Uzbek Trustbank’s assets increase by nearly 40 percent in 2012
Uzbekistan, Tashkent, June 13 / Trend, D. Azizov /
Uzbek Trustbank, a private open joint stock bank, increased its assets by 37.4 percent in 2012. In 2011, it was worth 635.887 billion soum, the bank's balance sheet audited in accordance with the International Financial Reporting Standards (IFRS) said.
According to the report, the loan portfolio grew by 15.2 percent to 144.626 billion soum, whereas liabilities increased by 37.8 percent to 569.48 billion soum.
Trustbank's equity capital increased by 33.7 percent to 66.407 billion soum, given the share capital in the amount of 22.7 billion soum. Retained earnings amounted to 42.133 billion soum compared to 30.471 billion soum in the previous year (an increase of 38.3 percent).
According to the 2012 results, the bank had a net profit of 20.97 billion soum, which is 17.9 percent more than in 2011.
Trustbank, with its main focus on providing financial services to companies on the stock market and wholesale trade was established in 1994, and was converted into a private bank by the decision of the shareholders in 2006.
The bank's structure includes six branches, 16 mini-banks, 22money transfer points, 14 exchange points and 15 savings banks.
Correspondent relations have been established with 15 banks, including with ten foreign banks.
As previously reported, private banks in Uzbekistan are those with the authorized capital, constituting no less than 50 percent of the funds generated from individuals.
The banking system of Uzbekistan is currently represented by 29 banks, of which the three largest banks - The National Bank of Foreign Economic Activity, "Asaka" bank and the People's Bank - are public, four banks were established with foreign capital, 13 are joint stock banks and nine are private.
The official exchange rate on June 13 is 2088.09 soum / $ 1.