Uzbek Banks Increase Lending to Small Business
Monday 19 September 2011
Tashkent (Trend News Agency) – Commercial banks of Uzbekistan in January-August increased lending to small business and entrepreneurship by 1.5 times compared to the same period of the last year – 2.8 trillion sums, the Central Bank of the Republic said Monday.
According to information, US $77.9 million was allocated to finance investment projects in this sphere through foreign credit lines of international financial institutions. Long-term loans for businesses, upgrading existing production and technological renovation amounted to more than 1.78 trillion sums, or 64% of total loans to small businesses.
According to the Central Bank, since the beginning of the year, the banks allocated 512.1 billion sums loans to enterprises for the production of foodstuffs and 223.7 billion sums for the development of the service sector. The amount of micro-loans has increased 1.4 times – up to 525.6 billion sums as compared to the same period of the previous year. The banking system of Uzbekistan is currently comprised of 30 banks, including three state owned, five with the participation of foreign capital, 11 equity and 11 private.
In 2010, total assets of banks in Uzbekistan increased by 32.1% compared to 2009 and amounted to 20.739 trillion sums, the total loan portfolio by 35% to 11.539 trillion sums, total bank capital by 36.2% to 4.1 trillion sums.
In first half year, the total assets of commercial banks in Uzbekistan increased by 29.4% compared to 2010 – up to 26.839 trillion sums, – the total loan portfolio – by 33.6% to 15.412 trillion sums, total bank capital, – 12.2% to 4.61 trillion sums as of 1st July 2011.