The bank said it is raising charter capital within the sixth emission of shares for 6.2 billion soums. Increasing of authorized capital will help to strengthen market position of the bank and increase credit potential, which will contribute to development of economic potential of Uzbekistan.

As of 1 December 2010, assets of Universal bank rose by 5.4 billion soums to 31.8 billion soums. The growth of deposits made up over 1.2 billion soums.

Net income of the bank grew to 0.8 billion soums. The return on equity (ROE) increased by 0.8% compared to previous quarter. Clientele base of the bank rose by 10.3% in eleven months.

Ahbor-Reyting, local rating agency, confirmed loan rating of Universalbank at the level of uzB with positive outlook. The rating reflects high quality of the bank’s assets, adequate capitalization, opportunity of risk management, favourable liquid position, as well as good financial results in the activity. As of 3 December 2010, the charter capital of Universalbank made up 7.8 billion soums. Share of individuals in authorized capital makes up 57%.

From mid 2010, Universalbank started wide-scale restructuring direction on strengthening corporate management and firm control over operational risks. In the result, the bank strengthened credit policy and set more rigid monitoring, which helped to improve loan portfolio.

In the result of adopted measures, the bank will have more transparent and will be dynamic development of financing institutes in 2011. The bank also develops new products for retail and corporate customers.

Universalbank said that it will increase its capital by 20-30% annually next five years to increase market share of the bank.

Universalbank private open joint stock commercial bank was founded on 25 May 2002 with charter capital of 0.05 billion soums. The headquarters of the bank is located in Qoqand city, Ferghana region.