OREANDA-NEWS. February 07, 2011. Alokabank open joint-stock commercial bank held extended session dedicated to results of bank's activity in 2010 and discussion of foreground priorities set for commercial banks in the speech of the President Islam Karimov at the session of the Cabinet of Ministers on 21 January 2011.

The event stressed that last year the bank's activity was aimed at the implementation of the tasks set in Anticrisis program for 2009-2012.

In 2010 Alokabank made a huge work on further strengthening of bank's financial stability and liquidity. As a result, the bank's owned capital grew by 39.9% as against 2009 and made up 64.7 billion soums as of 1 January 2011.

To be noted, the bank's assets increased by 41.7% as against 2009 and formed 344.6 billion soums.

Measures taken to induce free funds of the population and economic entities to bank's deposits resulted in the growth of the volume of deposits; they added 33.4% versus 2009 and exceeded 46.2 billion soums as of 1 January 2011.

Bank's credit and investment activities also demonstrated positive changes. In 2010 total volume of credits extended by Alokabank to legal entities and individuals exceeded 111.3 billion soums.

The bank paid special attention to the support of small business and private entrepreneurship. In 2010 the volume of credits extended for this sector of economy due to bank's own funds made up 80.9 billion soums, including microcredits worth 10.8 billion soums, 5.4 times more as against 2009.

Alokabank also significantly contributed to financial recovery of economically insolvent enterprises, improvement of management mechanisms and production modernization, technical and technological re-equipment. For this purpose the bank invested over 13.9 billion soums as a result of which the production volume at recovered enterprises made up 2.8 billion soums.

The participants of the session established foreground directions for bank's development in 2011. Thus, in 2010 Alokabank will be working on implementation of tasks set at governmental session dedicated to the results of 2010, including on further reforming of banking system and increase of bank's stability, investment activity, capitalization level, etc.