Government publishes lists of assets of four distressed commercial banks

2017-01-06 05:37:35 | Economics | 0 | 189

tajikistan

The government has published lists of assets of four distressed commercial banks.

The list of assets of Agroinvestbonk includes more than 730 properties located in various regions of the country, including the bank headquarters in Dushanbe, main branches in Khorog, Khujand, Kulob and Qurghon Teppa, 60 other branches across the country and five service centers.  Besides, the bank possesses resort zones in Varzob district, small enterprises, farming units, shopping centers, shops, cafes, drugstores, refueling stations, service stations, warehouses, consumer service centers, and many apartments and residential buildings.

The list of assets of Tojik Sodirot Bonk (TSB) includes 52 properties, including the bank headquarters in Dushanbe and 43 branches across the country.  TSB also owns Closed Joint Stock Company (CJSC) Dushanbe Moll (Tajikistan’s largest shopping mall, which is home to the country's first ever hypermarket to be part of the French Auchan chain), Tajikistan Hotel in Dushanbe, eight nine-story apartment buildings in Danghara district (Khatlon province), spinning mills in Danghara and Farkhor districts (Khatlon province), cotton ginneries in Khatlon province, and auto-repair enterprise.

The list of assets of Tajprombank (Tajik Joint-Stock Commercial Industrial Bank for Reconstruction and Development) includes 117 properties, including the bank headquarters in Dushanbe, 22 branches across the country and bank service centers.  Tajprombank possesses many residential buildings and other facilities in various regions of Tajikistan. 

The list of assets of Fononbank includes 37 properties, including the bank headquarters in Dushanbe, four branches, apartments and residential buildings in various regions of the country.  

Recall, the Government has decided to withdraw deposits of the federally funded institutions from the distressed commercial banks.  The funds will be kept in a single account of the Ministry of Finance (MoF) Central Treasury and they will be restricted to be used during a year.

The government regulation on the issuance of securities for capitalization of banks, in particular, notes that this measure is taken for the purpose of avoiding currency pressure and maintaining a low and stable rate of inflation,  

“The matter concerns liquid assets of federally funded institutions that are kept in temporary deposit accounts of the distressed commercial banks.  The amount of such funds kept in two banks alone exceeds 1.6 billion somoni.  These funds are planned to be withdrawn from the banks and they will be kept in the Central Treasury single account,” a source at a MoF told Asia-Plus in an interview.   

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