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
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
Ukraine’s non-performing loan share falls to decade low as banks post steady profits
The share of non-performing loans (NPLs) in Ukraine’s banking sector has fallen to its lowest level in a decade, even as the country’s lenders continue to deliver strong profits despite the ... more
Azerbaijan tightens banking operations on foreign financial sources
Azerbaijan has implemented new restrictions on banking operations involving foreign financial sources, with amendments signed by President Ilham Aliyev targeting unregistered foreign financial ... more
Most Read
-
Renewable capacity growth is faster than ever, but more acceleration needed to meet Paris 2030 goal, says IEA
1 year ago
-
Kyrgyzstan abandons attempt to rescue Russian climber trapped on icy summit of country’s highest mountain
23 days ago
-
BERTRAND: China after Communism, preparing for a post-CCP China
1 month ago
-
Hungarian economy faces weak growth, slow path to price stability, central bank report shows
2 months ago
-
UKRAINE REMONT: The battle to build: signs of recovery in Ukraine's construction industry
5 months ago