Assets of Saderat Iran subsidiary bank in Tashkent decrease in 2011
Uzbekistan, Tashkent, April 13 / Trend, D. Azizov /
The Bank Saderat Iran's subsidiary bank in Tashkent has reduced its assets in international financial reporting standards (IFRS) by 5.9 percent to 45.518 billion sums in 2011, the bank said on Friday.
In the assets structure, the main share accounted for funds that fell by 7.3 percent to 41.243 billion sums in 2011.
The bank's liabilities decreased by 23 percent to 16.97 billion sums last year, while equity capital increased by 8.4 per cent to 28.547 billion sums.
In 2011 the bank received a net profit of 713.53 million sums compared to 1.209 billion sums a year earlier, or a 41-percent decrease.
The subsidiary bank in Tashkent is the only bank with 100-percent foreign capital in Uzbekistan.
It was established in 1999 to render financial services on Uzbek-Iranian trade operations.
Uzbekistan's banking system today is represented by 30 banks, five of which have foreign capital.
The official exchange rate is 1849.76 sums to $1 on April 13.