22 Oct 2010 16:46

Uzbek Asaka Bank up 36.7% in Jan-Sept

TASHKENT. Oct 22 (Interfax) - Uzbek State commercial bank Asaka, which is the second biggest bank in Uzbekistan , increased its assets according to national accounting standards by 36.7% to 2.449 trillion sum (1624.72 sum/$1 on October 22, 2010) in January-September, the bank told Interfax.

The bank's loan portfolio increased by 36.5% to 1.17 trillion sum in the nine months. The bank's equity went up by 6.2% to 379.6 billion sum (including newly formed charter capital at the start of 2010 totalling 300 billion sum).

Asaka, founded in 1996, does its main business lending to companies in the automotive sector. The Uzbek Finance Ministry holds 66.65% of the bank, the country's Reconstruction and Development - 16.67%, and the stock company Uzavtosanoat (Uzavtoprom) - 16.68%.

Uzbekistan's banking system is now represented by 32 banks, including three state banks, five that have partial foreign ownership, eleven stock banks, and thirteen private banks.