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Halkbank - Company Profile
Essential Advisory Group, Sep 2009, Pages: 8
State Commercial People’s Bank of the Republic of Uzbekistan is one of Top 10 banks in the republic. The Bank has the largest nationwide branch network in the country, which is unparalleled in Uzbekistan, having majority of it (about 2/3) in rural areas.
The Bank is the successor of “Uzsberbank” - thus, the main priority in activities of the bank is providing banking services to population.
Strong state support – According to the Resolution of the President of the Republic of Uzbekistan authorized capital of the bank will be raised to 200 billion UZS at the expense of contributions of Central Bank of Uzbekistan and Ministry of Finance of Uzbekistan during 2009–2012.
High growth rates of the bank’s assets have strengthened its position in the structure of the banking system. Share of the bank’s assets has amounted to 4.2% at the year-end.
As a result of injections on the part of state related shareholders, capital of the bank in 2008 has increased 14 times, thereby share of equity capital in the structure of banking system has reached 5.4%.
Deposits in People’s Bank are ensured with guarantees of the State. According to the Resolution of the Cabinet of Ministers of Uzbekistan as of 22 April 1999, state guarantee of deposits is foreseen in the People’s Bank. Moreover, People’s Bank is delegated with authority to manage funds of Pension Savings Fund of population. Share of deposit portfolio of the bank in the structure of the banking system has grown up to 5.1% at the year-end.
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