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Finance 13/01/2010 Uzbek banks raise charter capital by 489.2bn soums
Uzbek banks raise charter capital by 489.2bn soums
Tashkent, Uzbekistan (UzDaily.com) -- Commercial banks of Uzbekistan raised their charter capital by 489.2 billion soums due to 13 emissions of shares in 2009, gazeta.uz reported quoting Avesta Investment Group.

Avesta Investment Group’s report said the bank issued shares for 276.4 billion soums due to 21 emissions in 2008 (up 77%). Average emission of shares due to growth of volume and decrease of emissions’ number rose from 13.2 billion soums to 37.6 billion soums.

People’s Bank increase authorized capital from 10 billion soums to 100 billion soums, which is the largest growth. The bank plans to raise charter capital to 200 billion soums next four year.

Asaka Bank will emit shares for 293.4 billion soums against planned 147.1 billion souums. The bank will use own resources to this purpose.

Share of the state investments to shares of the banks made up 65.1% in 2008, while it increased to 85.7%. In two years, the government invested over 600 billion soums, which comprises 43.6% of the growth of the banking system’s capital in this period.

Overall, the growth of charter capitals of all banks made up 55.6% compared to growth of the banks’ own resources, which means that undistributed income of the banks and other clauses reached 44.4%. In 2006, it was over 86%, the company said.

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