Uzbek banks up lending to small business

Business Materials 17 October 2011 13:35 (UTC +04:00)

Uzbekistan, Tashkent, Oct. 17 / Trend , D.Azizov /

Commercial banks of Uzbekistan in January-September of 2011 increased lending to small business and entrepreneurship by 1.5 times compared to the same period of 2010 - up to 3.1 trillion sums, the Central Bank of Uzbekistan said on Monday.

According to information, $99.2 million was allocated to finance investment projects in this sphere through foreign credit lines of international financial institutions.

Long-term loans for businesses, upgrading existing production and technological renovation amounted to more than 2.02 trillion sums, or 65 percent of total loans to small businesses.

According to the Central Bank, since the beginning of the year, the banks allocated 568.4 billion sums loans to enterprises for the production of foodstuffs and 248.3 billion sums - the development of the service sector.

Some 42.9 billion sums was allocated for the development of crafts and family entrepreneurship and 18.1 billion sums- the financing of business projects of graduates of professional.

The amount of micro-loans has increased by 1.5 times - up to 584.5 billion sums as compared to the same period of the previous year.

The banking system of Uzbekistan is currently comprising of 30 banks, including three state, five - with the participation of foreign capital, 11 - equity and 11 - private.

In 2010, total assets of banks in Uzbekistan increased by 32.1 percent compared to 2009 and amounted to 20.739 trillion sous, the total loan portfolio - 35 percent to 11.539 trillion sums, total bank capital - 36.2 percent to 4.1 trillion sums.