OREANDA-NEWS. July 20, 2009. Board of the National Bank of Uzbekistan held a meeting in 18 July to consider the information on results of the bank's activity in the first half of 2009, execution of strategic purposes determined by the board and management of the bank in the reporting year, supporting the state in implementation of the Anti Crisis Program for 2009-2012.

The priority direction remains the task on further development and strengthening of the bank system, improving of banking by extending investment activity, program for development of small business and private enterprises, domestic export, stimulation for attraction of free means of people and economic subjects on deposits, active participation in program on institutional development of financial sector of the republic.

In the reporting half year the number of served clients reached 1.8 million. The volume of the bank's consolidated balance (in equivalent to national currency) by the results of 1H 2009 in absolute sum made up 5.7 trillion soums (including without off-system turnovers 4.52 trillion soums).

The experience gained for many years, leading positions, repeatedly approved by international ratings, modern technologies and highly skilled personnel allow the bank to provide with financing on high levels. Credit portfolio of the bank made up over 2 trillion soums (in equivalent of national currency).

By the results of 1H 2009, the bank issued credits in foreign currency worth US150.5 million, which is 3.5 times more than similar indicator of the previous year, in national currency – more than 353.8 billion soums. Including for support of small business and private enterprises the bank allocated credits in amount of 136.5 billion soums. Also the bank issued micro credits in national currency worth a total of 16.5 billion soums.

With a purpose of implementing events on prevention and neutralization of consequences of the world crisis, foreseen by the Anti Crisis Program, further increase of capitalization level and financial soundness of the enterprise of real sector of the economy, execution of Decision of the President of the Republic of Uzbekistan No.1046 dated 26 January 2009 "On state program "Year of Rural Development", the bank gave credits worth 160.7 billion soums.

In the first half year of the current year, NBU issued credits in the amount of 38.2 billion soums for performance of Decision of the President of the Republic of Uzbekistan No.1047 dated 26 January 2009 "On additional measures to expand production of food items and saturation of domestic market".

The bank issued credits in the amount of 41.45 billion soums for execution of the Decision of the President of the Republic of Uzbekistan No.1050 dated 28 January 2009 "On additional measures to stimulate expansion of domestic nonfoods".

Within the scope of projects financing due to foreign credit lines, the bank has chosen some 238 projects with a total price of US513.4 million and with a sum of financing of US312.7 million, including approved for financing 229 projects with a total price of US504.8 million, from which the sum of credits made US302.7 million.

Decrees of the President No.4053 dated 18 November 2008 "On measures to further increase financial soundness of real sector of economy" and No.4058 dated 28 November 2008 "On additional measures to support enterprises of the economy, providing them with stable work and increasing export potential" became an important step in the sphere of attraction of investments.

Currently the property of some economically insolvent enterprises has already been accepted on balance of the bank. In particular, Chinoz Textile, formed on the basis of the joint venture Chinoz Tukimachi, Oqsaroy Textile, formed on basis Oksaroy Tukimachi, Khorazm Gilamlari, formed on the basis of the joint venture Khiva Carpet, Asia Biscuit, formed on the basis of the joint venture Pasta Kamola and Osiyo Food Stock Company, Azia Ays, formed on the basis of CHPKF Baht Bilol.

All recreated enterprises are equipped with the hi-tech equipment manufactured by Germany, Denmark, Italy, the USA, Japan. Time involved investments allowed achieving full capacities on the enterprises, to develop the modern design for production answering to the world standards of quality and using great demand of the consumer, and also to create additional workplaces.

Recreated enterprises are transferred into control of two affiliated investment companies of the bank NBU Invest Group and NBU Investment.

At present time, the National Bank is providing over 70 types of various complex services for private clients. Steady growth of the number of investors and holders of plastic cards both in national, and in foreign currencies testifies the correctly chosen marketing policy of the bank in the market of banking services.

The national bank is the largest issuer of soum and international plastic cards in the republic. From the beginning of current year about 188,100 cards were issued, and the total quantity of the emitted cards reached 1.52 million. Within the salary projects 455,300 were emitted, or 30% of the total emission.

During the first six months of 2009, turnovers on non-cash payments in the trading-service enterprises accepting for payment soum plastic cards exceeded 160.8 billion soums, which is 3.2 times more compared with the similar period of 2008.

The National Bank of Uzbekistan pays much attention to consecutive development of cooperation with foreign banks and international financial institutions. Work on further expansion of cooperation with the Asian Development Bank, Chinese State Development Bank, Islamic Private Sector Development Corporation, SCO Interbank Association and others has been continued.