Assets of joint Uzbek-Turkish bank decrease

Business Materials 26 May 2017 15:15 (UTC +04:00)

Tashkent, Uzbekistan, May 26

By Demir Azizov – Trend:

Assets of the joint Uzbek-Turkish bank UTBANK have decreased by 0.4 percent – to 237.12 billion soums under international financial reporting standards (IFRS), according to the bank’s audited balance sheet.

The volume of the bank’s loan portfolio increased by 26.4 percent – up to 115.56 billion soums in 2016, while the volume of liabilities decreased by 14.5 percent – to 145.67 billion soums.

The bank’s own capital rose by 34.8 percent – up to 91.45 billion soums during the period taking into account the formed authorized capital in the amount of 47.88 billion soums.

UTBANK received a net profit in the amount of 15.25 billion soums in 2016 that is by 1.6 times more than in 2015 (9.41 billion soums).

UTBANK was created in 1993 and this is Uzbekistan’s first bank created by attracting foreign capital. Uzbekistan’s Open Joint Stock Commercial Bank Agrobank and Turkey’s Ziraat Bankasi are the founders of the bank.

(3,820.46 soums = $1 on May 26)