In the third quarter, "Alokabank" reported a loss, and its net profit for the year has sharply decreased. This information is detailed in the state bank's report published on the Unified Portal of Corporate Information.
During this period, the bank recorded a net profit of 21.2 billion sums, which is five times less than in the second quarter when the profit amounted to 109.7 billion sums.
Compared to the same period last year (231.2 billion sums), the bank's profit has decreased more than tenfold.
One of the main factors contributing to the decline in net profit was a significant increase in operating expenses, which reached 537.9 billion sums during the reporting period.
The largest share of expenses consisted of:
- salaries and employee compensation — 300.3 billion sums;
- expenses for rent and maintenance of premises — 41.1 billion sums;
- administrative expenses — 44.7 billion sums.
As part of efforts to reduce financial risks, the bank has increased reserves for potential loan losses to 114 billion sums. Such expenses are typically necessary to cover potential losses associated with heightened risks in the credit and leasing sectors.
"Alokabank" is a state financial institution. The founders of the company include several major organizations:
- Reconstruction and Development Fund — 61.8%;
- "Uzbektelecom" — 22%;
- Ministry of Economy and Finance — 4.3%;
- Fund for the Development of Information and Communication Technologies — 6.3%; and
- other shareholders — 5.6%.
Earlier, Spot reported that four investors expressed interest in purchasing bank buildings in Tashkent City.