Uzbek commercial banks’ capitalization increase
Tashkent, Uzbekistan, Jan. 17
By Mammad Dashdemirov – Trend:
The aggregate capital of Uzbek commercial banks increased by 2.6 times and reached 23.7 trillion soums in 2017 compared to 2016, the Uzbek Central Bank told Trend.
Such a great increase in the capitalization of banks was ensured through the placement of additional shares with an aggregate nominal value of almost 5.5 trillion soums.
In total, as of January 1, 2018, Uzbek commercial banks placed over one trillion shares with a total nominal value of 10.9 trillion soums, the Central Bank said.
The minimum amount of the authorized capital of commercial banks has been set at 100 billion soums, while private banks - 50 billion soums since January 1, 2018 to increase the resource base of the country's banking system.
The aggregate assets of the country’s commercial banks increased by almost twofold during the reporting period and amounted to 166.6 trillion soums. The commercial banks’ loan portfolio increased by 1.9 times up to 110.6 trillion soums.
The Uzbek banking system consists of 28 commercial banks, including three state-owned banks, 12 joint-stock commercial banks, eight private banks and five banks with foreign capital.
(8,146.38 UZS = $1 on Jan. 17)