Uzbek National Bank increased its assets 1.2 times in 2012
Uzbekistan, Tashkent, June 4 / Trend D.Azizov /
The assets of the National Bank for Foreign Economic Activity of Uzbekistan (NBU), the largest commercial bank in the country, are calculated in accordance with International Accounting Standards (IAS) and in 2012 increased by 19.9 per cent to 9.443 trillion soum compared to the same period in 2011, according to the bank's balance sheet.
According to the report, the loan portfolio grew last year by 17.6 per cent to 5.512 trillion soum, while the liabilities increased by 20.6 per cent (to 8.568 trillion soum). Equity capital increased by 13.4 per cent and amounted to 875.049 billion soum given the share capital to the sum of 623.867 billion soum and retained earnings were 227.115 billion soum (a 74 per cent growth). According to the 2012 results, the bank had a net profit of 97.073 billion soum compared to 67.598 billion soum in the previous year (an increase of 43.6 per cent).
The National Bank of Uzbekistan was established in September 1991 as a government agent on the international financial markets and currently operates as a universal commercial bank. The bank's sole shareholder is the Cabinet of Ministers of Uzbekistan. The bank's structure is composed of 14 regional offices, 92 branches and subsidiary bank AsiaInvestBank in Moscow.
The bank serves about three million individuals and businesses. Correspondent relations have been established with 650 foreign banks. The banking system of Uzbekistan currently includes 29 commercial banks, including three state banks, four banks with the participation of foreign capital, 13 joint-stock banks and nine private ones. In 2012, the total assets of Uzbek banks increased by 30.2 per cent compared to the totals in 2011 to 35.7 trillion soum, the total loan portfolio by 30.5 per cent (to 20.4 trillion soum) and the aggregate bank capital by 24.3 per cent (to 6.2 trillion soum). The official exchange rate on June 4 is 2084.95 soum / $ 1.