KULOB, January 19, 2009, Asia-Plus — In 2008, Agroinvestbonk accounted for 30 percent of the overall volume of banking loans to Khatlon’s Kulob region, according to Sayfiddin Qadamov, head of Agroinvestbonk’s branch in Kulob.
“In all, Agroinvestbonk provided 42.348 million somoni in loans to the Kulob group of districts last year,” said Qadamov, “Our branch’s loan portfolio increased 1.8 times in the year to December 31, 2008; compared to 2007 we provided loans 18 million somoni more.”
He noted that 57.2 percent of loans had gone to supporting development of the agrarian sector, 27.8 percent had been provided to commercial enterprises, and 15 percent had gone to supporting enhancement of the industrial and construction sectors.
Population’s deposits in Agroinvestbonk’s branch in Kulob rose 1.4 times in the year to December 31, 2008, reaching 7.012 million somoni, Qadamov said.
Besides, 60 percent of labor migrants’ remittances were sent to the Kulob region last year via Agroinvestbonk’s branches. “In all, labor migrants remitted 82,320,524 US dollars and 198.524 million Russian rubles to Agroinvestbonk’s branches in the region last year,” said Qadamov, “Usually, labor migrants’ remittances to Agroinvestbonk’s branch in Kulob increased two times from year to year, while in 2008, they increased only 1.64 times.”
Due to this and some other factors, Agroinvestbonk’s branch in Kulob last year reached only 97.5 percent of its target on net profit.
On the repayment of cotton loans, Qadamov noted that the law rate of repayment of them evoked concern. “Cotton farmers in the Farkhor district have repaid 40 percent of loans, cotton farmers in Vose have repaid 17.3 percent of loans and Kulob and Hamadoni districts – 10 percent each,” he said.
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.
