KULOB, April 21, 2009, Asia-Plus — Over the first quarter of this year, the branch of Tojik Sodirot Bonk (TSB) in Kulob has provided 1,548,813 somoni in loans, the head of TSB’s branch in Kulob Fayziddin Azamov remarked at a news conference in Kulob on Aril 20.
Of this amount, 1,119,167 somoni went to supporting development of small business and retail trade in the region.
Besides, the branch has provided 379,646 somoni in loans to local industrial enterprises, construction and transportation companies, as well as labor migrants for traveling to Russia. Only 50,000 somoni have been provided in loans to grain farmers in the Vose district.
Azamov noted that the branch’s loan portfolio over the first three months of this year had decreased more than three times compared to the same period of last year. According to him, the decrease has resulted from non-repayment of last year’s cotton loans.
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 Tojik Sodirot Bonk or TSB.
Headquartered in Dushanbe, TSB has 11 branches in the main cities 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.
