The power of trust
As of 1 January 2020, the Bank’s assets made UZS 66,6 trillion. The Bank’s loan portfolio amounted to UZS 55,0 trillion. The Bank’s capital adequacy level was 31,5% (minimum requirement set up by the Central Bank of the Republic of Uzbekistan is 13%).
During the first quarter of 2020, the world economy has been already depressed due to the COVID-19 coronavirus pandemic, which led to significant fluctuations in world currencies, instability in international stock and commodity markets.
Despite all the fluctuations in the global economy, as of April 1, 2020 the Bank's total assets amounted to UZS 69,8 trillion, compared with the beginning of the year, this amount increased by UZS 3,2 trillion. or 105%. The Bank's loan portfolio was registered in the amount of UZS 56,2 trillion, compared with the beginning of the year, this amount increased by UZS 1,3 trillion or 103%. At the same time, the Bank's capital adequacy level amounted to 31%.
According to the Decree of the President of the Republic of Uzbekistan No. PF-5969 dated March 19, 2020 on Priority Measures to Mitigate the Negative Impact of the Coronavirus Pandemic on the Economy and Global Crisis Phenomena and instructions of the Central Bank of the Republic of Uzbekistan, as well as to support enterprises of various sectors of the economy during the crisis, the Bank made a decision to prolong the terms of loans totaling UZS 2.8 trillion (which makes 4% of all bank assets) for a period of 6 months.
The repayment terms for all loans granted by the bank to individuals were prolonged for the quarantine period and no additional documents are required to be submitted in this case. So, no fines for late payment of interest will be collected.
Additionally, JSC "National Bank of Uzbekistan" conducted stress-testing in several scenarios for the development of global crisis associated with COVID-19 Coronavirus Pandemic, the forecast for deposits decrease, the growth of distressed assets.
The test results for all scenarios confirm that the bank's indicators comply with the requirements of banking regulator (Central Bank of the Republic of Uzbekistan), so the bank has enough liquid funds to timely fulfill its obligations to depositors and foreign creditors in full.
We will send one email a week, no spam
Our specialist will answer you within a working day. Due to the high number of requests during the COVID-19 pandemic, there may be some delays in responding to requests.