Uzbekistan, Tashkent, Jan.7 / Trend, D.Azizov /
Open joint stock commercial bank Microcreditbank will increase its authorised capital by 25 per cent, up to 200.2 billion soms, by placing an additional issue of shares at 40 billion soms, the bank's leadership told Trend on Monday.
According to the bank's representative, on New Year's Eve, the bank issued 37.453 million ordinary shares with a par value of 1068 soms each to the total amount of 40 billion soms.
Securities will be placed by public subscription including at least 25 per cent of the additional issue planned to be placed through the Republican Stock Exchange Toshkent.
At present, the authorised capital of Microcreditbank is formed to the amount of 160.2 billion soms, consisting 149.865 million ordinary and 135,000 preferred shares with par value of 1068 soms each.
The major shareholders of the bank are the Finance Ministry and the Central Bank, the total share of which in the bank's authorised capital is 80 per cent. According to preliminary calculations, in 2012, the bank's assets increased by 20 per cent up to 594 billion soms.
Microcreditbank was created by a presidential decree in May 2006 on the basis of the joint stock commercial bank Tadbirkor (Entrepreneur), to deliver a broad range of banking and consulting services to small enterprises, private entrepreneurs and farmers. The interest rate on the subsidised micro-credit issued by the bank to start businesses for up to 18 months to the amount of a 200-fold size of the minimum wage is set at three per cent per annum for favourable micro-leasing and for up to three years of 2000-fold the size of the minimum wage.
The bank has 82 branches and 284 mini-banks with a client base extending to more than 173,000 individuals and legal bodies.
The official exchange rate on Jan.7 is 1985, 46 soms to $1.