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Uzbek bank’s loan portfolio up by 60%

Business Materials 24 November 2017 13:01 (UTC +04:00)

Tashkent, Uzbekistan, Nov. 24

By Diana Aliyeva – Trend:

The loan portfolio of Uzbekistan’s commercial bank Asia Alliance Bank rose by 60 percent in the first half of 2017, the bank said in a message.

“One of the reasons for this growth is the bank’s financing of a major investment project worth 6.4 million euros, including a foreign exchange loan worth 5.5 million euro provided by Germany’s Commerzbank AG,” says the message.

The project envisages the purchase of equipment for modernization and technical re-equipment of domestic enterprises, expansion of the range of products in the construction industry, according to the message.

LLC Knauf Gips Bukhara, which produces building materials under the KNAUF brand, is the initiator of the project, says the message.

Another large-scale investment project supported by the bank was a loan in the amount of $5 million for the production of ice creams and sweet desserts by Zomin Milk Food (“Imkon” trademark) company.

Asia Alliance Bank today serves about 200,000 individuals and more than 6,000 corporate customers in its head office and seven branches.

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