Tashkent, Uzbekistan, April 29
By Demir Azizov - Trend:
Asaka State Joint-Stock Commercial Bank, ranking second on the amount of the main bank indices in the Uzbek banking system, increased its assets by 7.5 percent up to 4.543 trillion soums in 2013 compared to 2012, according to the bank's balance sheet.
The assets were calculated upon the International Financial Reporting Standards. The bank's loan portfolio in a total volume of assets increased by 20.4 percent - up to 2.903 trillion soums, cash and cash equivalents decreased by 38.8 percent to 562.2 billion soums, fixed assets increased by 15.7 percent - to 98.7 billion soums in 2013.
The amount of liabilities for the previous year increased by 6.6 percent - to 3.965 trillion soums. The clients' funds increased in the reporting period by 12.9 percent to 3.16 trillion soums.
The bank's equity as of early 2013 amounted to 577.367 billion soums compared to 507.264 billion soums in the previous year (a 13.8 percent growth), including share capital, calculated at a market value, increased by 18.8 percent - up to 469.802 billion soums, retained earnings decreased by 4.6 percent - 54.788 billion soums.
As of 2013, Asaka bank earned a net profit of 63.119 billion soums compared to 47.585 billion soums in 2012 (a 32.7 percent growth).
Asaka bank was established in 1996. The bank is mainly involved in lending to the automotive industry.
As of January 1, 2014, 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, UzGazOil - 5.06 percent, Almalyk Mining and Metallurgical Combine - 2.53 percent, Uzbekistan Railways - 1.27 percent, Uzagrosugurta state joint stock insurance company - 0.5 percent, Uzbektelecom - 0.28 percent, UzbekInvest national export-import insurance company and Khalq Sug'urta insurance company - 0.13 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.
In 2012, Asaka State Joint-Stock Commercial Bank increased its assets, calculated in accordance with the International Financial Reporting Standards, by 21 percent up to 4.228 trillion soums, credit investments - by 9 percent (to 2.412 trillion soums) and equity - by 20.1 percent (up to 507.264 billion soums), net profit - by 18.4 percent (up to 47.585 billion soums) compared to 2011.
There are 27 commercial banks, including three state banks, 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 2276.19 soums/$1 on April 29.
translated by NH
edited by CN