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Finance 26/06/2013 Orient Finans Bank distribute net income for 2012
Orient Finans Bank distribute net income for 2012
Tashkent, Uzbekistan (UzDaily.com) -- Shareholders of private closed joint stock commercial bank “Orient Finans” (Orient Finans Bank) distributed net income of the bank for 2012 and the first quarter of 2013.

The bank said that its net income made up 6.172 billion soums in 2012 and 2.055 billion soums in the first quarter of 2013.

According to the decision of the shareholders, Orient Finans Bank will direct 335.68 million soums of net income of 2012 to form reserve fund and 44 million soums to form Privileged Crediting Fund. About 103.643 million soums of net income for the first quarter of 2013 will be used to form reserve fund.

The shareholders issued 5.792 billion soums of net income for 2012 and 1.951 billion soums of net income for the first quarter to increase its charter capital of the bank.

In the result, the charter capital will grow from 13.202 billion soums to 22.386 billion soums due to capitalization of net income for 2011-2012, as well as the first quarter of 2013. The bank will issue 1.44 billion soums of net income of 2011 to increase charter capital. The par value of the shares will increase from 1.15 million soums to 1.95 million soums.

According to the bank, Orient Finans Bank will issue 11,480 ordinary shares with nominal value of 1.95 million soums each. The old shares will be converted to new ones.

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