Several Uzbek banks enlisted among 200 largest CIS banks
Tashkent, Uzbekistan, Oct.1
By Demir Azizov- Trend:
Nine banks of Uzbekistan have been included in the annual rating of the 200 largest banks in the CIS, said the message from RIA-Rating agency.
The rating is based on the data from open sources - public financial statements of banks.
The National Bank for Foreign Economic Activity of Uzbekistan ranked 43rd in the rating with $5.3 billion worth assets as of Jan.1, 2015 (22.8 percent of assets of the country's banking system).
Uzbek Industrial and Construction Bank ($3.23 billion worth assets, or 13.9 percent of the total volume of bank assets) ranked 61st, while the Asaka Bank became 86th with $2.17 billion worth assets (9.3 percent of the total volume of bank assets).
The 122nd place in the ranking was taken by the Qishloq Qurilish Bank (Rural Construction Bank, $1.41 billion, 6.1 percent), while Ipoteka Bank ($1.35 billion, 5.8 percent) ranked the 126th.
The People's Bank ($1.23 billion, 5.3 percent) was the 133rd, the Agrobank ($1.18 billion, 5.1 percent) - the 136th, the KDB Bank Uzbekistan ($870 million, 3.8 percent) - the 162nd, and the Hamkorbank ($720 million, 3.1 percent) was the 191st in the ranking.
The valuation of the banks' assets was carried out on the basis of data from the non-consolidated audited financial statements in line with international standards. In case if such data wasn't publicly available, the audited financial statements were used in line with national standards.
In certain cases when other statements were unavailable, the audited consolidated statements or calculations based on the turnover balance sheet indicators were used.
The data shown in national currencies were converted into the US dollars in accordance with the exchange rate set by the corresponding countries' national banks for Jan. 1, 2015.
Today, Uzbekistan's banking system has 26 commercial banks, including three state-run banks, 10 joint banks, eight private banks, and five banks operating with the involvement of the foreign capital (Hamkorbank JSCB, Savdogar JSCB, KDB Bank Uzbekistan JSCB, Uzbekistan-Turkish bank JSC and a subsidiary of the Bank Saderat Iran).
In 2014, the Uzbek banks' total assets increased by 28.3 percent up to 56.2 trillion soums compared to 2013. The rating submitted by the Russian agency shows that the assets of nine Uzbek financial institutions among the 200 largest CIS banks make up 75.2 percent of the assets of the banking system of the country.
The official exchange rate for October 1 is 2,618 UZS/$1.
Edited by CN