...

KDB Вank Uzbekistan's assets increase by 11.6% in 2016

Business Materials 29 June 2017 20:31 (UTC +04:00)

Tashkent, Uzbekistan, June 29

By Demir Azizov – Trend:

Assets of the Uzbek-Korean KDB Bank Uzbekistan, calculated in accordance with international financial reporting standards (IFRS), increased in 2016 by 11.6 percent compared to 2015 to hit 2.947 trillion soums, reads the bank's report published on Uzbekistan’s single portal of corporate information June 29.

KDB Bank Uzbekistan, which is the biggest bank with foreign share in the Uzbek banking system, increased the volume of liabilities by 10.6 percent to 2.654 trillion soums in 2016. In the total volume of liabilities, demand deposits amounted to 2.215 trillion soums in 2016, which is 14.2 percent more than in 2015.

The bank’s equity increased by 21.7 percent to 292.532 billion soums in 2016. Net profit of KDB Bank Uzbekistan amounted to 39.317 billion soums in 2016 compared to 40.084 billion soums in 2015 (a 1.9 percent decrease).

Korea Development Bank (KDB) acquired the 82.35 percent share of Royal Bank of Scotland (RBS) in Royal Bank of Scotland Uzbekistan (RBS Uz) in December 2010. Shareholders of KDB and RBS Uz approved an agreement on a merger at general meetings in December 2012. Thus, the biggest bank with foreign share was established in Uzbekistan as a result of the merger of KDB Bank and RBS Uz.

At present, the shareholders of the bank are KDB (86.3 percent), National Bank for Foreign Economic Activity of Uzbekistan (10.3 percent) and Turonbank (3.4 percent).

(3,958.56 soums = $1 on June 29)

Tags:
Latest

Latest