The bank said the assets increased from 243,2 billion soums as of 1 January 2010 to 344.6 billion soums as of 1 January 2011.

Alokabank’s capital rose from 46.3 billion soums in 2009 to 64.7 billion soums in 2010, the bank underlined.

Net income of Alokabank grew by 32% year-on-year in 2010 and reached 7 billion soums, the bank added.

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.