Uzbek bank’s assets up by 25.4 per cent in Jan.-Sept.

Business Materials 25 October 2012 16:32 (UTC +04:00)

Uzbekistan, Tashkent, Oct. 25 / Trend D.Azizov/

Uzbek Alokabank increased its assets, calculated in accordance with the National Accounting Standards, by 25.4 42 per cent up to 611.9 billion soums in Jan.-Sept. compared to 2011, the bank said today.

The bank's equity capital, taking into account the authorized capital of 60 billion soums, increased by 24.8 per cent to 99.8 billion soums.

A net profit of Alokabank amounted to 9.2 billion soums as of nine months compared to 5.5 billion soums the previous year. The figure increased by 67.3 per cent.

Alokabank, a medium-size bank, was established according to the Cabinet of Ministers' resolution in 1995. The bank specializes in issuing credits to telecommunications facilities.

The bank has 12 office branches in the country, 27 mini-banks, 38 savings branches, 35 currency exchange points, and 18 international money transfer points.

The bank's stock is shared among over 3,000 shareholders. The bank's biggest shareholders are the Information and Communications Technologies Development Center and Electromagnetic Compatibility Center, which are part of the UTIA and hold 19.99 per cent each, as well as the Tashkent Information Technologies University (14.71 per cent).

In 2011, the bank increased its assets, calculated in accordance with the national accounting standards by 42 per cent up to 488 billion soums compared to 2010. The bank's equity capital in 2011 increased by 23 per cent - to 79.7 billion soums, the net profit increased by 46 per cent - up 10.2 billion soums.

The official exchange rate on Oct. 25 is 1.952.60 soums/$1.