Year 2013 was a year of creating and stable growth!

In social and economic life of Tajikistan the year 2013 was the year of extension of creative works, stability, strengthen the achievements of the independence of our country and continue the process of its sustainable development.
Due to the faithful and conscientious work of the country citizens, in the past year it was ensured sustainable development of the national economy, and entrepreneurship, and investment, which facilitate improvement the level and quality of the citizens’ life. OJSC “Bank Eskhata” as one of the offsprings of the State Independence, strengthened its position in 2013 as stable and reliable bank, and it continued dynamic progress with a view to be more and more customer-oriented bank.
In the past 2013 Bank took a few more important steps in its development and development of the state as a whole. Sure, many things yet to be done, but the changes that are taking place in the bank are already appreciable to customers, and shareholders, and to personnel as well.
The reporting year was another step up; the bank expanded its geography and increased its loan portfolio, expanded product line and made stronger its reputation as a reliable bank.
Analysis of key indicators of the balance shows that the asset over the same period, when the figure was 716.8 million Somoni, increased by 25.47% to 899.4 million Somoni by the end of 2013.
Bank capital was increased by 35.78% to 145.8 million Somoni.
One of the indicators of the Bank Eskhata's productive work is net profit which in comparison to the previous year increased by 3.08% and by the end of 2013 amounted to 43.292 million Somoni.
Credit market development in 2013 was going in moderate economic growth in Tajikistan. Amid rising production financial condition of corporate borrowers gradually improved, which had positive impact on the credit market. Net loan portfolio at 31.12.2013 amounted to 574.377 million Somoni excluding loans to banks and MFIs that 47.6% is higher than analogous indicator at the end of 2012.
The total volume of loans issued for the period totaled 1022.6 million Somoni, which is 48.8% higher of the last year indicator.
Development of entrepreneurship, micro and small business is a task that has very strong social effect. Importance of the development in these areas for the state and society is in fact that they are foundation of economic stability, effective tool for providing employment and improvement of the living standards of the middle class.
Improving the quality of customer service and expanding the range of rendered services still remains a priority direction for the Bank performance.
Combination of an integrated approach to selling high-quality banking products at competitive rates and the best interests of each individual customer allowed the bank not only to maintain, but also to expand significantly its customer base over the past year. Bank Eskhata managed to achieve significant rate of increase in deposit portfolio. For 2013 the volume of the deposit portfolio has grown by 17.39% to 330.2 million Somoni.
Every year the bank is trusted by more and more customers, and this trust is based on long-term experience to work with them. Bank customers are attracted by wide product range, stability and safety of the bank, storage conditions of deposits.
Showing concern for maintaining and steady increase of its customers savings, Bank Eskhata offers competitive and out of exposure to risk programs on deposits with diverse and favorable conditions.
Extensive experience in financial services market, successful financial performance of the Bank is the guarantee of safety and multiplication of the funds invested by its clients.
In 2013 the bank’s main focus in retail business development was on remittances, one of priorities of the Bank's performance. In the reporting year Bank Eskhata has kept the leading position in remittance market, due to the speed, high quality of the service, accessibility for customers.
Intense pace of development of the remittances market promotes continuous improvement of this performance direction. The volume of remittances issued to the citizens in 2013 increased by 18.4%.
Along with other banking services, development of plastic cards business was outlined in 2013. Bank branches made their contribution to increase number of the card holders. In the reporting year ranks of the bank partners on salary projects included several large organizations and enterprises, regardless of their form of ownership. Expanding the network of ATMs and POS-terminals directly influences on the development of plastic cards business, increase number of customers, cardholders and their high quality service.
In 2013 as a general there were issued 18914 pcs of payment cards, what is of 216% more than the last year indicator. Number of ATMs reached 56 units and of POS-terminals 100 units.
Bank Eskhata provides a full range of cash management services to corporate clients in Somoni and in foreign currency. For better customer convenience in managing their bank accounts there were introduced advanced technologies.
The system Bank-Client allows the customer to monitor his bank accounts, to exchange electronic documents with the bank. If in 2012 the service Bank-Client was used by 105 companies and organizations, in 2013 the number of organizations connected to the Bank-Client system has risen by 49% to more than 262 companies.
Strengthening cooperation and mutually beneficial relations with international financial institutions stays to be one of the priorities of the Bank Eskhata in foreign operations. In the list of the Bank Eskhata’s partners are such famous international financial institutions and investment partners as the European Bank for Reconstruction and Development (EBRD) (London), the International Finance Corporation (IFC) (USA), Commerzbank (Germany), Raiffeisen Bank (Austria), Deutsche Bank (USA) and many others.
During the fiscal year 2013 by the sector of international funds attraction there were attracted totally over 60 million U.S. dollars. In 2013 OJSC "Bank Eskhata" has achieved its success in trade finance providing, and portfolio increase by 75% over the previous fiscal year.
In the reporting year, the Bank has focused its attention primarily on improving operating efficiency of the network. Improving quality, efficiency and speed of the customer service were chosen as the main priority in evaluation of the network. As at 31st of December, 2013, number of branches reached 19, banking centers 85 and points of remittances service 279 units. Wide network of service points is one of the main assets of the bank to ensure the availability and competitiveness of its services.
One of the most important events of 2013 was the estimate obtained from the largest rating agency «Moody's Investors Service» (B3) with the forecast on a global scale "Stable". This estimate reflects the high level of its loan portfolio specification, the bank's focus on microfinance and retail, good financial performance, including asset quality, liquidity and profitability.
The year 2013 for Bank Eskhata was the year of its recognition by the partners, awards and achievements. Bank became the best bank issuer under the Trade Finance Program (TFP) and it got according award from the EBRD. Also Bank Eskhata received from its partner, international remittance system "Unistream", the award "Best partner bank ". The company Thomson Reuters awarded the Bank with prize "The most active bank in foreign exchange transactions".

Message from Nosirov H.D., the Chairman of the Management Board of OJSC "Bank Eskhata":

-Addressing to you, dear shareholders, partners and customers, with confidence I declare that we intend to continue meeting your expectations. Still being one of the most promising banks that are able to offer customers new solutions and services, we will help to restore, strengthen and further develop the economy and the banking system as a whole. We are sincerely grateful to all of you for productive cooperation. We are sure that in 2014 Bank Eskhata will continue its active development, providing new opportunities for our customers and partners!
Now, in order to make right decisions, we watch and analyze the world around us. We still watch ourselves; we listen to the opinions of those who choose Bank Eskhata to be his partner in the financial world.
Good results that have been achieved in recent years show that this policy works helps to achieve maximum success. We have such an important task as further to strengthen attention to the customer, his needs and wishes. This is a guarantee of long-term success in our business, and we are sure that successful work urges to build customer relationships as it is convenient for the customer. Bank Eskhata makes it exactly in that way, it does not sell certain financial products, but provides its customers with comfortable, modern solutions that not only meet their current needs for banking services, but also they are able to anticipate their future needs and expectations.
In 2014 Bank Eskhata celebrates 20 years of the productive work. During this period, we have learned to work together and overcome difficulties all together. These years tested our faith to idea and unremitting toil. Year by year we try to reach new heights, and in reality we see that our efforts are not in vain. This is the basis of the success that is going to be achieved by existing talented and motivated people in the Bank, united by a common idea, desire to achieve high level of result and willingness to work as a team in order to make it possible each day. And thus, by joint efforts and with your support we will achieve the desired success in 2014!

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