Uzbek Promstroybank in January-September increased its assets by 16%

Business Materials 23 December 2011 05:47 (UTC +04:00)

Uzbekistan, Tashkent, Dec. 22 /Trend D. Azizov/

Industry and Construction Bank of Uzbekistan (Uzpromstroybank), the third largest of major financial indicators in the banking system of the country in January - September 2011 increased assets, calculated according to national accounting standards (NAS), a 16.2 per cent compared with 2010 totals year - up 2.323 trillion soums, said the bank on Thursday.

Bank's loan portfolio since the beginning of the year grew by 8.7 percent - up 1.558 trillion soums, and its share in the assets was 67.1 percent.
The volume of earning assets in total assets increased from 83.7 percent to 84.6 percent.

Equity capital of the credit institution has increased by 15.5 percent - up to 219.3 billion soums on October 1, 2011, including the bank's authorized capital at the same date was set up in $ 146 billion soums.

As previously reported, in late November of this year Uzpromstroybank completed the placement of additional shares to 24.255 billion soums, released in early 2011, resulting in authorized capital was increased by 19.6 percent - up to 147.956 billion soums.

It was released 9.78 million ordinary shares with par value 2.475 thousand soums each. Placement of shares was carried out openly, including through the Republican Stock Exchange "Toshkent".

Currently, the bank's authorized capital is divided into 57.78 million common and preferred two million shares of 2.475 thousand soums each.

Bank shares owned by more than 35 thousand shareholders, including about 31.5 thousand natural persons and legal entities 3.6 thousand. The largest shareholders are the Ministry of Finance of Uzbekistan Fund for Reconstruction and Development, which collectively account for 51 per cent.

Uzpromstroybank is the oldest Uzbek bank founded in 1922 and re-registered in 1991. It is specialized primarily in the crediting of strategic industries facilities. The bank's structure consists of 45 branches, 176 branches of savings banks and 65 mini-banks throughout the country, and a branch representation in Moscow.

In 2010, the bank increased its assets calculated according to national accounting standards by 25.9 per cent against 2009 up to 1.999 trillion som at a time when the portfolio of credits rose by 14.1 per cent up to 1.433 trillion som, and the own capital was increased by 24.6 per cent up to 214.94 billion som, which includes the statutory capital of 123.75 billion som.

The official exchange rate on December 22 is 1791.38 som/$1.