Uzbekistan, Tashkent, April 10 / Trend D. Azizov /
The Asaka State Joint Stock Commercial Bank, the second largest commercial bank in Uzbekistan, will increase its authorised capital by 9.3 per cent up to 394.88 billion soums, the bank told Trend on Wednesday.
The bank said that according to the decision of the general meeting of shareholders as of 2011, the authorised capital will be increased through the capitalisation of the net profits by increasing the nominal value of each share by 4900 soums to 57,500 soums.
In June 2012, the bank's shareholders made a decision to transfer 72.2 per cent of the total net income as of 2011 (33.651 billion soums) for capitalisation.
Last week, the bank registered an additional issue of shares worth 394.883 million soums only 6.867 million shares of common non-cash shares with a par value of 57,500 soums each.
The securities are planned to be placed through a closed subscription among shareholders of the bank.
The bank's authorised capital has been formed to the sum of 361.232 billion soums and divided into 6.867 million shares of 52,600 soums each.
At present, the bank's shareholders are the Finance Ministry - 60.97 per cent of shares, Uzavtoprom - 14.58 per cent, the Uzbek Reconstruction and Development Fund - 14.56 per cent, UzGAZOil - 5.06 per cent, Almalyk Mining and Metallurgical Combine - 2.53 per cent, Uzbekistan Railways - 1.27 per cent, Uzagrosugurta state joint stock insurance company - 0.5 per cent, Uzbektelecom - 0.28 per cent, UzbekInvest national export-import insurance company and Khalq Sug'urta insurance company - 0.13 per cent.
Asaka bank was established in 1996. The bank is mainly involved in lending to the automotive industry.
The bank has 26 subsidiaries, mini-banks, some savings and special cash desks receiving utility bills. Corresponding relations were established with more than 170 CIS banks and foreign countries.
In 2012, Asaka State Joint-Stock Commercial Bank increased its assets calculated in accordance with National Accounting Standards, by 21.7 per cent compared to the corresponding figure in 2011, up to 4.3 trillion soums, credit investments - by 16.5 per cent (to 1.85 trillion soums) and equity - by 20 per cent (up to 586.5 billion soums).
The official exchange rate is 2.049.18 soums/$1 on April 10.