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Uzbek-Turkish Bank's net profit decreases by 15.5 percent in 2010

Business Materials 29 July 2011 14:15

Uzbekistan, Tashkent, July 29 / Trend D. Azizov /

The Uzbek-Turkish Bank's net profit decreased by 15.5 percent - up to 1.53 billion soums as of 2010, the bank report said.

According to the report, the bank's assets last year increased by 45.7 percent - up to 137.27 billion soums. The loan portfolio decreased by 32.3 percent - up to 4.025 billion soums.

The bank's obligations increased by 45.8 percent - up to 118.6 billion soums, including customer deposits - by 31.3 percent, up to 103.81 billion soums.

Private capital increased by 45.1 percent - up to 18.675 billion soums as of December 31, 2010. Authorized capital increased by 3.5 times - up to 9.252 billion soums.

The bank was created in 1993 as a closed joint stock company. The founders of the bank were Turkish bank TS Ziraatbank and Uzbek Joint-Stock Commercial "Pakhtabank" ("Agrobank").

The bank's priorities are to finance trade transactions between economic entities in the two countries, as well as to promote establishment and function of Uzbek-Turkish joint ventures in Uzbekistan.

Correspondent relations were established by 10 foreign banks, including the Deutche bank trust company, Ziraat New York Branch, Fortis bank, and others.

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