Uzbek bank among ten best microfinance banks in Central Asia and Europe
Uzbekistan, Tashkent, Aug. 3 / Trend D. Azizov /
Uzbek "Microcreditbank" is ranked among the top ten microfinance banks in Central Asia and Europe by "Micro-Capital Market Review", a Boston-based journal in the US covering the world's microfinance news.
According to rankings published in the July issue, "Microcreditbank" ranked fifth among 150 micro-credit banks in Central Asia and Europe.
"Microcreditbank" was created by a presidential decree in May 2006 on the basis of joint-stock commercial bank "Tadbirkor" (Entrepreneur) to deliver a broad range of banking and consulting services to small enterprises, private entrepreneurs, and farmers.
The bank has 82 branches and 284 mini-banks. The client base extends to more than 173,000 physical and legal entities. "Microcredit" is a member of the Association of Banks of Asia and a member of the Microfinance Centre for Europe and the CIS.
In 2010 the bank's assets increased by 15.6 percent - up to 412 billion soums. The loan portfolio increased by 13 percent - up to 320.7 billion soums. The total capital increased by 2.9 percent - up to 166.2 billion soums.
The largest shareholders are the Ministry of Finance and the Central Bank.
The official exchange rate for Aug. 3 is 1,727.00 soums per $1.