PRESS OF UZBEKISTAN
May 19, 2017
AGGREGATE CAPITAL OF UZBEK BANKS SURPASS 9.9 TRILLION SOUMS
The monetary policy of the Central Bank in the first quarter of this year was aimed at the implementation of the forecast of macroeconomic indicators for 2017, decrees and resolutions of the President of Uzbekistan, as well as the implementation of large-scale measures to increase the level of capitalization, liquidity and stability of banks.
This was announced at the enlarged meeting of the Board of the Central Bank on timely and complete implementation of the priority tasks of economic program for 2017 and instructions to the banking system.
The total capital of the banking system as of 1 April exceeded 9.9 trillion soums(currency rates of CB RU from 19.05.2017, 1$= 3790.00 soums), which is 23.3% higher compared to the corresponding period last year.
The capital adequacy of the banking system three-fold exceeds the international standard, while its liquidity is twice higher than required minimum standards. Banks' assets as on 1 April amounted to 90,1 trillion soums, 29.2% up year-on-year.
Total volume of loans channeled to real sector of economy increased 29,9% and amounted to more than 57.3 trillion soums.
The volume of investment loans of banks compared to April 1, 2016 increased 1.2 times and as of April 1, 2017, reached 3.2 trillion soums.
Lending organizations have contributed to creating a favorable business environment in the country. The volume of loans for entrepreneurial activities in the reporting period amounted to 4.6 trillion soums, having increased 1.3 times compared to the same period of 2016. Of them microloans amounted to 1 trillion soums, 1.3 times more compared to the same period last year.
Women entrepreneurs received over 514.1 billion soums of bank loans, which is 25.5% more compared to April 1, 2016.
The meeting also criticized the activities of individual commercial banks, which do not fully utilize the available domestic opportunities to expand the types of services and build customer trust.
The meeting identified specific challenges ahead:
• unconditional and timely implementation of major directions and priorities of socio-economic program for 2017, approved by the Cabinet of Ministers;
• ensure the stability of the banking system;
• improve the performance of evaluation system of commercial banks in accordance with international standards and principles of regulation and supervision;
• strengthen cooperation with international financial institutions;
• financial support towards private entrepreneurs;
• expand and improve the range of banking services;
• accelerated introduction of modern information and communication technologies.