Uzbek "Ipak Yuli" bank increases assets by more than 24% in 2013

Tashkent, Uzbekistan, May 1
By Demir Azizov- Trend:

Open Joint-Stock Innovation Commercial Bank (OJSICB) Ipak Yuli, included in the number of medium-sized banks in Uzbekistan, increased its assets accounted for International Financial Reporting Standards by 24.2 percent compared to the same period in 2012- to 1.015 trillion soums.

The report noted that the volume of bank loans issued to customers last year increased by 23.7 percent - to 409.057 billion soums.

Furthermore, the bank's liabilities increased by 11.7 percent - up to 911.623 billion soums in 2013, including the amount of deposits - by 17.3 per cent (up to 789.705 billion soums).

The report stated that call deposits in the total volume of deposit investment of the bank increased by 21.2 percent - up to 547.342 billion soums, savings - by 11.2 percent (up to 41.48 billion soums), term deposits - by 1.2 per cent (up to 137.276 billion soums).

As of 2013, the net profit of the bank increased by 10.4 percent up to 21.11 billion soums.

The bank`s equity increased by 35 percent - to 102.898 billion soums - given the formed authorized capital, accounted at market value in the amount of $ 62.461 billion soums for December 31, 2012 (annual growth - 37.7 per cent) and unallocated profits in the amount of 38.814 billion soums (growth of 32.5 percent).

At present, the authorized capital of the "Ipak Yuli" bank fully formed in the amount of 50.9 billion soums and makes up 508.944 million ordinary and 60,000 preference shares with nominal of 100 soums each.

The bank`s shares are owned by about 1000 shareholders - legal entities and individuals, the largest of which are the "UzbekInvest" National Export-Import Insurance company (about 18 percent) and the Asian Development Bank (13.56 per cent).

"Ipak Yuli" bank was created in 1990. The Bank has a branched structure of mini-banks, express centers, branch offices in Tashkent and several regions of the country.
Correspondent banking relationships have been established, in particular with the German "Commerzbank AG" and "Deutsche Bank AG", the Austrian "Raiffeisen Zentralbank Oesterreich", Kazakh "Kazkommerzbank", as well as "American Express Bank" (USA).

Official exchange rate on May 1 is 2280.28 soums / $ 1.

Translated by S.I.
Edited by C.N.

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