DUSHANBE, October 26, 2009, Asia-Plus — Following effects of the global financial crisis, one of Tajikistan’s largest commercial banks, open-joint-stock company Agroinvestbonk, has reviewed its financial policy.
“Before the crisis, the bank had been striving to get profit from financial operations, while during the crisis, Agroinvestbonk’s activity has been aimed mainly at maintaining liquidity in order to avoid financial distress,” the source at Agroinvestbonk said.
Compared to the beginning of the year, the bank’s liquidity has increased from 48.53 to 64.34 percent (1,580 basic points increase), while under the National Bank of Tajikistan’s liquidity requirements for banks, it should be 30 percent, according to the source.
Agroinvestbonk’s loan portfolio rose 30.9 percent (157.4 million somoni) in nine months to October 1, 2009, reaching 667 million somoni.
Over the same nine-month period, the bank has provided more than 19,200 loans for a total amount of 579 million somoni; 18,900 microloans accounted for 37.3 percent (216.1 million somoni) of the total amount of loans provided over the report period.
Because of the global financial crisis, loan provisions have been decreased by 193.7 million somoni compared to the same period of last year.
The total amount of deposits held by Agroinvestbonk rose by 24.1 percent in the year to October 1, 2009, reaching more than 533 million somoni.
Founded in 1992, Agroinvestbonk, with headquarters in Dushanbe, has main branches in Khorog, Khujand, Kulob and Qurghon Teppa and 61 other branches across the republic.
