In the reporting period, the business scale of the bank expanded stabile. The assets of the bank increased by 19.99% year-on-year in the fourth quarter of 2010 and reached 203.922 billion soums. At the same time, the volume of loan portfolio of Savdogarbank decreased by 0.53% year-on-year to 101.474 billion soums. In the result, the share of loan portfolio in the structure of assets decreased from 6.03% in 2009 to 49.76% in 2010. Income-bearing assets of the bank include inter-banking resources, which rose three times to 7.42% of assets of Savdogarbank.

In 2010, total investment portfolio of the bank rose 1.32% to 1.641 billion soums. The volume of income-bearing assets of Savdogarbank grew 8.72% and made up 57.90% of the bank’s assets (64% in 4Q 2009).

The capital adequacy of the bank is considered as acceptable. In the reporting period, the own capital of the bank grew by 45.44% and reached 26.644 billion soums. At the same time, own capital of the bank increased twice thanks to growth of equity capital and made up 21.918 billion soums. The adequacy of main capital and the first level capital reached 22.3% and 19.7% respectively. In the context of the growth of the bank’s capital, the level of own capital adequacy rose from 10.78% in 2009 to 13.07% in 2010.

In the fourth quarter of 2010, the main source of funding of Savdogarbank is accounts of clients, share of which in total volume of the bank’s liability made up 61.86%. At the same time, all deposits of clients made up 94.41% of attracted resources of the bank. About 94.78% of Savdogarbank liabilities are with the term of less than a year and in the result, the funding base is evaluated as short-term. It is worth to mention that the long-term borrowing, as loans and leasing operations, grew 2.5 times and made up 7.09% of the bank’s liabilities.

In the reporting period, liquid position of Savdogarbank is evaluated as sustainable. The liquid assets of the bank increased by 71.13% year-on-year and reached 36.54% of its assets. Simultaneously, current assets and current liabilities of the bank rose by 46.12% and 4.44% respectively. At the same time, co-efficient current liquidity of Savodgarbank rose from 51.26% to 71.71%. Simultaneously, the ratio of loan portfolio and attracted resources from money markets grew by 2.53% in the fourth quarter of 2010.

Profitability figures of the bank are evaluated as stably growing. Net income of Savdogarbank grew by 21.16% year-on-year to 3.908 billion soums. At the same time, net interest margin of the bank rose from 7.69% to 7.8%, while interest spread decreased from 9.68% in 2009 to 9.01% in 2010.

At the same time, profitability of loan portfolio of Savdogarbank increased from 10.91% in 2009 to 14.61% in 2010. Despite this, share of net interest income in the structure of operational income of the bank decreased from 44.61% to 44.02%. At the same time, commission income and operational income rose by 28.1% and 35.08% respectively. The assets profitability and own capital of the bank was in stable level and made up 2.08% and 17.31% (2.17 and 20.45% in 2009) respectively in the fourth quarter of 2010.