Uzbek commercial banks increase investment lending
By Trend
Commercial banks of Uzbekistan in 2017 provided investment loans
worth 16.1 trillion soums, which is 1.3 times more than in 2016,
the Central Bank of Uzbekistan said in a message on January 16.
The Central Bank notes that when issuing investment loans, banks
focused on ensuring timely and full financing of projects included
in the State Investment Program for 2017, as well as in programs on
the development of industries, localization of production and
development of regions.
"The investment policy pursued by banks allows providing financial
and economic stability through technical and technological
modernization of the industry, sharpening its competitiveness,
increasing the export potential, organizing new productions based
on innovative and energy-saving technologies, establishing
production of new types of products that see demand in the world
market, "the Central Bank said.
Currently, the banking system of Uzbekistan is represented by 28
commercial banks, including three state-owned banks, 12 joint-stock
commercial banks, 8 private banks and five with foreign capital
participation.
The minimum size for newly created commercial banks is 100 billion
soums. Over the nine months of 2017, the total assets of Uzbek
banks increased by 1.9 times to 161.2 trillion soums, equity - 1.8
times to 16.1 trillion soums.
(1 USD = 8,163.93 UZS on Jan. 24)
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