OREANDA-NEWS. July 27, 2009. At a ceremony at the Kyrgyz National Philharmonic theatre (named after T. Satylganov), the State Tax and Due Committee (STDC) duly congratulated AsiaUniversalBank (AUB) and presented the Bank with the “Best country’s taxpayer” certificate. AUB was honoured with this award for its considerable contribution to the revenues of the Kyrgyz Republic, reported the press-centre of AUB.

Social and economic development of the Kyrgyz Republic directly depend on the activities of such large organisations such as AsiaUniversalBank - the greater the tax income the state treasury receives the better the opportunities are for the country’s development. The money received in the form of tax enables the state to properly provide social services, state pensions, hospitals, schools, roads, etc., and to improve their living standards of its citizens.

The event was timed to coincide with the national Kyrgyz Tax Workers’ Holiday. During the award ceremony Mr. A. Keldibekov, the Chairman of the STDC, thanked AsiaUniversalBank for the exemplary discharge of its tax duties in 2008. It is of particular note that AsiaUniversalBank paid taxes to the tune of 82 million soms in 2008 (nearly two million US Dollars).

“The conscientious attitude of our Bank to its tax payment is evidence of the transparency of its work and social responsibility. We are acutely aware of our duty to society and understand that the amount of pensions and salaries of employees of government-financed organisations as well as the maintenance of roads, the public health service and education, and many others directly depend on tax. AsiaUniversalBank’s income is growing steadily year upon year and this means that the Bank’s contribution to the state treasury is also growing”, said Mr. Nurdin Abdrazakov, CEO of OJSC “AsiaUniversalBank”.

Note: 2008 was an outstanding year for AsiaUniversalBank. The successful merger between OJSC “AsiaUniversalBank” and OJSC “Kyrgyzpromstroibank”, and the establishment of a number of subsidiary companies, gave the Bank the developmental opportunities to expand (it has the most widespread branch and ATM network in the country), increase market share, to further enhance customer service and to offer professional retail banking products and services in the more remote regions of the country.

As in previous years, AUB is ranked first among Kyrgyz commercial banks in terms of net profit - 344 million soms. Year-end financial statistics for 2008 have shown that the Bank holds the leading positions in the country for total assets, deposits and total capitalisation. Aggregate assets almost doubled in 2008, reaching 12.6 billion soms. The clients’ account balances grew by 4.8 billion soms, amounting to 9.3 billion soms in total. The Bank’s authorised capital was increased to 1.3 billion soms. As of January 1, 2009, AUB’s total capital comprised 2.6 billion soms, having doubled since the beginning of 2008.