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Finance 03/05/2011 Ipoteka Bank allocates 77.2bn soums of loans to small businesses
Ipoteka Bank allocates 77.2bn soums of loans to small businesses
Tashkent, Uzbekistan (UzDaily.com) -- Ipoteka Bank joint stock commercial mortgage bank issued over 151 billion soums of loans in the first quarter of 2011, including 77.2 billion soums to support small and private businesses, which is 1.7 times up year-on-year.

This helped to create over 2,500 new jobs. Almost 33 billion soums of issued loans to businesses were directed to industry and construction, 8.5 billion soums - consumer services, 3.7 billion soums to agriculture sector.

At the same time, the bank supported development of service sector. In the reporting period, the bank directed 13 billion soums of loans.

In the first quarter of 2011, the small and private businesses received microloans for 17.1 billion soums, which is twice more year-on-year.

The bank also introduced new service to attract graduates of colleges to entrepreneurship through issuing preferential credits. The bank issued 225 million soums to this purpose.

Ipoteka Bank issued loans for 5.1 billion soums of loans in the first quarter of 2011, which helped to create about 400 new jobs.

The bank also helped young families to organize their stable income source and improve habitation and domestic conditions. In the first three months, the bank issued microcredits to 132 young families.

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