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NEWS AND EVENTS
April 25, 2014
Total assets of Uzbek banks have reached 44.1 trillion soums
The Central Bank of Uzbekistan held the Boards enlarged meeting on the results of activities of the banking system in 2014 Q1, the execution of the economic program and priorities for 2014, defined by the President Islam Karimov at the Cabinet meeting in the beginning of the year, as well as to discuss the objectives set the banking system at the government meeting on April 18, 2014.

The systems current level of capital adequacy ratio is 24.3%, which is 3 times higher than the requirements set by the Basel Committee on Banking Supervision (8%). Banks total capital, as of April 1, 2014, exceeded 6.5 trillion soums.

(Currency rates of CB from 25.04..2014 1$=2276.19soums) For several years, the current liquidity level has exceeded the 65% level, which is 2 times higher than the generally accepted world norm. Banks total assets compared to the same period last year increased by 29% and amounted to over 44.1 trillion soums.

In Q1, total volume of loans directed to the real sector of the economy increased by 31.2% compared to the same period last year, and currently it has reached 26.8 trillion soums.

The volume of loans for investment purposes, as compared with last year, increased by more than 1.2 times and as of April 1, 2013, amounted to over 2.1 trillion soums.

The volume of loans to small businesses increased by 1.3 times and as April 1 of 2014, amounted to 2.1 trillion soums , including the volume of micro-loans reached 444.2 billion soums, which is 1.3 times more than in the same period last year.

The volume of loans to support women-entrepreneurs increased by 1.8 times and amounted to over 240 billion soums.

Banks are also paying serious attention to involvement of graduates of vocational institutions in entrepreneurship, as well as financial support for their business projects. Thus, in the first quarter of the current year, loans worth 26.8 billion soums were allocated for this purpose, which is by 1.6 times more than in the corresponding period last year.

The stable state of Uzbek banks, their increasing credibility, as well as growth in real incomes have become a solid foundation for attracting free funds of households and economic entities in deposits. During the reporting period, total volume of deposits grew by 30.5%, and currently stands at more than 26.2 trillion soums.

In the analyzed period, the banks share in the structure of financial services was 88%, and compared with the same period in 2013 this figure increased by 1.3 times.

It should be noted that a number of measures for further development of cashless payments. Currently over 11.5 million cards are issued, with 134,615 pay points across the country.

However, during the meeting were criticized the activities of some commercial banks, which do not fully seize opportunities to expand services and increase customer confidence.

The meeting identified priority tasks to be executed in the first half of this year.

In particular, the heads of commercial banks were instructed with the task of implementing the most relevant points of the economic program for 2014, defined at the Cabinet of Ministers meeting on 18 January this year, namely, further improvement of commercial banks assessment system on the basis of international standards and principles, regulation and supervision, strengthening cooperation with international financial institutions, financial support of small business and entrepreneurship, expanding and improving the quality of banking services, accelerated use of new ICTs in the banking business.

Besides, the heads of the banks were instructed to unquestioningly execute tasks defined in the State program \"Year of the Healthy Child\", including the creation of favorable business environment for development of business in all branches of the banks. Bankers were also prescribed to increase the amount of targeted investment loans. Relevant decisions were taken, following the meeting.

(Source: - newspaper)


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