President of Uzbekistan Islam Karimov signed a decree “On measures on further increasing capitalization level of the State Commercial People’s Bank of Uzbekistan” on 25 March 2015.

Uzbek leader approved a proposal of the Ministry of Finance and Central Bank of Uzbekistan to increase charter capital of the State Commercial People’s Bank of Uzbekistan by 185 billion soums to 385 billion soums.

The document was adopted to ensure reliable and guaranteed protection of population deposits, increase capitalization level of State Commercial People’s Bank of Uzbekistan.

The shares will be distributed among current shareholders, proportionally to their stake in the Uzbek bank – Ministry of Finance – 51% and Central Bank – 49%.

The charter capital will be increased due to own income of the bank, provided tax preferences, state budget, income and resources of the Central Bank.

Increasing of the charter capital will allow the bank to expand crediting of real sector of economy, small businesses and population.

Currently, the assets of the People’s Bank of Uzbekistan makes up 3.063 trillion soums, deposit base – 2.428 trillion soums and loan portfolio 1.652 trillion soums.