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Uzbek Asaka bank ups assets by 22%

Uzbekistan Materials 4 February 2013 17:08 (UTC +04:00)
In 2012, Asaka State Joint-Stock Commercial Bank (SJSCN), the second in terms of major banking indicators in the banking system of Uzbekistan, has increased its assets, calculated in accordance with National Accounting Standards (NAS), by 21.7 percent compared to the corresponding figure in 2011, up to 4.3 trillion soum, the bank's management told Trend.
Uzbek Asaka bank ups assets by 22%

Uzbekistan, Tashkent, Feb. 2 /Trend D.Azizov /

In 2012, Asaka State Joint-Stock Commercial Bank (SJSCN), the second in terms of major banking indicators in the banking system of Uzbekistan, has increased its assets, calculated in accordance with National Accounting Standards (NAS), by 21.7 percent compared to the corresponding figure in 2011, up to 4.3 trillion soum, the bank's management told Trend.

The proportion of earning assets in total assets is 62.5 percent.

Bank's credit investments totaled 1.85 trillion soum compared to 1.588 trillion soum in previous year (a 16.5 percent increase).

According to the bank, 83.5 per cent of loan portfolio (1.5 trillion soum) constituted long-term loans.

The total volume of deposits attracted by the bank last year increased in comparison with 2011 by 17.4 percent, reaching 310.3 billion soum.

Equity capital of the bank increased by 20 percent and amounted to 586.5 billion soum as of January 1, 2013 with the authorized capital of $ 351.339.07 million soum.

Asaka bank was established in 1996. The bank is mainly involved in lending to the automotive industry.

The authorized capital of the bank is divided into 679.45 million ordinary shares at par value of 52,600 soum.

Founders and major shareholders of the bank are the Ministry of Finance with a 66.65 per cent shareholding, the Fund for Reconstruction and Development of Uzbekistan - 16.67 per cent and joint-stock company Uzavtoprom - 16.68 per cent.

The bank has 26 subsidiaries, 112 mini-banks, some 1,000 savings and special cash desks receiving utility bills. The correspondent relations were established with more than 170 banks of the CIS and foreign countries.

The bank's assets, calculated according to national accounting standards (NAS) in 2011 increased by 34.9 per cent, compared to 2010, up to 1.588 trillion soum, credit portfolio - by 20.1 percent to 488.7 billion soum, charter capital - 9.8 percent to 343.1 billion soum.

The banking system of Uzbekistan currently consists of 30 commercial banks, including three state banks, five banks backed by foreign capital, 13 - corporate and nine - private.

Total assets of commercial banks in Uzbekistan in 2012 increased by 30.2 percent compared with 2011, to 35.7 trillion soum, the total loan portfolio - by 30.5 percent to 20.4 trillion soum, the aggregate bank capital - by 24.3 percent to 6.2 trillion soum.

The official exchange rate on Feb. 2 is 1998.82 soum /$ 1

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