,000 ordinary shares with par value of 500,000 soums each. The founders of the bank are the Uzbek Ministry of Finance and the Central Bank holding 51 and 49 percent shares, respectively.

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