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Finance 16/11/2008 Uzpromstroybank’s capital up 6.5% to 98.5bn sooums
Uzpromstroybank
Tashkent, Uzbekistan (UzDaily.com) -- Capital of Uzpromstroybank (Uzbek Industrial and Construction Bank), one of the five largest banks of Uzbekistan, increased by 6.5% year-on-year to 98.5 billion soums.

Assets of the bank grew by 25.5% to 1.332 trillion soums and credit portfolio rose 1.48 times to 857.3 billion soums. The liabilities of Uzpromstroybank reached 1.234 billion soums or grew 38.4%.

Uzpromstroybank, third largest bank of Uzbekistan in terms of assets, has charter capital at the level of 48.6 billion soums. British Glass Group holds 16.9% shares in the bank and Absolute Invesments Trast possesses 14.5% shares. Enterprises of Uzbekneftegaz control 9.9% shares in the bank.

In December 2007, the bank’s shareholders adopted decision to issue new emission of shares to increase authorized capital by 2.7 times to 100 billion soums. Total volume of emission is 65.4 billion soums.

Ministry of Finance of Uzbekistan will buy share of 35 billion soums and Uzbekistan Reconstruction and Development will acquire shares for 26 billion soums. Their total share in Uzpromstroybank will reach 61%.

Other shares for 4.4 billion soums will be realized through open subscription.

Uzpromstroybank started its activity in 1922 as Central Asian branch of Industrial bank Prombank. The bank was re-organized into Uzpromstroybank Joint-stock commercial and industrial-construction bank. Uzbek international bank “Uzprivatbank” was unified in the form of amalgamation to Uzpromstroybank in 2006.

In the result of 2007, the bank’s net income grew 1.58 times to 18.051 billion soums.

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