Uzbekistan, Tashkent, July 3 / Trend D. Azizov /
The Uzbek Industrial and Construction Bank (Uzpromstroybank) is the third largest bank in terms of major financial indices in the banking system. It has increased its registered capital by 12.5 percent to 166.543 billion soums, the bank told Trend today.
According to the bank, the bank issued an additional emission of shares worth 166.543 billion soums at the end of last week. About 57.78 million common and two million preferred shares worth 2,785 soums each have been issued. The shares were distributed by private
subscription among the shareholders according to the market shares.
The additional issue was undertaken upon the decision of the annual general meeting of shareholders to increase the share capital by increasing the nominal value of shares of the profits earned in 2011, and part of the unallotted profit of previous years.
The president issued a decree in early April to increase the authorized capital of "Uzpromstroybank" by twice - up to 300 billion soums in 2012-2013.
In the near future, the bank will start preparing another additional issue to increase the share capital to 300 billion soums.
Uzpromstroybank is the oldest bank in Uzbekistan. It was established in 1922 and re-registered in 1991. The main activity is to lend the enterprises of the strategic sectors of industry. The structure of the bank includes 45 branches, 176 savings banks, 65 mini-banks located in all regions of the republic, a representative office in Moscow.
Uzpromstroybank's assets increased by 79.4 percent to 3.46 trillion soums in 2011 compared to 2010, credit portfolio - 63.6 percent - to 2.23 trillion soums, the liabilities - by 85.4 percent to 3.24 trillion soums, the equity of the credit organization increased by 22.7 percent - up to 224.95 billion soums, net income increased by 1.8 times - up to 22.603 billion soums.
The official exchange rate is 1.888.64 soums /$ 1 on July 3.