Uzpromstroybank doubled authorized capital
Uzbekistan, Tashkent, April 2 /Trend D.Azizov/
President of Uzbekistan Islam Karimov signed a decree according to which the authorized capital of Uzpromstroybank should be increased by more than twice - up to 300 billion soums in 2012 - 2013.
The increase in capital must be ensured through the issuance of additional share amounting to 152 billion soums in accordance with the decision of the President "On additional measures to increase the capitalization of the open joint-stock commercial bank" Uzbek Industrial Construction Bank ", published in the electronic media of the country on Monday.
Some 44.5 billion soum of the total additional issue will be redeemed by the Ministry of Finance, the Fund for Reconstruction and Development of Uzbekistan (FRDU) - up 33.1 billion soum, Uzbekneftegaz, Uzbekenergo, Uzhimprom and other investors - 74.4 billion soums each, the decree said.
Currently, the authorized capital of Uzpromstroybank formed at a rate of 148 billion soum, it is divided into 57.78 million common and two million preferred shares of 2.475 thousand soum each.
More than 35,000 shareholders, including about 31.5 thousand of natural persons and 3.6 thousand of legal entities own the shares of the bank. The largest shareholders are the Ministry of Finance and FRDU combined share of which is 51 percent.
Uzpromstroybank as the oldest bank in Uzbekistan was created in 1922 and re-registered in 1991. The main activity is crediting of enterprises of the industry's strategic branches. The bank has 45 branches, 176 savings banks, 65 mini-banks located in all regions of the republic and a representative office in Moscow.
The bank increased assets by 79.4 percent to 3.46 trillion soum compared to 2010, credit portfolio - 63.6 percent - to 2.23 trillion soum liabilities - by 85.4 percent to 3.24 trillion soum, the equity of the credit institution increased by 22.7 percent - up to 224.95 billion soum.
Uzpromstroybank's net profit amounted to $22.603 billion soum in 2011, which is 1.5 times higher compared to 2010.
Official exchange rate on April 2 is 1843.50 soum/$1