OREANDA-NEWS. February 11, 2008. In 2007 the credit portfolio of commercial banks grew by 16,2% and comprised some 4,757 trillion soums as of 1 January 2008. This includes over 3,7 trillion soums of long-term loans, reported the press-centre of UzPromStroyBank.

In the reporting year the banks contributed greatly to the development and modernization of the enterprises of the real sector of the economy and their technological re-equipment. The banks have increased their lending intended to support the production of export-oriented goods and services. Thus, the funds extended by the banks for the purpose of production modernization and technological re-equipment of enterprises comprised over 1 trillion soums.

Also, last year the commercial banks supported these enterprises, their financial condition by purchasing their securities, which is illustrated by the banks' active operations in the stock market of Uzbekistan. As a result the activeness of commercial banks in the investment processes taking place in the country has increased.

In the reporting year the banks actively supported small business and entrepreneurship entities. As a part of these efforts they appropriated over 743,7 billion soums in loans, which exceeds the sum provided over the same period of the year 2006 by 36%. The volume of micro-loans given out by the banks has grown by 70% to 110 billion soums.

The banks also provided mortgage, consumer and micro-loans to young families of Uzbekistan. Their aggregate size made up 112,8 billion soums.