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Asakabank - Company Profile
Essential Advisory Group, Sep 2009, Pages: 9
State Joint Stock Commercial Bank (OJSC) “Asaka” is the second largest commercial bank in Uzbekistan in terms of amount of assets and equity. According to results of FY2008, assets of the bank have accounted for 12% of total assets of Uzbek banking system. Bank’s credit portfolio also covered significant share with 12.18% in 2008.
Privatization program for 2007-2010. “Asakabank” is included in the privatization program for 2007-2010. According to this program 51% of the bank’s shares are to be sold to investors, including foreign investors.
State is the main shareholder. Ministry of Finance of the Republic of Uzbekistan, the Fund for Reconstruction and Development of the Republic of Uzbekistan and JSC “Uzavtoprom” own 100% of shares of the bank.
In terms of amount of equity capital the bank comes second to National Bank of Uzbekistan. It shareholders equity covers 10.7% of total amount of equity of the banking system. Shareholders of the bank resolved to raise their authorized fund up to the amount of 300.0 billion UZS in 2009.
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