Reports

As of January 1, 2022, the bank has 39 branches, 17 mini-banks, 113 banking service centers, 212 universal cash desks, and 71 24/7 branches across the republic, serving more than 48.5 thousand active business entities and nearly 3.0 million individuals.

I. Results of the Bank's Operations in 2021

Dynamics of the Bank's Key Indicators:

The main indicators and financial results of Ipoteka-bank as of January 1, 2022 are reflected in the following information:

• the bank's assets increased by 23.5% compared to the beginning of the year and amounted to 40.0 trillion soums;
• the loan portfolio increased by 19.4% compared to the beginning of the year and amounted to 28.21 trillion soums;
• attracted deposit funds increased by 66.6% during the year and amounted to 15.8 trillion soums;
• total capital increased by 19.0% compared to the beginning of the year and amounted to 5.09 trillion soums.

Financial Results of the Bank:

As of January 1, 2022, compared to the corresponding period of the previous year, income was received 61.0% higher and amounted to 6.39 trillion soums as of the reporting date;

in addition, expenses were incurred 63.4% higher compared to the previous year, and as of the reporting date, expenses amounted to 5.7 trillion soums;

As a result of these positive changes, the bank achieved a net profit of 693.7 billion soums based on the results of 2021.

In addition, at the end of 2021, quality indicators reflecting the profitability and efficiency of the bank's operations remained at a high level. In particular, during the reporting period, return on assets (ROA) was 2.04%, and return on equity (ROE) was 14.8%.

II. Business Directions of the Bank

As in previous years, Ipoteka-bank actively participates in the economic reforms being carried out as one of the largest banks in the republic.

In particular, one of the important directions of our bank's activities is financial support for promising large-scale production projects of potential corporate clients, implementation of state programs, economic and social development of regions, contribution to the development of small business, provision of quality and affordable housing to the population, as well as increasing employment through affordable loans.

Housing Construction Financing:

Improving the housing conditions of the population is one of the main factors in ensuring the well-being of society. In this regard, in the past 2021, the Ipoteka-bank team contributed to the financing of construction of modern multi-storey residential buildings in the regions.

In particular, within the framework of the new market-based construction procedure, 73 multi-storey buildings with 4,038 apartments were built in the regions. For the implementation of projects worth 1,113.5 billion soums, credit lines in the amount of 422.3 billion soums were opened to contractors.

In addition, in 2021, credit lines in the amount of 517.6 billion soums were opened for financing the construction of housing worth 1,850.4 billion soums, and as a result of the launch of these projects in 2022-2023, 106 buildings with 6,237 apartments will be commissioned for the population.

Small Business Lending and Retail Services:

Ipoteka-bank actively participates in economic reforms aimed at developing competition, filling the consumer market with goods and services, creating new jobs, and forming a broad layer of entrepreneurs.

Today, a total of 48,563 business entities are served by the bank's 39 branches, 17 mini-banks, 113 banking service centers, and 71 24/7 smart offices.

As a result of practical work carried out by bank employees in the regions, as of January 1, 2022, 5,247 new business entities were created (opened accounts), and 2,143 business entities were attracted from other banks and have now become permanent clients of the bank.

In particular, as of January 1, 2022, the bank provided a total of 4,989.3 billion soums in loans to 5,437 small business entities, resulting in the creation of 11,168 new jobs in the possession of small business entities.

Including by sectors:

• Industry sector – 1,317.2 billion soums;
• Agriculture sector – 703.5 billion soums;
• Construction sector – 663.6 billion soums;
• Services sector – 399.1 billion soums;
• Trade, catering, and other sectors – 1,905.9 billion soums in loans allocated.

By directions:

• Microcredits – 492.1 billion soums;
• Support for women entrepreneurs – 813.3 billion soums;
• For services and service sector – 1,281.8 billion soums;
• For family entrepreneurship and handicrafts – 37.1 billion soums;
• For food producers – 872.9 billion soums;
• For non-food product producers – 347.9 billion soums;
• For youth entrepreneurship development – 661.3 billion soums in loans allocated.

To offer credit products introduced for small business entities to customers, information about credit products is constantly advertised on the bank's social networks.

Within the framework of the European Bank for Reconstruction and Development's “Women in Business CA” program, a credit line of 10 million US dollars was attracted, and during the current year, loans in the amount of 8.0 million US dollars were disbursed.

In April 2021, Group I consisting of 12 active internal trainers of the bank was formed, and a 4-day training for trainers on gender sensitivity was conducted within the framework of “Women in Business CA”. The internal trainers who participated in the training are now conducting trainings for front office employees in branches on this topic. On May 24-27, two more groups of 12 active internal trainers were formed, and training for trainers on gender sensitivity was conducted.

The number of customers using remote banking services reached 95% as of January 1, 2022, amounting to 46,135.

In addition, regional branches of Ipoteka-bank serve about 4,000 fish farms in the republic and jointly address issues of financing their promising projects.

In particular, as of January 1, 2022, 257.7 billion soums in loans were allocated for 248 projects aimed at expanding the fish industry and providing the population with quality fish products.

In 2021, the bank provided a total of 5,534.6 billion soums in retail loans to individuals, including mortgage loans of 2,671.4 billion soums, microloans of 1,647.8 billion soums, consumer loans of 124.5 billion soums, auto loans of 999.3 billion soums, overdraft loans of 2.1 billion soums, and education loans of 89.5 billion soums.

III. International Cooperation Relations of the Bank

Attracting Investments from the International Financial Market

For the first time, Ipoteka-bank successfully placed eurobonds worth 300 million US dollars in November 2020 and in national currency equivalent to 75 million US dollars in April 2021 on the international capital market.

Regarding the Bank's Rating Assessments

Ipoteka-bank effectively organizes cooperation with international rating companies and takes all necessary measures to regularly update and improve the level of ratings assigned to the bank on an annual basis.

On June 8, 2021, the international rating agency “S&P Global Ratings” maintained the credit rating of “Ipoteka-bank” JSCB at the “BB-/B” level while upgrading the outlook from “Negative” to “Stable”.

On July 13, 2021, the international rating agency “Moody's” maintained the deposit rating of “Ipoteka-bank” JSCB at the “B1/B1” level while upgrading the outlook from “Stable” to “Positive”.

In addition, on June 30, 2021, the international rating agency “Fitch Ratings” confirmed Ipoteka-bank's rating at the “BB-/B” level with a “Stable” outlook.