Uzbek rural construction bank increases crediting more than 38%
Tashkent, Uzbekistan, Oct.31
By Demir Azizov- Trend:
Qishloq Qurilish Bank (QQB, Bank of Rural Construction) Joint Stock Commercial, a part of the five largest banks in Uzbekistan increased its assets calculated according to national accounting standards (NAS) to 37.2 percent - up to 3.394 trillion UZS in January - September 2014, the Bank's leadership told Trend Oct.31.
The official exchange rate as of October 31 is 2383.98 UZS / USD.
Total net loans and leasing operations in the first 9 months increased by 38.4 percent - to 2,964 trillion UZS.
The equity capital of the bank as of October 1, 2014 amounted to 351.249 billion UZS in view of the authorized capital in the amount of 278 billion UZS compared to 372.2 billion UZS with the capital of the same amount (a 5.6 percent decrease).
It was reported that in 2013, QQB increased its assets under NAS by 50.9 percent - to 2,473 trillion UZS, credit portfolio - by 51.1 percent to 2.142 trillion UZS.
Qishloq Qurilish Bank JSC was created in March 2009 by order of the president of Uzbekistan on the basis Gallabank.
The main shareholders are the Ministry of Finance with a share of 58.1 percent, and the Fund for Reconstruction and Development of Uzbekistan - 23.7 percent.
The bank has 42 branches and more than 220 points on providing various banking services, which allows to serve more than 400,000 customers.
The Bank is an agent of the government in the implementation of the state program of housing construction in rural areas, rural development and improvement, and specializes in lending and banking services to individuals and legal entities in fulfilling their needs in the housing and communal, social spheres and in the equipping of rural settlements.
In 2013, some 10,000 homes were built at the expense of funding from the QQB in the rural areas of Uzbekistan. In 2014, it is planned to build 11,000 individual houses in rural area according to standard designs.