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Finance 27/07/2010 Non-banking credit organizations are developing in Uzbekistan
Non-banking credit organizations are developing in Uzbekistan
Tashkent, Uzbekistan (UzDaily.com) -- Non-banking credit organizations of Uzbekistan continued their successful development in the first half of 2010.

The aggregate capital of non-banking credit organizations (NBCO) rose by 89.7% year-on-year in January-June 2010 to make up 68.2 billion soums, the Central Bank of Uzbekistan said.

Total assets of NBCO made up 290.4 billion soums as of 1 July 2010 or grew by 77.3% year-on-year, the regulator noted.

The growth of assets allowed to expand loan portfolio of the NBCO. The system issue microloans and rendered leasing services to members and clients for 258.5 billion soums, which is up 78.2% year-on-year.

Credit unions, which are part of the NBCO, are active in deposit markets as well. The volume of deposits rose by 75.1% or made up 200.5 billion soums.

At the end of the June 2010, the system united 110 credit unions, 34 microcredit organizations and 51 pawn-shops across Uzbekistan.

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