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Uzbek Alokabank increases assets by 18%

Business Materials 13 May 2016 20:20
Uzbek open joint stock commercial Alokabank increased its assets, calculated in accordance with the National Accounting Standards, by 18.2 percent up to 1.188 trillion soums in 2015 compared to 2014, a report published on the bank’s website said.
Uzbek Alokabank increases assets by 18%

Tashkent, Uzbekistan, May 13
By Demir Azizov - Trend:

Uzbek open joint stock commercial Alokabank increased its assets, calculated in accordance with the National Accounting Standards, by 18.2 percent up to 1.188 trillion soums in 2015 compared to 2014, a report published on the bank's website said.

As of May 13, the official exchange rate is 2909,25 soums/$ 1.

The total volume of loans amounted to 916.984 billion soums, which is 29.5 percent more than in 2014.

Alokabank's commitments increased by 17.2 percent up to 1.015 trillion soums.

The bank's equity amounted to 173.873 billion soums as of late 2015 compared to 140.127 billion soums in 2014 (a 24.1 percent growth). The share capital in the structure of own funds amounted to 112.701 billion soums, increasing by 7.9 percent, retained earnings - 61.142 billion soums (a 71.3 percent growth).

Alokabank's net profit amounted to 27.039 billion soums as of 2015 compared to 20.322 billion soums in 2014 (a 33.1 percent increase).

Alokabank, a medium-size bank, was established according to the Cabinet of Ministers' resolution in 1995. The bank specializes in issuing credits to telecommunications facilities.

The bank's founders are the enterprises and organizations of the State Committee for Communication, Information and Telecommunication Technologies.

The bank has 14 office branches in the country.

The bank's stock is shared among over 3,000 shareholders. The bank's biggest shareholders are the Information and Communications Technologies Development Center and Electromagnetic Compatibility Center, which are part of the UTIA and hold 19.99 percent each.

The correspondent relations were established with banks of Germany, Azerbaijan, Russia, China and South Korea.

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