Uzbek Rural Construction Bank increases assets by 1.5 times in 2013

Tashkent, Uzbekistan, May 7
By Demir Azizov- Trend:

"Qishloq Qurilish Bank" (Rural Construction Bank) open joint stock commercial bank, which was included in the top-five of large Uzbek banks, increased net assets calculated according to national accounting standards (NAS) by 50.9 percent -up to 2.473 trillion soums

As the end of 2013, the total amount of credit investment of the bank totaled 2.142 billion soums, which is 51.1 per cent higher than the same period in 2012, the report noted.

The report does not provide the total amount of the bank's liabilities.

"The volume of deposits attracted by banks amounted to 512.5 billion soums," the report said without specifying the dynamics in 2012.

At the end of 2012, the customer deposits in the bank reached about 738 billion soums. Thus, the amount of customer deposits decreased by 30.5 percent last year.

Furthermore, some $121.1 million around 96.9 percent of which is made up of funds of the Asian Development Bank, 2.8 percent - Islamic Corporation for Development of the Private Sector, 0.3 percent - International Development Association (IDA is part of the World Bank) have been attracted through credit lines from international financial institutions in 2013.

The bank`s own capital increased by 47.1 percent - up to 372.2 billion soums (including authorized capital of 278 billion soums).

"Qishloq Qurilish Bank" was established in March 2009 by order of the Uzbek President on the basis of "Gallabank".

The main shareholders of the bank are the Ministry of Finance of the country with a share of 58.1 per cent and Uzbekistan's Fund for Reconstruction and Development - 23.7 percent.

The bank has 42 branches and more than 220 points for providing various banking services that allows it to serve more than 400,000 customers.

The Bank is an agent of the Uzbek Government in the implementation of the state program of housing construction for rural areas, rural development, specializes in lending and banking services to the population and legal entities in fulfilling their needs for housing and utilities, social spheres, and equipping of rural settlements .

Some10,000 houses on standard designs were built in Uzbekistan in rural areas at the expense of bank financing in 2013 and since 2009 (since the beginning of the government program ) - 33,500 houses .

The official exchange rate on May 7 is 2284.42 soum / $ 1.

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

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