DUSHANBE, March 5, Asia-Plus — Open joint-stock company (OJSC) Tojiksodirotbonk (TSB) intends to double its net profit this year, bringing it to 30 million somonis (equivalent to some $8.6896 million), according to TSB’s headquarters in Dushanbe.
The source at TSB’s head office said that as of January 31, 2007, bank’s net profit has amounted to 14.3625 million somonis.
The last general meeting of TSB’s shareholders has taken a decision on distribution of the net profit. “Henceforth, all shareholders of the bank will receive share dividends at 21 percent annual interest,” the source said.
The source noted that the next branch of the bank had been opened in Dushanbe’s Sino district, bringing a total number of TSB’s branches to 11. He added that the bank would open its branches in Panjakent, Jirgatol, Qumsangir and Khovaling in the near future.
TSB was established in December 1990 as the Tajik branch of the Vnesh Econom Bank of the former Soviet Union, and it initially specialized in trade and import-export banking. Later this branch was reorganized into a Joint-Stock Commercial Bank “Tajikvnesheconombank”. In June 1999 the bank was renamed and registered as Tojiksodirotbonk or TSB.
Headquartered in Dushanbe, TSB now has 11 branches in the main cities and districts of Tajikistan and covering all regions of the country. Its clients include the biggest Tajik trading companies, other enterprises, entrepreneurs, and some of the embassies and diplomatic organizations based in Dushanbe. As of February 1, 2008, TSB’s authorized capital stock has amounted to some 90.3 million somonis (more than $26.1 million), and its regulative capital has exceeded 114.5 million somonis (some $33.2 million).
At present ten banks operate in Tajikistan: Agroinvestbonk, Orienbonk, SohibkorBonk, Bank Eskhata, AmonatBonk (Tajik savings bank), Tojiksodirotbonk, Tajikistan Development Bank (TDB), TajPromBank, Fanon Bank and The First MicroFinance Bank of Tajikistan. Additionally, branches of Iran’s Tejarat Bank and Kazakhstan’s Kazkomerzbank as well as office of Kyrgyzstan’s FinanceCREDIT-Bank KAB also function in the country.
