The bank said it also paid special attention to support small business and private entrepreneurship. In the first three months, the bank issued 35.7 billion soums of own resources to support this sector, including microloans for 3.8 billion soums.

Alokabank said that the volume of deposits grew by 4.5% year-on-year and reached 49.2 billion soums.

As earlier reported, assets of Alokabank grew by 48.1% year-on-year in the first quarter of 2011. The bank said the assets increased from 257.5 billion soums as of 1 April 2010 to 381.4 billion soums as of 1 April 2011. Alokabank’s capital rose from 47.3 billion soums in the first quarter of 2010 to 66.5 billion soums in the same period of 2011, the bank underlined.

Alokabank was founded in line with the resolution of the Cabinet of Ministers of Uzbekistan from 12 October 1994 in order to ensure economic growth and financial support of the enterprises of the Uzbek Agency for Communication and Information and small and private businesses.

The bank carries out banking activity in line with the license for conducting banking activity of the Central Bank of Uzbekistan from 13 August 2004 (replaces license from 22 March 1995) and license on operations with hard currency from 29 January 2005 (replaces license from 21 August 1996).

Among shareholders of the bank are Uzbek Agency for Communication and Information, Uzbekistan Pochtasi, Uzbektelecom and others.