One of the oldest financial institutions in Uzbekistan, Uzpromstroybank, saw its assets increase to $4.7bn in 2020, its board said on January 21.
The credit portfolio in the reporting period soared to $3.8bn and the volume of deposits to $1.1bn, with total capital amounting to $642mn.
In the year to January 1, the bank financed a total of 978 projects.
These include the production of 5,800 tonnes of synthetic fibres and fabrics in Shakhrisabz, 5,800 tonmes of agricultural products in Ferghana and 1.4mn pieces of finished products in Sirdarya.
The lender allocated $383mn to support 1,235 entrepreneurs who found themselves in a difficult situation due to the coronavirus pandemic. Exporting companies received $250mn in loans.
Over 100 exporters were allocated $345mn to replenish their working capital.
The bank, with the assistance of the International Finance Corporation (IFC), initiated a mechanism for financing green projects. Seventeen such projects worth $31.9mn received finance during the year.
In 2021, the bank plans to increase the volume of its assets to $5bn and the loan portfolio up to $4.3bn.
Related Articles
Uzbekistan sticks with 14% policy rate
The Central Bank of Uzbekistan (CBU) on October 24 kept its key policy rate at 14% per annum, citing easing inflation but ongoing risks. The ... more
Iran's central bank authorised to settle IRR762 trillion IMF debt
Iran's Central Bank has been authorised to settle IRR762.305 trillion ($708mn) in debt arising from the Islamic Republic's commitments to the International Monetary Fund, First Vice President ... more
Russia’s central bank cuts key rate by 100bp to 17% in cautious move, defies calls for deeper easing
The board of the Central Bank of Russia (CBR) at the policy meeting of September 12 resolved to cut the key interest rate by 100 basis points from 18% to 17%, according to the regulator’s press ... more