OREANDA-NEWS. November 06, 2008. Keeping track of the constantly growing demand for the services of crediting organizations on the part of business entities and the population, Capital Joint-Stock Commercial Bank successfully meets all the targets it has set.

This year the bank continues to implement the development strategy in its distribution network in the regions of the Republic of Uzbekistan, making a special focus on the retail business in particular attraction of population deposits, the press release of the bank says.

In the first nine months of this year, all the key financial indicators of the bank demonstrated stable growth. The equity capital of the bank grew 1.42 times and made up 17.6 billion soums as of 1 October 2008. The bank's credit portfolio grew by 79% to over 107.8 billion soums as of the reporting date. The assets of the banking institution comprised 249.6 billion soums as of 1 October this year.

The funds deposited in the bank by its clients have also demonstrated a substantial growth. The client base of the Capital Bank has grown by 69% since the beginning of the year to 611,053 clients.

In 2008 the bank has continued to work within the frames of the programme on further expansion in the regions. In the first nine months of this year 12 new offices were opened to provide service to the population in the cities of Tashkent, Ferghana, Nukus, and Termez. Thus, today the network of offices and branches of the bank includes 7 branches and 32 mini-banks, a part of which is located in rural areas.

Capital Bank actively works to develop the service infrastructure for plastic card holders. Payment terminals that can be used for the payment for goods and services are installed not only at retail trade points in the city centres, but at various locations where they might be needed, such as municipal service agencies, which allows the clients to make payments at any time of the day convenient to them.

To date the bank has installed over 400 terminals, in different parts of the city and their number is constantly growing. The total number of plastic cards issued by the bank made up 18,207 units as of 1 October this year. In the first nine months of this year the bank issued 6,182 additional plastic cards, which is the triple of the amount issued in the same period of the previous year.

Also in the first nine months of this year the bank continued to put targeted efforts to expand the range of services provided both to corporate and retail (private) clients. In particular new products were integrated in mortgage and consumer crediting fields. Active demand has been observed for the plastic cards of VISA Electron. However, the bank does not seem to be satisfied with the achieved, it continues to develop new innovative products that should be offered to the clients in the new year, 2009.

All these positive achievements of the bank have found a recognition not only within the Uzbek borders, but also abroad. Very recently, an international publication, Euromoney, awarded the Capital Bank the title of the "Best Bank in the field of Corporate Governance in 2008". According to the experts of the Euromoney, the award received by the bank illustrates that in the field of corporate governance the bank has implemented an effective system for the identification of aims, developing the ways for their achievement and developing the mechanisms of control, as well as an effective mechanism of relations with the shareholders, the Board and the management of the bank.

In particular, it is pointed out that various aspects of corporate governance, such as establishment of corporate goals and objectives, management of current activity, maintenance of the compliance of corporate activity of the bank to the requirements of a reliable banking practice, the legislation and the regulatory base.