Uzbek Aloqabank ups assets on IFRS in 2011
Uzbekistan, Tashkent, June 19 / Trend, D. Azizov /
Open Joint-Stock Commercial "Aloqabank" of Uzbekistan increased its assets calculated on the International Financial Reporting Standards (IFRS) by 1.4 times in 2011 up to 478.894 billion sums compared to 2010, according to the balance sheet of the bank.
Last year the bank increased the volume of credit investments almost twice - by 95.2 percent, up to 252.71 billion sums, the amount of liabilities - by 45.3 percent up to 403.455 billion sums.
In the structure of liabilities customer deposits increased by 1.5 times - up to 344.171 billion sums, including demand deposits - by 28.6 percent up to 232.482 billion sums, fixed deposits - by 2.3 times up to 111.688 billion sums.
Equity capital of "Aloqabank" as of Dec.31, 2011 amounted to 75.439 billion sums, which is 23.7 percent higher than the same period of 2010. In particular, shareholders' equity, calculated at market value, increased by 18 percent up to 60.757 billion sums last year.
The bank's authorized capital consists of 588 million common and 12 million privileged shares with face value of 100 sums each.
Shares of the credit institution are divided among more than three thousand shareholders. The largest shareholders are fund of information and communication technologies (ICT) and the Center for Electromagnetic Compatibility (TSEMS) which are the part of the structure of the Uzbek Agency for Communication and Information (UzACI), JSC Uzbekistan pochtasi JSC Uzbektelecom, with about 20 percent of share each organization, and Tashkent University of information Technology - 14 percent.
In 2011, net income of "Aloqabank" increased by 39.2 percent - up to 9.274 billion sums.
Aloqabank, referring to the number of medium-sized banks in Uzbekistan, was founded in 1995 by order of the Cabinet of the ministers. The main activity of the bank is lending to enterprises and telecommunications complex. Its founders are companies and organizations of the Uzbek Agency for Communication and Information (UzACI). There are 12 branches in all regions of the country, 27 mini-banks, 38 savings banks, 35 exchange points, 18 points of the international money transfer in the structure of the bank.
The official exchange rate is 1881.31 sums to $1 on June 19.