BAKU, Azerbaijan, March 18
By Jeila Aliyeva - Trend:
The number of clients of Turkmenistan’s Rysgal Joint-Stock Commercial Bank reached 132,200 people in 2021, Trend reports with reference to Business Turkmenistan information portal.
The above-mentioned volume is 43 percent more than in the same period last year.
Among the bank's clients, entrepreneurs who have taken out large loans on a contractual basis to work on large-scale construction projects in the country predominate.
The total value of the bank's funds raised from enterprises and entrepreneurs amounted to 3.9 billion Turkmen manat ($1.1 billion) in 2021, which is 7 percent more than last year. Thus, the total value of the funds raised in 2020 amounted to 3.6 billion manat (over $1 billion).
Also in 2021, the bank's assets reached 8.6 billion manat ($2.5 billion), which is 21 percent more than in the previous year, which amounted to 6.8 billion manat ($1.9 billion).
As reported, the balance on loans of Turkmenistan’s Rysgal Joint-Stock Commercial Bank amounted to 5.7 billion Turkmen manat ($1.6 billion) in January 2021.
The aforementioned balance sheet is reported to have increased by 47.8 percent in January 2021, compared to the same period last year.
The amount of funds raised from the population and customers amounted to 3.9 billion manat ($1.1 billion), an increase of 9.5 percent.
The bank also decided to raise its authorized capital to 200 million manat (over $57 million) this year.
In addition, the bank accounts for more than 90 percent of payments through the internet banking system for new legal entities and private entrepreneurs.
The number of plastic cards issued by the bank in 2020 was 48,470. The amount of non-cash payments through the bank card system amounted to more than 755.6 million manat ($215.7 million), an increase of almost 3 times compared to last year, the report says.
As reported, Turkmenistan’s Rysgal Joint Stock Commercial Bank plans to attract large foreign investments.
After the approval of the authorized capital of the bank is completed, the shares will first be offered to the bank's shareholders. At the same time, the unallocated shares will be put up for public auction by the Ashgabat Stock Exchange.
Rysgal Bank is the first joint-stock commercial bank in the country, the initial capital of which was created with the participation of representatives of the private sector.
Currently, Rysgal bank finances the construction of Ashgabat-Turkmenabat high-speed highway and facilities of the new administrative center of the country's Akhal region, and it also provided funds for major projects aimed at the production of high-quality export-oriented and import-substituting products.
In addition, the bank supports small and medium-sized enterprises, and, in particular, provides cash to private entrepreneurs.
Rysgal was the first bank in the country to launch an internet banking system and offer a MasterCard card to consumers.
---
Follow the author on Twitter: @JeilaAliyeva