The statement said the Board of Central Bank of Uzbekistan held a session on 17 October to sum up banking sector development in nine months of 2008.

The aggregate capital of banks grew 41.1% year-on-year to 1.76 trillion soums. The balance of deposits grew 52.6% year-on-year to 1.52 trillion soums.

The credit portfolio of the commercial banks comprised 6.279 trillion soums. They directed over 1 trillion soums of credits to finance projects on modernization and re-equipment of business entities in nine months of 2008, the regulator said.

The banks issued 820.6 billion soums in credits to small businesses and private entrepreneurs in the reporting period or up 40.8% year-on-year. The bank directed over 95.8 billion soums of soft credits to young families.