OREANDA-NEWS. January 28, 2011. Ipoteka-bank joint-stock commercial mortgage bank reported the results of its activity in local banking market for 2010. The bank demonstrated significant growth of main financial indexes including the increase of capital and long term resource base, volumes of crediting and money resources on population's deposits, etc.

In 2010 the bank actively worked on further increase of capital and long term deposit basis. The bank's deposit base amounted to 534.5 billion soums by adding 69 billion soums, or 14.8% since the beginning of 2010. The increase of the bank's resource base created additional opportunities for further support of local enterprises-exporters.

To stimulate exports, in 2010 the bank extended credits worth 40.53 billion soums. As a result of measures taken by the bank to support enterprises-exporters, 735 contracts worth a total of \\$3,841.5 million were registered in 2010, the volume of export contracts grew 1.7 times.

As of 1 January 2011 the bank's credit portfolio comprised 571 billion soums, 31.8% up, or 137.8 billion soums since the beginning of the last year. The long term credits made up 489.4 billion soums, their share in Ipoteka-bank's credit portfolio amounted to 87.3%.

Total volume of Ipoteka-bank's investment credits made up 203.3 billion soums, their balance as of 1 January 2011 amounted to 441 billion soums. The index added 254.2 billion soums, or increased 2.3 times, versus the beginning of 2010.

Following the modernization program in accordance with the Resolution of the President of Uzbekistan dated 12 March 2009, the bank extended used resources of the Fund for Reconstruction and Development along with own funds to extend almost USD 151.5 million to finance four projects of Almalyk mining and smelting enterprise.

Moreover, Ipoteka-bank is actively financing the production processes modernization of Uzmetkombinat worth USD 7.5 million. Also the bank extended credit resources worth USD 1.5 million for two projects of Radiks company within the program for pharmaceutical industry modernization.

Additionally, the bank extended credits worth a total of 194.2 billion soums to representatives of small business, they resulted in creation of 6,860 new workplaces. The index increased by 26.3% versus 2009. Therefore, the bank overfulfilled the plan for crediting representatives of small business by 5.2 billion soums, or 2.7%.

The representatives of small business received microcredits worth 39.2 billion soums, the established plan (37 billion soums) was overfulfilled by 2.2 billion soums or 5.9%.

In terms of purposes of credits extended to small business, the bank extended 22.4 billion soums for women- entrepreneurs, fostered the creation of 856 new workplaces, extended 23.9 billion soums for the development of services market, created 713 new workplaces, extended 1.4 billion soums to low income families for the purchase of livestock.

To saturate the domestic market with consumer goods, in 2010 the bank extended credits worth 33.3 billion soums and created 629 new workplaces to foster further development of production of domestic consumer goods.

To facilitate the production of local nonfoods, Ipoteka –bank extended credits worth 46.1 billion soums, by overfulfilling the plan by 7.1 billion soums or 18.3%, created 623 new workplaces.

On the basis of the Program for complex development of territories, in 2010 the bank planned to extend credits on 233 projects worth 28.76 billion soums and create 2,210 new workplaces. As of 1 January 2011 the bank extended credits worth 19.26 billion soums on 198 projects and created 1,205 new workplaces.

Moreover, since the beginning of 2010 Ipoteka-bank extended credits worth 34.6 billion soums to provide the population with high quality construction materials of local production.

Thus, analyzing bank's financial indexes, one can say with certainty that Ipoteka-bank has a stable resource base and everything it takes to provide high quality banking service to the population of Uzbekistan.