Uzbekistan, Tashkent, Oct.27 / Trend, D. Azizov /
The Uzbek Finance Ministry will increase its share in the Agricultural Building Bank to 58.1 percent from the current 53.3 percent, the bank's leadership told Trend on Thursday.
According to the report, the bank will issue an additional issue worth 17.347 billion soums, or a total of 169.243 million ordinary shares par value of 102.5 soums each.
The entire volume of the issue is intended for the Finance Ministry at the expense of state funds allocated to the bank from Mortgage Lending Fund liquidated in early 2011.
As a result of issuing shares the bank's authorized capital will increase by 10.5 percent - up to 171 billion soums, while the Finance Ministry's share in the authorized capital - to 58.1 percent.
The bank was established by a decree of President Islam Karimov in March 2009 on the basis of Gallabank.
The bank was established for lending and banking services to the population and legal entities with a view to fulfilling their needs for housing and utilities, social sectors and equipping of rural settlements in the state program of development and improvement of the village.
The authorized capital of Qishloq Qurilish Bank was formed in the amount of 153.75 billion soums. The main shareholders of the bank are Finance Ministry with a share of 53.3 percent and the Reconstruction and Development Fund of Uzbekistan - 23.7 percent.
The bank has 32 branches, 80 mini-banks, 79 savings banks and 71 exchange offices, 17 international remittance offices.