Uzbek Asaka bank decreases assets by 0.4% in Jan.-March

Tashkent, Uzbekistan, April 22

By Demir Azizov- Trend:

Asaka State Joint-Stock Commercial Bank's assets, calculated upon the national accounting standards, totaled 5.362 trillion soums versus 5.383 trillion soums as of December 31, 2014, the bank said.

The total assets have decreased by 0.4 percent for three months.

Asaka's volume of credit investments, including leasing, increased by 2.4 percent - to 3.550 trillion soums in January-March compared to early 2015.

The volume of loans issued in foreign currency increased by 20.6 percent - up to 1.161 trillion soums, mortgage loans - by 5.5 percent up to 214.2 billion soums, consumer loans - by 8.2 percent up to 23.9 billion soums, the amount of micro-loans reduced by 7.6 percent - to 62.3 billion soums.

The total volume of deposits decreased by three percent - up to 3.342 trillion soums as of the first quarter of this year. The public funds in a total volume of deposits increased by 2.1 percent - up to 500.9 billion soums.

Asaka's equity increased by 4.5 percent - up to 837.7 billion soums as of April 1, 2015 given the authorized capital formed in the amount of 508.5 billion soums.

At present, the bank's shareholders are the Finance Ministry - 60.96 percent of shares, Uzavtoprom - 14.58 percent, the Uzbek Reconstruction and Development Fund - 14.56 percent, UzGAZOil - 5.06 percent, Almalyk Mining and Metallurgical Combine - 2.53 percent, Uzbekistan Railways - 1.27 percent, Uzagrosugurta state joint stock insurance company - 0.5 percent, Uzbektelecom - 0.28 percent, UzbekInvest national export-import insurance company and Khalq Sug'urta insurance company - 0.13 percent.

Asaka bank was established in 1996. The bank is mainly involved in lending to the automotive industry.

In 2014, the bank's assets, calculated upon the national accounting standards, increased by 16 percent up to 5.383 trillion soums, equity - by 16 percent to 801.7 billion soums compared to 2013.

The official exchange rate is 2507.40 soums/$1 on April 22.

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