BAKU, Azerbaijan, May 31
By Klavdiya Romakayeva - Trend:
The total number of microcredit organizations in Uzbekistan as of May 1 reached 65, Trend reports with reference to the statistics of the Central Bank of Uzbekistan (CBU).
According to the information, last year, eight new microcredit organizations were opened in Uzbekistan.
The CBU reports that the total loan portfolio of microcredit organizations reached 836.1 billion soums ($79 million) as of May 1 and increased by 19.7 percent over the year. The total volume of assets amounted to 963.4 billion soums ($91 million), which is 21.6 percent more than a year ago.
At the same time, 65 microcredit organizations of Uzbekistan have liabilities in the amount of 416.7 billion soums ($39 million), which increased by 22.9 percent over the year. Their equity capital increased by 20.6 percent to 546.67 billion soums ($52 million). This amount also includes retained earnings of microcredit organizations, which increased by 19.9 percent over the year to almost 179 billion soums ($17 million).
Earlier it was reported that since the beginning of 2021 there has been a decrease in the volume of cash in circulation in Uzbekistan. As of May 1, 2021, the volume of cash in circulation amounted to 23.5 trillion soums ($2.2 billion) or 22 percent of the total money supply.
As of January 1, 2021, the total amount of cash in circulation amounted to 24.9 trillion soums ($2.3 billion), or 23.2 percent of the total money supply and four percent of GDP, increasing by 674 billion soums ($64 million) compared to the same period in 2020.
Follow the author on Twitter: @romakayeva