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ABN AMRO Bank’s Uzbek arm records loss for US$740,000

21/05/2007 12:51

Net audited loss of ABN AMRO Bank NB Uzbekistan, largest bank of Uzbekistan with foreign capitals, made up 919 million soums (US$741,146) in 2006 against net income 943.4 million soums a year earlier.

The audit report of the bank said the loss connected with growth of administrative and other operational expanses, as well as increase of income tax.

ABN-AMRO Bank NB Uzbekistan A.O. founded in 1996. Dutch ABN-AMRO Bank N.V. holds 58.8%, National Bank of Uzbekistan for Foreign Economic Activities – 17.6%, the European Bank for Reconstruction and Development and International Finance Corporation – 11.8% each.

Ernst & Young approved financial report of the bank.

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