OREANDA-NEWS. January 22, 2007. The AsiaUniversalBank’s overall results in 2007 showed double increase in the bank’s total capital, credit portfolio and total net profit, reported the press-centre of AsiaUniversalBank.

The year 2007 proved another success for AsiaUniversalBank. This one, showing a jubilee milestone period of the Bank’s operations, showed increase in its financial performance, as its total capital, credits portfolio and net profit doubled. AUB holds leading positions among Kyrgyz commercial banks as measured by the total assets, deposits, total capital and net income. Within the framework of the year reported, the Bank was continuing its dynamic growth, with a number of new projects introduced.

Retail business growth has become the most important direction for the Bank’s operations’ enhancement. AUB has developed a new retail strategy and started its implementation. Within the framework of this one, the Bank in 2007 started expansion of its branch offices network, launched some new consumer lending programs and started building a “Master of payments” self-service terminals’ network. The whole year shows constant growth of the number of clients, as their number increased by 1,6 times since the beginning of 2007.

Growing effectiveness of the Bank’s operations is proved by increase in its total assets, deposits, total capital and net profit. In 2007 AUB’s assets increased by 13,3%, and amounted to 6,3 billion soms (as of January 1, 2008). The Bank was active in private credit operations resulted in customer credit portfolio extension, which doubled and reached 1.7 billion soms. Apart from that, the Bank was actively investing in securities, having increased the bonds’ volume by 2.4 times and reaching it to 1,9 billion soms as of the end of the year. The clents’ account balance grew by 2,6% or 115,1 million soms and amounted to 4,5 billion soms, as of January 1, 2008.

A considerable increase in the Bank’s capital became a marquee point in the Bank’s 2007 activities. By the end of the year the total capital doubled and formed 1,2 billion soms. This became possible as the Bank’s authorized capital was increased from 300 to 700 million soms, as well as due to the profit gained in 2007.

In 2007 the Bank achieved impressive financial results, with the Bank’s revenue amounted to 544,3 million soms, which is a 76,4% increase against the results of 2006. The Bank’s net profit totaled to 212,8 million soms in 2007, which is almost a double increase as compared to the respective period of 2006. The assets’ feasibility came to 3,6%, and the economic efficiency of the authorized capital reached 27,5%.

Besides financial success, the year of 2007 brought AUB a number of significant events. The professional structure of the Board of Directors was re-organised: Michael Mered, the former IMF representative in the Kyrgyz Republic, as well as R. Dole and J. Bennett Johnston,  former US senators,  were introduced to the board. A new modern office of “AUB – Center” branch was launched in Moskovskaya Street in November 2007. AsiaUniversalBank became the first commercial bank in CIS to successfully pass the international ISMS (Information Security Management Systems) standard certificate test ISO/IEC 27001. Within the course of the year, the Bank was given four international awards from the leading international financial publications “Euromoney”, “Global Finance” and “The Banker”, as well as two national awards from Banking Union of Kyrgyzstan and “AKIpress” news agency.