Net profit of Uzbek Ipoteka-bank increases by 1.6 times in 2011

Uzbekistan, Tashkent, April 8 / Trend D. Azizov /

Net profit of joint-stock commercial Ipoteka-bank, which is one of the largest banks in Uzbekistan, grew by 59.8 percent in 2011, compared to the same period in 2010, and amounted to 25.636 billion soums, a report prepared by international financial Reporting Standards (IFRS) said.

According to a report published in the media, the bank's assets grew last year by 43.1 percent - up to 1.504 trillion soums, loan portfolio grew by 63.4 percent - up to 907.808 billion soums.

Cash and cash equivalents decreased by eight per cent - to 321.241 billion soums, fixed assets increased during the reporting period by 54.7 percent - up to 54.805 billion soums.

Obligations of Ipoteka-bank reached 1.366 trillion soums in 2011 (an increase of 44.9 per cent), including customer funds increased by 38.6 percent - up to 928.379 billion soums.

Equity banking capital of the bank increased by 26.9 percent and totaled at the end of 2011, 137.66 billion soums. In particular, authorized capital increased by 47.3 percent and was at the beginning of 2012 91.181 billion soums at market value, retained earnings from previous years decreased by 18.5 percent to 9.933 billion soums.

As previously reported, in August 2011 Ipoteka-bank of Uzbekistan increased its authorized capital by 36 percent - to 87.48 billion soums, directing 23.157 billion soums from profits of previous years to the capitalization.

In August 2011 Ipoteka-bank registered the issue prospectus worth 87.483 billion soums. The bank issued 62.326 million ordinary and 2 million privileged shares with a nominal value of 1,360 soums each.

The securities were placed by private subscription among shareholders by converting shares with a par value of 1,000 soums into stock with a par value of 1,360 soums.

Bank shares are owned by 15,200 shareholders, both legal entities and individuals. The largest shareholder is the Ministry of Finance with 27.8 percent stake.

Ipoteka-bank was established in April 2005 through the merger of Uzzhilsberbank and Zamin.
The bank specializes in the lending long-term individual housing construction and financing loans.

The bank has 39 branches, 135 mini-banks, 485 savings banks and 147 exchange offices, which allows to serve about 70,000 legal entities and over 600,000 individuals. Correspondent relations were established with banks of the U.S., Germany, Russia and Holland.

In 2010, the bank's assets increased by 36.9 percent - up to 1.051 trillion soums, credit portfolio - 30.6 percent, to 555.55 billion soums, liabilities - by 1.4 times, up to 942.53 billion soums, equity capital - 11.2 percent, to 108.47 billion soums.

The official exchange rate is 1846.65 soums / $ 1on April 7.

Strengthening confidence-building measures in Azerbaijan-Armenia relations most important - Russian MFA
Strengthening confidence-building measures in Azerbaijan-Armenia relations most important - Russian MFA
Baku entitled to demand compensation from Armenia – Russian political analyst
Baku entitled to demand compensation from Armenia – Russian political analyst
US must choose between real ally Ankara and fictional history - Turkish presidential administration
US must choose between real ally Ankara and fictional history - Turkish presidential administration
Loading Bars
Latest
Azercell’s high-speed mobile internet continues to cover on and under the ground
High provision of reserves positively affects Azerbaijan's sovereign rating - Gazprombank
Azerbaijan establishes Commercialization & Technology Transfer Center
Azerbaijan's MoD shows footage from Zangilan's Najaflar village (VIDEO)
Azerbaijan maintaining stable credit position despite pandemic - Renaissance Capital
Azerbaijani currency rates for Apr. 23
Georgia, Bulgaria aiming for improvement of maritime shipping
Growing share of renewables to cause electricity price volatility
Azerbaijan enters era of fourth industrial revolution based on artificial intelligence - Ministry
India's posts world record daily COVID cases for second straight day
Situation in Azerbaijan’s Ganja city following Armenia's attack – war crime, French lawyer says
Georgia shares data on revenues from excise taxes in 1Q2021
EBRD aims to finance main economic spheres in Georgia
13 patients killed in hospital fire in western India
Azerbaijan applies world experience in construction of digital cities
Russia and Azerbaijan interested in Georgian mussels and oysters
Lending to legal entities, individuals in Azerbaijan's Nakhchivan drops
Georgia reveals volume of taxes, paid by its citizens
Azerbaijan discloses data on 1Q2021 oil export to Israel
EU leaders seek to lead climate action in carbon trading
NASA's Ingenuity helicopter logs another successful flight on Mars
More than 874,000 COVID-19 infections detected worldwide over past 24 hours
Iran cuts number of centrifuges enriching uranium to 60% purity, IAEA report says
3 rockets land near Baghdad airport in Iraq
Israel reports 189 new COVID-19 cases, 837,668 in total
Eight missing in Shanghai factory fire
Georgian FM meets Turkish counterpart in Bucharest
UN Environment, WHO support Georgia in deciding on regulation on lead paint
Uzbekistan’s business activity index sharply increases
55 new cases of "double mutation" variant found in UK in latest week
Azerbaijani athlete reaches final of European Artistic Gymnastics Championships
Azerbaijan's banking sector wraps up 1Q2021 with profit
Internet data transmission speed slightly down in Azerbaijan
National Bank of Georgia sells funds at foreign exchange auction
Georgia sees increase in vegetables export
State Customs Committee discloses export of natural gas from Azerbaijan to Georgia
Turkmen Ministry of Agriculture extends tender for purchase of necessary goods
Flydubai to resume flights at Georgian Batumi International Airport
Polymetal International boosts gold output in Kazakhstan, Russia
Brazil reports 3,472 more deaths
Kazakh gas supply company opens tender for construction of operational base
Georgia unveils data on exports of fruits and nuts in 1Q2021
Azerbaijan plans to increase production of fish and fish products
Turkey’s export of furniture and timber to Turkmenistan down
Kyrgyzstan ranks second in world in terms of cheapest mobile internet
Iran's annual exports of dried fruit, nuts grows %42
Georgia opens 69-th online session of UN Economic Commission for Europe
World community must know about Armenian atrocities in Azerbaijan – French lawyer
PM Modi announces India-US partnership on climate, clean energy
Azerbaijan Airlines to start operating special flights to London
Building of Azerbaijan’s Mud Volcanoes Tourism Complex to look like crater from above
Strengthening confidence-building measures in Azerbaijan-Armenia relations most important - Russian MFA
Georgia publishes budget performance report of 1Q2021
French lawyers arrive in Azerbaijan’s Ganja city, shelled by Armenia during war (PHOTO)
EIB financing helped to launch 60 satellites into space in 2020
EIB likely to support dev’t of renewable energy sphere in Azerbaijan
Azerbaijan shares data on number of vaccinated citizens for Apr. 22
Azerbaijan confirms 2,047 more COVID-19 cases, 2,610 recoveries
Baku entitled to demand compensation from Armenia – Russian political analyst
IATA revises 2021 forecasts of world airlines losses
Azerbaijan to open tourism bureau in Israel
Belarus to supply components for Azerbaijan to assemble tractors in 2021
Several more Russian airlines allowed to operate flights to Baku
EIB exploring new project ideas to support digitalization across Eastern Partnership
SOCAR won't participate in sales of Antipinski Refinery’s property
NCOC talks Marine Access Channels Project plans at Kazakh Kashagan field
Azerbaijan's Aghdam in complete ruins - French lawyer
Uzbekistan’s Central Bank notes decrease of inflation rate
EAG working on assessing Turkmenistan's compliance with FATF recommendations
Uzbekistan GTL to buy pipes via tender
Kazakhstan’s KazTransOil to pay out dividends for 2020
Economy Ministry shares data on revenues from Azerbaijan's non-oil and gas sector
Turkmenistan elected member of Executive Board of UN Entity for Gender Equality, Empowerment of Women
Historical monuments in Azerbaijan's Aghdam vandalized - French criminal justice attorney
Kazakhstan’s KazTransOil decreases oil transshipment volumes in 1Q2021
Turkmenistan increases processing of agricultural products
Turkmen company exports tomatoes to Austria
Autoclave gas blocks plant construction launched in Kazakhstan's Turkestan
Azerbaijan's Nakhchivan launches new communication facilities in 1Q2021
Azerbaijan's Nakhchivan sees decrease in insurance portfolio for 1Q2021
Iran’s Bahar Azadi gold coin price again falling
Azerbaijan's Nakhchivan State Statistical Committee shares data on reconstruction of roads
Equinor to electrify over 35% of its total oil & gas output base by 2025
Russia leads among countries exporting goods to Azerbaijan
Iran’s CBI allocates funds for import of essential products
Output from Georgian Enguri HPP to increase after reconstruction - Director of Enguri HPP
Azerbaijan shares footage from Jabrayil's Shahverdili village (VIDEO)
Tesla opens Tel Aviv pop-up store
Russian airline receives permission to operate flights to Uzbekistan
Uzbekistan’s 3M2021 retail trade turnover of small business decreases
Number of bank accounts increases in Azerbaijan’s Nakhchivan
American Airlines loss narrows as travel demand picks up
Azerbaijan jointly with Russia sets up car manufacturing enterprise
Number of innovative companies worldwide grows
Kazakhstan boosts production of coal, some petroleum products
Swiss president heads for damage-control EU summit
Etihad Airways to stop operating Boeing 777-300ER jets this year
Installation of info boards on roads leading to Azerbaijan's liberated lands continues (VIDEO)
French human rights activists visiting Azerbaijan's Aghdam (PHOTO)
Georgia increases imports of tomatoes from Azerbaijan
All news