Uzbekistan, Tashkent, May 30 /Trend D.Azizov/
Xalq Bank will increase its registered capital by 11.1 percent to 200 billion soum, the bank said on Wednesday.
The report said the bank's shareholders made the decision to increase the authorized capital and issue additional share.
Total of 40,000 ordinary shares of par value 500,000 soum each will be issued.
Some 20.4 thousand shares for 10.2 billion soum (51 per cent of total emissions) of the total release will be purchased by the Ministry of Finance and 19.6 thousand shares for 9.9 billion soum (49 percent) by the Central Bank
As previously reported, the Uzbek president issued a decree to increase the authorized capital of the bank until the end of 2012 to 200 billion soum due to additional issues of shares on October 2008.
According to the document, the shares will be placed among the founders of the existing shares in proportion to participation.
The state-commercial Xalq Bank was reorganized from the Uzbek Republican Savings Bank in 1995. The bank is an agent of the government in implementing social programs. It works as a universal commercial bank. The Bank is a leader in terms of physical entities' deposits with a market share of 23 percent.
At the end of 2011, the bank received a net profit of 37.4 billion soum compared to 28.3 billion soum in the previous year (growth - by 32.2 percent).
The official exchange rat eon May 30 is 1871.44 soum/$1.