National Bank of Uzbekistan increased its assets by a third in 2011
Uzbekistan, Tashkent, March.1 /Trend D.Azizov/
The State Commercial Xalq bank (National Bank of Uzbekistan) increased its assets by 31 per cent up to 1.618 trillion soum in 2011 compared to 2010, the bank told Trend on Thursday.
Bank's loan portfolio increased by 36.2 per cent, up to 755.8 billion soums and the liabilities by 33.6 per cent to 1.384 trillion soums in 2011.
A net profit of 37.4 billion soums at the end of 2011 was gained compared to 28.3 billion soums in the previous year, an increase by 32.2 per cent.
The Xalq bank's equity capital increased by 17.5 per cent, taking it to 234.2 billion, the result of authorised capital of $180 billion soum being generated at the start of 2012.
The authorised capital consists of 360,000 ordinary shares with a par value of 500 000 soum each. The founders of the bank are the Ministry of Finance of Uzbekistan and the Central Bank holding 51 and 49 per cent shares, respectively.
As previously reported, the President of Uzbekistan issued a decree in October 2008 to increase the authorised bank capital to 200 billion soums by additional issues of shares until the end of 2012. According to the document, the shares will be placed among the founders of the existing shares in proportion to participation.
The state-commercial Xalq Bank was reorganised from the Uzbek Republican Savings Bank in 1995. The bank is an agent of the government in implementing social programmes. It works primarily as a universal commercial bank and is a leader in terms of customers' deposits with a market share of 23 percent.
In 2009, the assets of the Bank increased 1.7 times compared to 2008 - up to 877.7 billion soums, the loan portfolio - by 77 per cent - up to 419.2 billion soums, obligations - by 71.7 per cent - up 721.1 billion soums, own capital - by 1,6 times - up to 156,7 billion sums given the formed authorised capital worth $ 100 billion soums.
The founders of the Bank are the Uzbek Ministry of Finance and the Central Bank owning 51 and 49 per cent of shares, respectively.
It has 200 branches, 2500 units, more than 200 mini-banks and 300 savings banks. Its customer base is about 30,000 cmpanies and organisations legal and nine million people.
Official exchange rate on March 1 is 1827.89 soum/$1