Tashkent, Uzbekistan, Jan. 31
By Mamed Dashdemirov – Trend:
Net profit of Uzbekistan’s Joint Stock Commercial Mortgage Bank “Ipoteka Bank” reached 278.9 billion soums in 2017, which is 3.6 times more than in 2016, the bank’s management told Trend Jan. 31.
Interest income of the bank increased during the reporting period by 63.4 percent and amounted to 610 billion soums, interest-free income grew 2.2 times to 682 billion soums,
The bank’s assets grew 2.4 times to 13.4 trillion soums in 2017, the bank’s loan portfolio grew 2.3 times to 10.5 trillion soums and the bank’s long-term loans grew 2.4 times to 10.4 trillion soums.
The balance on the bank’s deposit accounts increased 2.1 times in 2017 and amounted to 5.5 trillion soums, deposits of the population grew 1.5 times to 1.2 trillion soums.
The aggregate capital of the bank grew 2.7 times to 1.26 trillion soums in 2017 and the authorized capital grew 3.1 times to 846 billion soums. It is secured by the placement of 838 billion common and 8 billion preferred shares with a par value of 1 soum.
The bank’s biggest shareholders include Uzbekistan Reconstruction and Development Fund (60.5 percent), the Ministry of Finance (11.5 percent) and Uznefteproduct JSC (8.9 percent).
Until the end of the first quarter of 2018, the bank plans to register an additional issue of common shares with an aggregate nominal value of 100 billion soums, placement of which will make it possible to bring the authorized capital to 946 billion soums.
Ipoteka Bank was created in 2005.
(8,175.77 soums = 1 USD on Jan. 31)