Asaka bank increases its assets by eight percent in Uzbekistan in 2013
Tashkent, Uzbekistan, Jan. 31
By Demir Azizov - Trend:
Asaka State Joint-Stock Bank, Uzbek's second largest commercial bank, increased its assets by 7.9 percent up to 4.641 trillion soums in 2013 compared to 2012, the bank told Trend on Friday.
The volume of credit investments and leasing increased by 31.8 percent up to 2.438 trillion soums in 2013. The long term loans amounted to 71.3 percent (1.738 trillion soums), including investment loans - 61.2 percent (1.493 trillion soums) in the structure of the loan portfolio of the bank, according to the source.
The bank's equity increased by 17.8 percent and amounted to 691.1 billion soums as of January 1, 2014 taking into account the formed authorised capital worth 419.881 billion soums.
Asaka bank was established in 1996. The bank is mainly involved in lending to the automotive industry.
At present, the bank's shareholders are the Finance Ministry - 60.97 percent of shares, Uzavtoprom - 14.58 percent, and the Uzbek Reconstruction and Development Fund - 14.56 percent.
The bank has 26 subsidiaries, mini-banks and some savings and special cash desks receiving utility bills. Corresponding relations were established with more than 170 CIS banks and foreign countries.
There are 27 commercial banks, including three state, four with foreign capital, 11 joint stock and nine private in the Uzbek banking system.
The total assets of Uzbek commercial banks increased by 30.2 percent to 43.9 trillion soums in 2013 compared to 2012. The total loan portfolio increased by 29.9 percent to 26.5 trillion soums and the aggregate bank capital increased by 4.8 percent to 6.5 trillion soums.
The official exchange rate is 2.203.49 soums/$1.
Translated by NH
Edited by SM