Tashkent, Uzbekistan, Oct. 16
By Demir Azizov- Trend:
Uzbek Trustbank, a private joint stock bank, will increase its authorized capital by 22.9 percent up to 32.25 billion soums through placing additional shares worth 6 billion soums, the bank management told Trend Oct. 15.
A decision about additional issue was made at the annual general meeting of shareholders as of 2013.
The bank will place six million ordinary shares with a par value of 1,000 soums each as part of additional issue.
The securities will be placed by public subscription by entitling the bank's shareholders to acquire shares.
Currently, the bank's authorized capital is 26.25 billion soums, and it consists of 26.227 million ordinary shares and 23,000 preference shares with a par value of 1,000 soums each.
Trustbank, with its main focus on rendering financial services to the companies on the stock exchange and wholesale trade, was established in 1994. It was transformed into a private bank upon the shareholders' decision in 2006.
The bank's structure includes nine branches, 44 mini-banks.
Correspondent relations were established with 15 banks, as well as with ten foreign banks.
It was earlier reported that Trustbank's assets increased by 16.8 percent up to 742.97 billion soums in 2013 compared to 2012.
During this period the loan portfolio increased by 1.9 times - up to 278.095 billion soums, the liabilities were 15 percent (up to 654.753 billion soums), according to the report.
The bank's shareholders' equity increased by 32.8 percent - up to 88.217 billion soums taking into account the authorized capital.
As of 2013, the bank got a net profit worth 26.565 billion soums or by 26.7 percent more compared to 20.97 billion soums in 2012.
The Uzbek banking system is currently represented by 27 banks, the three largest banks of which are the state ones (National Bank for Foreign Economic Activity, Asaka and the People's Bank), four banks created with the foreign capital, 11 are joint-stock ones and nine are private.
The official exchange rate is 2375,56 soums/$1.