Results of the activity of the SUE SB RT «Amonatbonk» in the first half of 2024 and plans for the second half of 2024

On July 12 of the current year under the leadership of the Chairman of the Board of the SUE «Savings bank of the Republic of Tajikistan «Amonatbonk»» Salimzoda A.A with the participation of deputies Chairman Rizvonzoda F.Z, Safarzoda R.S, the chief specialist of the finance department of the Executive Office of the President of the Republic of Tajikistan Normurodzoda Firdavs, Deputy Minister of Finance of the Republic of Tajikistan Bahromzoda Parvina, Head of Banking Supervision Department of the National Bank of Tajikistan Rahimzoda Ibrahim, the head of the Department of appointment and control of pension payments of the Agency of social insurance and pension under the Government of the Republic of Tajikistan Nasriddinov Sadullo, heads of structural units of the Bank and branch managers was held an extensive meeting on summarizing the results of the activity of the SUE «Savings bank of the Republic of Tajikistan «Amonatbonk»» in the first half of 2024 and plans for the second half of 2024.

In the first part of the meeting, the Deputy Chairman of the Board Rizvonzoda F.Z. made a speech and informed the audience about the activity of the SUE SB RT "Amonatbonk" during the first half of 2024.

It was noted that in the first half of this year, the Bank focused its efforts on the effective implementation of the instructions of the Founder of Peace and National Unity - Leader of the Nation, President of the Republic of Tajikistan, respected Emomali Rahmon in his annual message and Bank’s priority activities for 2024. Bank income before tax is 86.8 mln. somoni and after tax 69.5 mln. somoni which is 20.4% more than the same period of 2023.

In the first half of 2024, Bank capital reached 919.1 mln somoni, which is 17.3% more than the same period last year. The bank's assets amount to more than 7.9 billion somoni, which are 20.9% more than the same period last year.

In the first half of 2024 the bank transferred a total of 50.7 million mandatory taxes and payments to the national and local budgets, which is 21,4% more compared to the same period last year.

Amonatbonk is taking practical measures to make a significant contribution to the banking system by providing affordable and long-term loans, as well as taking into account the announcement of the 2022-2026 "Year of Industrial Development", annually increasing the amount of credit.

As of June 30, 2024, the bank provided more than 956 million somoni in loans to more than 31,000 customers from domestic and foreign resources.

It is worth mentioning that Amonatbonk offers "Mortgage Loans" in order to support the needy sections of the population in the direction of construction, expansion and purchase of residences.

In order to fulfill the annual message instructions of the President of the Republic of Tajikistan, Honorable Emomali Rahmon, the bank renewed its lending policy and provided benefits to priority sectors.

Amonatbonk is expanding its activities in the direction of attracting as many investments as possible to the country's economy and in this context promoting business activities as well.

In particular, for the purpose of trade financing with the National Bank for Foreign Economic Activity of the Republic of Uzbekistan, 39 domestic companies were offered a bank loan of $15.6 million US dollars to import goods and products from the Republic of Uzbekistan.

Amonatbank also opened a letter of credit line with KazakhExport JSC of the Republic of Kazakhstan for one domestic company of 23.7 million US dollars.

A high level of liquidity is one of the main indicators of stability and reliability. The implementation of this indicator in Amonatbonk is ensured at the required level, and the result is that the number of depositors in the Bank has reached 2.4 million people.

As of June 30, 2024, deposits balance of legal entities and individuals in Amonatbonk is more than 5.8 billion somoni, which is 20.8% more than in the same period last year. According to this indicator, the bank has occupied one of the prominent places in the country's banking system.

In connection with the Decree of the President of the Republic of Tajikistan dated June 22, 2023, No. 586 "On measures to expand non-cash settlement" Amonatbonk is regularly implementing the necessary measures.

In order to strengthen the existing infrastructure of the Bank and establish the non-cash payment of all types of taxes and state duties for issuing licenses, fines, mandatory insurance amounts, utilities and other types of state services and filling electronic means of payment as of today 1,081 electronic devices are active in 75 branches, 548 banking services centers and of and 43 tax inspectorates.

Also, during the reporting period, in order to create the necessary infrastructure for providing services to citizens in state institutions 3,273 pieces of electronic equipment (post-terminal) were handed over to employees of state organizations and institutions.

Besides, the process of installing a single QR-code in shopping and service centers and government institutions is continuing with unabated intensity. As of the reporting date, in total 2,756 QR codes have been installed throughout the country (1,560 QR codes in the private sector and state institutions, and 1,196 in the private sector).

After the report of the Deputy Chairman of the Board of "Amonatbonk" branch managers reported to the Board Chairman on their activities during the first half of 2024.

Normurodzoda Firdavs, the chief specialist of the finance department of the Executive Office of the President of the Republic of Tajikistan and Rahimzoda Ibrahim, Head of Banking Supervision Department of the National Bank of Tajikistan also gave a speech and expressed their opinions on the results of the activity of "Amonatbonk" during the first half of 2024 and they positively evaluated its financial indicators during the reporting period.

In the continuation of the meeting the Chairman of the Board of the SUE SB RT «Amonatbonk» Salimzoda A.A first of all, expressed his gratitude to the Founder of Peace and National Unity - Leader of the Nation, President of the Republic of Tajikistan, respected Emomali Rahmon for his constant support in the continuous development of the Bank and he noted that the activity of the Bank is based on the instructions of the annual messages of the President of the country and the National Bank of Tajikistan as a central bank as well.

In that regard, during the reporting period  the main focus was on  creating favorable conditions for the access of loans to the priority areas of the national economy, which was specially tasked the banking system in the last message. And in this regard the Bank lowered its interest rate of loans from 1 to 4 percentage points and the repayment period was extended up to 5 years.

In connection with the Decree of the President of the Republic of Tajikistan "On measures to expand non-cash settlement", Amonatbonk is regularly implementing the necessary measures.

It was emphasized that along with the sectoral activities, as well as the President's instructions and tasks, which were mentioned at a meeting with religious figures and representatives of the intelligentsia and other instructions for the worthy celebration of the 35th Anniversary of the State Independence of the Republic of Tajikistan, will be the responsibilities of each Bank employee in the current year in their subsequent activities.

Therefore, Bank employees should direct all their efforts to fulfill the instructions of the President's annual message, the Government of the Republic of Tajikistan, the National Bank of Tajikistan and the Board of “Amonatbonk”.

In general, the members of the Board, heads of structural units of the Bank and branch managers are obliged to ensure, together with all the employees, timely and qualitatively realize the goal and plans adopted by the Government of the country and bank.

At the end of the meeting, in order to strengthen the position of the Bank in the banking system, to eliminate existing shortcomings and to prevent and manage risks, the Chairman of the Board set the following tasks for all structural units of the head office and the Bank branches:

Ensuring the timely implementation of the instructions and orders of the annual message of the Founder of Peace and National Unity - Leader of the Nation, President of the Republic of Tajikistan, respected Emomali Rahmon; increasing loan volume; supporting the entrepreneurs, including women entrepreneurs; supporting the artisans and craftsmen; increasing the number of women in the Bank branches; intensifying work towards returning non-performing and irregular loans; selling properties on the Bank's balance sheet; maintaining the Bank's liquidity at the required level, involving all employees in learning foreign languages ​​and organizing regular clean up events, keeping the rooms and grounds of the work buildings and employees’ housing neat and tidy.

The Chairman of the Board of "Amonatbonk" Salimzoda A.A once again expressed his gratitude to the Founder of Peace and National Unity - Leader of the Nation, President of the Republic of Tajikistan, respected Emomali Rahmon, the Government of the Republic of Tajikistan, the Ministry of Finance of the Republic of Tajikistan the Agency of social insurance and pension under the Government of the Republic of Tajikistan for their support and beneficial cooperation.