Uzbek Central Bank revokes license of private Amirbank
Tashkent, Uzbekistan, June 6
By Demir Azizov- Trend:
The Central Bank of Uzbekistan has revoked the license for conducting banking operations of the private open joint stock commercial Amirbank, the press service of the regulator reported.
"In accordance with the Article 53 of the Law of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan" and the Article 14 of the Law of the Republic of Uzbekistan "On banks and banking activity" the Central Bank of Uzbekistan revoked the license for conducting banking transactions of the private open joint commercial "AMIRBANK", in regards to violations of the existing banking legislation, the report said.
No comments were made by the Central Bank, regarding what violations caused the license to be revoked.
As reported last week, the Standard & Poor's credit rating services withdrew Amirbank`s long-and short-term ratings due to non-receipt of timely information from the issuer required to maintain the ratings.
Amirbank was established in Samarkand in October 2008. It is among small regional banks. Amirbank's owners are 18 physical and eight legal entities.
As of 2012, the bank's net assets increased by 23.1 percent - up to 27.459 billion soums, the total loan portfolio - by 19.7 percent to 12.776 billion soums, equity - 1.3 times, up to 13.891 billion soums.
The figures for 2013 are not currently available.
The official exchange rate on June 6 is 2300.57 soum/$ 1.
Thus, today there are 26 banks operating, including three state banks, four - with the participation of foreign capital, 11 joint-stock and eight private banks in the Uzbek banking system.
As reported earlier, according to the established order in the country private banks in Uzbekistan are considered the banks of which registered capital is not less than 50 percent of the funds generated by individuals.
Total assets of Uzbek commercial banks increased by 0.5 percent In January - March 2014 compared to the results of 2013 - up to 44.1 trillion soums. The total loan portfolio of banks increased by 1.1 percent - up to 26.8 trillion soums, total equity capital of commercial banks on April 1, 2014 amounted to 6.5 trillion soums, which corresponds to the final figure of 2013.
Edited by CN