Ravnaq Bank to direct 90% of 2009 net income to raise charter capital

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Finance 12/07/2010 Ravnaq Bank to direct 90% of 2009 net income to raise charter capital

Ravnaq Bank to direct 90% of 2009 net income to raise charter capital

Tashkent, Uzbekistan (UzDaily.com) -- Ravnaq Bank private open joint stock commercial bank will direct 90% of net income for 2009 to increase its charter capital the bank said.

In line with the decision of the shareholders, the bank will direct 82.2 million soums from net income for 2009 (90%) to raising charter capital.

Other 10% or 9.133 million soums will be used for formation of reserve fund of general purpose.

As earlier reported, net income of the Uzbek bank decreased from 201.983 million soums in 2008 to 91.33 million soums in 2009. The equity capital of the bank rose from 4.827 billion soums to 6.002 billion soums in the reporting period.

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