Uzbek Microcreditbank’s assets increase

The assets of Uzbek Microcreditbank increased by 1.4 times from 831.9 billion soums to 1.169 trillion soums upon the International Financial Reporting Standards (IFRS) in 2015, according to the audited financial statement published on the corporate information portal.

The official exchange rate is 2943.46 soums/$1 July 2.

The credit investment volume of a total asset volume reached 850.6 billion soums compared to 681.5 billion soums (24.8 percent growth), while liabilities increased by 15 percent from 623.8 billion soums up to 932.9 billion soums.

Microcreditbank's aggregate capital amounted to 235.929 billion soums as of early 2016 compared to 208.208 billion soums in 2015 (13.3 percent growth) taking into account the authorized capital worth 225.447 billion soums.

The bank's largest shareholders are the Finance Ministry and the Central Bank with a total share in the bank’s authorized capital is 80 percent.

Microcreditbank was created by a presidential decree in May 2006 on the basis of the Tadbirkor joint stock commercial bank (entrepreneur) to render a broad range of banking and consulting services to small enterprises, private entrepreneurs and farmers.

The bank has 82 branches and 284 mini-banks with a client base extending to more than 173,000 individual and legal entities.

Microcreditbank is a member of the Association of Banks of Asia and a member of the Microfinance Centre for Europe and the CIS.