Assets increase by 19.3% in Uzbek bank

Business Materials 31 October 2016 21:02 (UTC +04:00)

Tashkent, Uzbekistan, Oct. 31

By Demir Azizov– Trend:

The Joint-Stock Commercial "Ipoteka Bank", which is among 10 largest banks of Uzbekistan, increased assets, calculated according to the national accounting standards, by 19.3 percent up to 5.256 trillion soms (official exchange rate on Oct. 31 is 3083.96 soms / $ 1) in January - September 2016 compared to 2015, the bank said in a message posted on its website.

According to the message, the bank's loan portfolio has increased by 21.1 percent up to 4.067 trillion soms since early 2016.

The bank’s long-term loans increased by 27.1 percent and amounted to 3.844 trillion soms or 94.5 percent of a total amount of loans, the message said.

According to the message, the total amount of deposits drawn by the bank amounted to 2.451 trillion soms as of early October, which is 19.3 percent more than in 2015.

As of January – September, Ipoteka Bank increased the amount of equity by 25.7 percent up to 453.7 billion soms taking into account the authorized capital in the amount of 270.1 billion soms, which increased by 11.1 percent.

Some 15,200 legal entities and individuals have Ipoteka Bank’s shares.

The bank’s largest shareholders are the Uzbek Ministry of Finance, which owns 21.32 percent of shares and UzGazOil (subsidiary of Uzbekneftegaz national holding company) - 25 percent.

Ipoteka Bank was established in April 2005 through the merger of Uzbek Housing-Savings Bank (Uzjilsberbank) and Zamin State Joint Stock Mortgage Bank.

Ipoteka Bank has 37 branches, more than 154 mini-banks and more than 570 saving banks. The correspondent relations were established with the banks of the US, Germany, Russia and the Netherlands.