OREANDA-NEWS. December 09, 2010. Universalbank private open joint-stock commercial bank plans to form its charter fund in amount of 12 billion soums by 1 January 2011.

The increase of the charter fund is planned to be carried out within the framework of 6th emission of securities worth 6.2 billion soums and will strengthen the bank's market position and will increase its credit potential.

The bank plans to increase charter fund by 20-30% annually during next five years to increase the bank's market share.

Universalbank was established on 25 May 2002 with a charter fund of 0.05 billion soums. The bank's headquarters are in Kokand, Ferghana region.