KULOB, November 14, 2008, Asia-Plus — This year, Tojiksodirotbonk’s branch in Kulob has provided 465,225 somoni in loans for enhancement of the grain sector in the Vose district, Asia-Plus has learned from Abdukarim Nematov, the head of TSB’s branch in Kulob.
According to him, another 65,000 somoni have been provided in loans to grain growers in the Kulob district.
On the new mechanism of financing the cotton sector, Nematov said their bank had provided 3,456,885 somoni in loans to the cotton-growing farms in Kulob, Vose, and Hamadoni districts.
Besides, some 116,000 somoni have been provided in loans to vegetable growers.
In all, the Kulob branch of TSB has provided 12,703,628 somoni in loans over the first ten months of this year, which is nearly 3.5 million somoni more than in the same period of 2007.
Of this amount, more than 7 million have been provided to entrepreneurs and some 2 million somoni have been provided to local industrial enterprises, construction and transport companies, Nematov said.
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 has 10 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.
As of November 1, 2008, working assets of the bank have been estimated at 490.5 million somoni and deposits at some 199 million somoni. The ban-stock has amounted to some 100.5 million somoni, while TSB’s net profit over the first ten months of this year has amounted to approximately 178 million somoni.
