Uzbek bank Asaka increases assets

Business Materials 21 July 2011 19:46 (UTC +04:00)

Uzbekistan, Tashkent, July 21 / Trend D.Azizov /

Asaka, the second largest major bank for its banking indicators in the Uzbek banking system, increased its assets by 9.8 percent in January - June 2011 equaling its to 2.963 trillion soums compared to the figure of 2010, the bank said.).

Loan investment and leasing increased by 25.5 percent since early this year and amounted to 1.476 trillion soums. This included long-term loans, which account for 77.7 percent of total loans (1.146 trillion soums).

Independent bank capital has increased by 6.4 percent and amounted to 433.2 billion soums as of early July, given the formed authorized capital in the amount of $315.6 billion soums.

The bank's commitments increased by 10.4 percent and amounted to 2.53 trillion soums, including population deposits increased by 3.5 percent and amounted to 204.4 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 1.722.40 soum/$1 on July 21.