Posted by: 27 may, 2024
IMPORTANT INDICATORS:
Bank Assets and Loan Portfolio: According to national accounting standards as of May 1, 2024, Ipoteka bank's total assets increased by 1% compared to the beginning of the year, reaching 48.0 trillion sums. Financial assets amounted to 11.1 trillion sums, the loan portfolio to 35.0 trillion sums and other assets to 1.9 trillion sums.
The bank's loan portfolio is well diversified, the share of retail loans in the portfolio is 62% and the share of corporate loans is 38%.
Bank Deposits: The bank deposit base has steadily increased compared to the beginning of the year, with the balance of deposits reaching 18.8 trillion sums as of May 1, 2024.
Bank Capital: Ipoteka bank's total capital is 7.6 trillion sums, with a tier 1 capital adequacy ratio of 14.6% and a regulatory capital adequacy ratio of 16%, meeting the standards of the Central Bank of the Republic of Uzbekistan.
Profitability: By the end of April 2024, the bank's operating income increased by 26.9% to 2.1 trillion sums. The high growth in operating income was attributed to net interest income, stable loan volume growth, and low level of expenses. The cost to income ratio (CIR) improved to 23.9% due to traditionally stable operating efficiency. The bank also reduced the cost of attracted resources, transitioned to lending based on market principles, and effectively managed to increase the Net Interest Margin (NIM) to 8%.
MARKET POSITION:
Ipoteka bank holds a significant position in the market, accounting for 7% of assets and deposits in the banking system. It remains the clear leader with a 15% share in the retail credit market, including a 24% share in the mortgage lending market.
IMPORTANT APPOINTMENT:
Pál Gomboswas appointed as the head of the IT block.
IMPORTANT FACTS:
- An additional 70.0 million US dollars were added by OTP Bank to the authorized capital of Ipoteka bank, increasing its share in the bank's capital to 79.6%.
- The centralization of back office functions in branches located in Tashkent city began on April 1, 2024.
- On April 25, 2024, three-year Eurobonds of the Ipoteka bank, valued at 1.4 trillion sums, were successfully placed on the international Vienna Stock Exchange with an annual coupon rate of 20.5%.
NEW PRODUCT:
The bank has introduced mortgage loans for self-employed citizens.
ACHIEVEMENTS/RECOGNITION:
Ipoteka bank was recognized by the national payment system "Humo" for its contribution to the development of cashless payments.
IMPORTANT EVENTS:
- February 13, 2024: President of the Republic of Uzbekistan Shavkat Mirziyoyev received the Сhairman of the Board of Directors, Chairman and CEO of the largest Hungarian bank 'OTP' Dr. Sándor Csányi and awarded him with the Order of Friendship for the strengthening of ties between Uzbekistan and Hungary.
- On February 29, 2024, at the representative office of the EBRD in Tashkent, a ceremony was held as part of the Women in Business (WiB) program of the European Bank for Reconstruction and Development in Central Asia and the second Green Economy Financing Facility II (GEFF II) program in Uzbekistan. A ceremony of signing credit agreements for the amount of 20 million US dollars was held.
- Ipoteka bank began to participate in the "Car-Free Day" on the fourth Wednesday of every month.
- More than 1,500 school children in a total of 28 schools and more than 500 students of higher education institutions were given lessons on the topics of "Digital financial literacy" and "digital security" within Global money week event.
- Within the framework of the Tashkent international investment forum, a business breakfast was organized on the topic "Expansion of small and medium-sized businesses: the role of the state, investors, and entrepreneurs".
