Uzbek Asaka bank increases assets by over 18% since early 2014
Tashkent, Uzbekistan, Oct. 30
By Demir Azizov - Trend:
Asaka State Joint-Stock Commercial Bank ranks second in the amount of the main bank indices in the Uzbek banking system. Its assets hit 5.5 trillion soums as of January-September 2014 according to the national accounting standards, the bank said.
The bank's assets totaled 4.641 trillion soums according to the national accounting standards in 2013. Thus, Asaka's total assets have increased by 18.5 percent since early 2014.
Asaka's volume of credit investments, including leasing, increased by 5.3 percent - to 2.566 trillion soums in the reporting period. The term loans amounted to 77.8 percent (1.995 trillion soums), including investment loans - 66.4 percent (1.703 trillion soums) in Asaka's loan portfolio structure.
The bank's total capital increased by 6.5 percent during this period. As of October 1, 2014, it hit 736.1 billion soums (taking into account the authorized capital worth 419.881 billion soums).
Asaka bank was established in 1996. The bank is mainly involved in lending to the automotive industry.
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 banks in the CIS and foreign countries.
There are 27 commercial banks, including three state banks, four with foreign capital, 11 joint stock, and nine private banks in the Uzbek banking system.
The total assets of Uzbek commercial banks increased by 11.4 percent to 48.9 trillion soums in January-September 2014 compared to 2013. The total loan portfolio increased by 14.3 percent to 30.3 trillion soums and the aggregate bank capital increased by 1.5 percent to 6.6 trillion soums.
The official exchange rate is 2383.98 soums/$1.
edited by CN